Macroeconomic dynamics of Ukraine:

Korablin, S.O. (2017). Macroeconomic dynamics of Ukraine: the trap of commodity markets. NAS of Ukraine, SO "Institute for Economics and Forecasting of NAS of Ukraine". Kyiv [in Ukrainian].

ISBN 978-966-02-8428-9

The macroeconomic dynamics of Ukraine are considered through the prism of views on the content of goals, tools and tasks of an effective economic policy. The author shows the transformation of approaches to their definition from the Washington Consensus to the "second-generation reforms" and more modern experience gained during the exit from the global crisis of 2008-2009. The heterogeneity of the world economy is analyzed in terms of its key markets (labor, capital, goods and services) and individual countries. The key features of the Ukrainian economy are defined, which allow to qualify it as small, open and raw-based one. The author proves the influence of world prices for raw materials exported by Ukraine on this country’s macroeconomic dynamics, including real GDP, the exchange rate of the hryvnia, inflation, revenues of the consolidated budget, levels of deposit and credit activities of the banking system. It is concluded that such dependence will deepen in case of Ukraine’s further technological lag behind the more innovative and dynamic economies of the world.