Exchange rate: production and interchange aspects of stabilization regulation
Journal Title: Регіональна Економіка - Year 2016, Vol 79, Issue 1
Abstract
The problems of stabilizing the exchange rate by method of adjusting of macroeconomic equilibrium are considered. It is noted that the exchange rate is the resulting price variable of the ratio of physical volumes of export and import exchange. The interrelation of natural and cash form of major identity of national accounts and formation of the product (goods) unit price in the commodity market and rate of the currency unit (UAH) on monetary segment of the financial market is revealed. The estimation of the capital movement account and ongoing operations current balance account in Ukraine is made. The growing dynamics of capital account deficit that at almost three times grow the level of current account negative balance is revealed. The model of equilibrium of currency supply and hryvnia demand and currency demand and hryvnia supply is justified. A ratios of currency supply and currency demand that by the level more or less than one point will point on devaluation or revaluation currency (UAH) trends and directions of monetary policy of regulators (NBU and the Government of Ukraine) for stabilizing of its course is proposed to count. Based on the proposed method indices of import/export for adjusting the exchange rate for the paternal capital account are calculated and current account exchange rates are adjusted by years. It is concluded that the exchange rate is the result of the ratio of the volume of import and export of currency from Ukraine and the volume of export and import of currency in Ukraine. Adjusting of the macroeconomic balance and the exchange rate stabilizing is recommended to exercise through intensification of financial and real investment for accelerated rates of production of product volume, its export and import optimization.
Authors and Affiliations
Maryan B. Zablotskyy
Keywords
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