Yevhen Savelyev
Opening remarks
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 3-4
| JEL: -- |
Full text (PDF) |
No abstract |
|
Theodoros Papaelias, Nicos Stroblos, Vassilis Panagou
Accounting imprint of macroeconomic magnitude: vertically integrated sectors of the Greek economy
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 5-20
| JEL: -- |
Full text (PDF) |
The productivity indicators are based either on the microeconomic or the macroeconomic notion of sectors of production and vertically integrated sectors of production correspondingly. The first refers to the set of factors of production implemented by the enterprise, whereas the others are the utilized factors employed in other sectors added to the microeconomic sectors. In a traditional approach the microeconomic sectors of production play a dominant role in the analysis of economic development. This paper suggests a microeconomic approach of macroeconomic production factors with the realism implied by using the Computable General Equilibrium (CGE) Models, while enhances the study of areas which are difficultly examined by the aggregate production function. The proposed methodological tool is applied to the Greek economy. Key words: Microeconomic and macroeconomic production functions, capital, labor, closed economy, a final or intermediate commodity, vertically integrated sectors, aggregate production function, economic growth. |
|
Ihor Lyashenko, Yuriy Tadeyev
Optimum trajectory of inter-branch model of ecologic-economical development
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 21-30
| JEL: -- |
Full text (PDF) |
This paper analyses a question of expansion of classic dynamic interbranch model in case of the ecological-economic system. There is main trajectory of the balanced development of Neyman built for the offered dynamic interbranch ecological-economic model. Key words: Ecological-economic system, inter-branch ecological-economic model, dynamic equilibrium, main trajectory, maximal rate of the economic growth, the Neyman ray. |
|
Yevhen Savelyev
International capital flows into and acroos Ukraine
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 31-54
| JEL: -- |
Full text (PDF) |
The paper reviews on theoretical basis international capital flow movements. It proposes few new trends that exist in the capital markets, the waychanges are taking place in Ukrainian financial market and its further integration in the world market. The paper proposes few ways in which, a financial offshore center can be created in Ukraine. It also discusses the advantages of having a financial offshore center in Ukraine at both political and economic levels. Key words: International capital flow, foreign direct investment, portfolio foreign investment, international lending, international financial centers, offshore areas, internationalization of bank concentration of capital, internationalization of capital allocation. |
|
Yuriy Vasylenko, Dmytro Vasylenko
Necessary and sufficient conditions for foreign trade balance stabilization by means of devaluation in Ukraine
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 55-77
| JEL: -- | Full text (PDF) |
This paper defines necessary and sufficient conditions of trade balance stabilization in Ukraine that, contrary to well-known Marshall-Lerner and Bickerdike-Robinson-Metzler conditions, is applicable to non-zero trade balance and to any elasticity of export and import. It also presents and analyses quantitative estimations of changes of physical volumes, prices and values of export and import after some devaluation. For practical purposes the authors received the diapasons of elasticity of exports and imports, in which devaluation makes negative trade balance positive or zero. Key words: Trade balance stabilization, devaluation, necessary and sufficient conditions. |
|
Olha Kyrylenko, Andriy Luchka, Bohdan Malynyak
Municipal bond market in Ukraine: historical background and prospects
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 78-98
| JEL: -- |
Full text (PDF) |
The paper reviews the historical background and the development of the local loans markets in Ukraine. The paper examines the municipal loans markets in other EU and Asian countries. The paper also examines the current issues of the development of the local loans market in Ukraine. The paper ends with certain suggestion for improvement in the national system for allocation of local budgets. Key words: Local (domestic) loans, home debt, securities, project borrowings, loans to redeem the temporary cash gaps, municipal securities market, restricting norms, rating agency, default, debt refinancing, emergency budget. |
|
Iryna Biletska
The research of market concentration of ferroalloys production branch
Journal of European Economy, Volume 4, Issue 1, March 2005, pp. 99-114
| JEL: -- |
Full text (PDF) |
This paper determines a level of a market power and competitive structure of the world market of ferroalloys. The firms that are forming «core» of the market are identified and their role in a global competition of ferroalloy manufacturers is determined. Key words: The cconcentration index; Lind’s Index; Herfindal-Hirshman Index; the entropy index; the logarithm dispersion of the market shares ratio; Ginni Index; Lorenz Curve. |
|