Institutional nature of economic cycles

Pustovoit, O.V. (2016). Institutional nature of economic cycles. Experience of Ukraine. NAS of Ukraine, SO "Institute for Economics and Forecasting of the NAS of Ukraine". Kyiv [in Ukrainian].

ISBN 978-966-02-8067-0

During 13 out of the last 25 years, the Ukrainian economy was in a state of crisis, and 12 – in a state of economic growth. In the scientific community, this phenomenon caused a debate: was the periodicity of crises and stages of rise a sign of the action of random economic shocks or cyclical fluctuations of the economy around the trajectory of long-term development? Modern theories of economic cycles do not provide an answer to these questions. At the same time, without such an answer, it is impossible to develop either forecasts or a state strategy for the future development of the Ukrainian economy. This prompted the author of the monograph to search for a new hypothesis about the uneven growth of transition economies. With its help, the monograph collected evidence that two of the four economic crises in Ukraine were caused by growth cycles of commodity production, the art of whose regulation is not yet mastered by society.

For scientists, employees of state administration bodies, teachers, graduate students, as well as everyone who is interested in the evolution of economic thought regarding the uneven growth of national economies, the modern economic history of Ukraine and the prospects for its future economic development.