Dynamics of Gross Regional Product: Analysis Based on the Methodology of the Neoclassical Growth Theory
Journal Title: Бізнес Інформ - Year 2015, Vol 2, Issue 0
Abstract
The article is aimed at studying the dynamics of gross regional product (GRP) per capita in Ukraine on the basis of the methodology of the neoclassical growth theory. The task of this study was to build a model to analyze the presence of convergent or divergent trends in the level of GRP per capita. As result of the study the most common methodological approaches of the neoclassical theory to the analysis of convergence have been summarized, an own method of calculating the factorial signs used in terms of the neoclassical analysis has been proposed. Adequacy of the analytical model, as well as weight and significance of the correlation relationship and regression parameters has been estimated. Analysis of values of the model parameters allows to conclusion that there is no stable trend of convergence or divergence in the level of GRP per capita over the analyzed period. However, it can be argued about the presence of a weak trend of divergence in the dynamics of GRP per capita. Further research should focus on the use of methodology of the neoclassical growth theory for analysing the dynamics of other indicators of regional development, as well as on the improvement of research methods by adding structural parameters of regional development to the model.
Authors and Affiliations
Mykhailo Kryvoruchko
Keywords
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