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State policy on the functioning of institute of bankruptcy in Ukraine

Author

Listed:
  • Yuliya Orlovska

    (Prydniprovska State Academy of Civil Engineering and Architecture, Dnipro, Ukraine)

  • Nika Ilkova

    (Prydniprovska State Academy of Civil Engineering and Architecture, Dnipro, Ukraine)

Abstract

It is precisely in the course of adjusting the activities of these subjects, the main task of state regulation of the bankruptcy institute is the formation of such conditions for the functioning of the national economy, which will reduce the risk of doing business for all its entities and promote the internal reorganization of its structure in accordance with the requirements of global transformations. The system of indicators describing the situation in a certain area of the functioning of national economic entities allows us to determine, directly or indirectly, the effectiveness of the bankruptcy institute at the macro-level. To analyze the impact of each of the factors on GDP, a sensitivity analysis was conducted according to which input data X were recorded at the values of 2018 and alternately changed by 10%. For each such change, GDP was calculated as compared to the model value for 2018. As a result of the calculations, the most sensitive factors were identified and features of the functioning of the bankruptcy institute in the Ukrainian economy were identified. The main provisions of a state policy aimed at increasing the functional effectiveness of the bankruptcy institute are formulated. First of all, it is necessary to promote the country's position in the Doing business rankings, as well as the Indexes of Economic Freedom and Corruption Perceptions. On the other hand, an annual growth of the inflation index of around 10% and the level of the fiscal tax burden will also have a positive effect on GDP dynamics

Suggested Citation

  • Yuliya Orlovska & Nika Ilkova, 2019. "State policy on the functioning of institute of bankruptcy in Ukraine," Virtual Economics, The London Academy of Science and Business, vol. 2(4), pages 86-104, October.
  • Handle: RePEc:aid:journl:v:2:y:2019:i:4:p:86-104
    DOI: 10.34021/ve.2019.02.04(5)
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    More about this item

    Keywords

    Bankruptcy institute; trend model; state policy; Ukrainian economy; crisis;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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