Macroeconomic imbalance to convergence: EU experience for Ukraine

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The paper deals with analysis of the mechanism of macroeconomic imbalance estimation and achieving the convergence of national economy. With this purpose the authors summarized the main approaches to define the macroeconomic imbalance. In addition, the main indicators which influence macroeconomic imbalance are allocated. On the basis of obtained results, the authors offer to employ the macroeconomic imbalance procedure which is used in EU countries for investigation. In order to achieve this external, internal and employment indicators in EU were analyzed by authors. Besides, with the purpose to indicate Ukrainian place comparing with EU, in particular with Visegrad Countries, the main indicators of MIP for Ukraine were calculated by the authors. According to the results, the authors made conclusion that the Ukrainian economy can be characterized as not stable (as in Bulgaria, Hungary and the Slovak Republic). Moreover, the authors allocated for the future research the necessity to understand the power of countries impact to each other with the purpose to achieve and save the convergence of national economy.

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    • Figure 1. Dynamic of GDP in Ukraine, Moldova and Visegrad Group (2000–2016), bln euro
    • Figure 2. The scheme of measuring the macroeconomic imbalance
    • Figure 3. Net international investment position as percent of GDP of the Visegrad Countries, 2014–2016
    • Figure 4. The internal indicator of MIP (excluding HP) of Visegrad Group and Ukraine in 2014–2016
    • Figure 5. House price index in Ukraine and Visegrad Countries, 2014–2016
    • Figure 6. The employment indicators of the macroeconomic imbalance estimation in Ukraine and Visegrad Countries, 2014–2016
    • Table 1. Dynamics of GDP in Ukraine, Moldova and Visegrad Group (in comparison with 2000), %
    • Table 2. The main indicators to measure the macroeconomic imbalances
    • Table 3. MIP Scoreboard 2016
    • Table 4. The external indicator of MIP (excluding NIIP) of the Visegrad Group in 2014–2016