Population Aging and Economic Dynamics in Ukraine: Models of Endogenous Growth Theory and Empirical Estimates of Current Challenges

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dc.contributor.authorHeyets, Valeriy
dc.contributor.authorSkrypnychenko, Mariya
dc.contributor.authorShumska, Svitlana
dc.date.accessioned2020-10-23T11:20:33Z
dc.date.available2020-10-23T11:20:33Z
dc.date.issued2019
dc.description.abstractAmong the global problems faced by different countries in the last decade, the article looks at population aging. In the context of assessing the impact of population aging on economic dynamics, the scientific novelty of research is to find a solution to this problem in the plane of conceptual ideas formulated in theoretical models of endogenous growth. The authors emphasize the necessity of a state policy aimed at supporting "active aging", which will help to activate human capital and economic growth by increasing formal employment of people over 60 and reducing informal employment accordingly. Using the linear regression equations, the hypothesis that there is a positive effect of active aging on economic dynamics and productivity in Ukraine has been statistically confirmed and quantitative estimates of the impact of these factors have been obtained. The authors' calculations show that the positive effects of such policy, in particular, are possible with the increase in health care costs, which depend on the activity and mobility of the retirement age. Among the challenges, the authors tested the hypothesis of an increase in informal employment and the shadow economy in the absence of government policies aimed at addressing aging. The use of VAR modeling has made it possible to confirm the relationship between real GDP, informal employment and the size of the shadow sector of the Ukrainian economy. The impulse response functions and variance decomposition confirm the negative impact of the growth of informal employment and, accordingly, the shadow economy on the economic dynamics in Ukraine. The practical significance of this study is the application of its results in the development of measures of economic policy and strategy of socio-economic development of Ukraine.en_US
dc.identifier.citationHeyets V. Population Aging and Economic Dynamics in Ukraine: Models of Endogenous Growth Theory and Empirical Estimates of Current Challenges / Valeriy Heyets, Mariya Skrypnychenko, Svitlana Shumska // Advances in Economics, Business and Management Research. - 2019. - Vol. 99. - P. 283-288.en_US
dc.identifier.urihttps://doi.org/10.2991/mdsmes-19.2019.53
dc.identifier.urihttps://ekmair.ukma.edu.ua/handle/123456789/18314
dc.language.isoenuk_UA
dc.relation.sourceAdvances in Economics, Business and Management Research.en_US
dc.statusfirst publisheduk_UA
dc.subjectpopulation agingen_US
dc.subjectendogenous growth theoryen_US
dc.subjectinformal laboren_US
dc.subjectregression analysisen_US
dc.subjectVAR modelen_US
dc.subjectUkraineen_US
dc.subjectconference materialsen_US
dc.titlePopulation Aging and Economic Dynamics in Ukraine: Models of Endogenous Growth Theory and Empirical Estimates of Current Challengesen_US
dc.typeConference materialsuk_UA
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