PROSPECTS OF UKRAINE'S INTEGRATION INTO THE EUROPEAN ECONOMIC AREA
Introduction. The process of Ukraine’s integration into the European Union is one of the most significant phenomena of recent decades. The essence of the European integration choice of the Ukrainian state is determined by the existence of close political, historical and cultural ties.
Purpose is to determine the prospects for Ukraine’s integration into the European economic area.
Methods. In the course of the study were used: analysis and synthesis, comparative analysis, correlation-regression analysis, gravity model etc.
Results. The article reveals the significance and stages of Ukraine’s integration into the European Union. In addition to this, the economic development of Ukraine in the process of integration was explored. The main economic indicators of Ukraine were analyzed using correlation-regression analysis and the relationship between Ukraine’s GDP, exports, gross capital formation, increase in domestic debt and inflation was established. The investment activity of Ukraine with the EU countries is analyzed, it is established that with the increase of indebtedness, inflation and the hryvnia exchange rate to the dollar, the volume of investments will decrease. The gravitational model of international trade of Ukraine with the EU countries is investigated, the relationship between the level of economic development of European countries and the foreign trade of Ukraine, as well as the dependence of the foreign trade relations between the EU and Ukraine on the distance between their centers was shown. The analysis of the correlation of the stock index of Ukraine with European countries is carried out. It is established that there is a close relationship between the stock index of Ukraine and countries that have recently joined the European Union, such as Poland, the Czech Republic, Bulgaria, Hungary and Romania. This indicates the possibility of approaching the Ukrainian stock market to the European one.
Originality. For the first time, Ukraine's integration into the European economic area was studied on the basis of economic-mathematical models of GDP, investment, international trade and stock index.
Conclusion. With the help of the conducted research, as a result of the European integration of Ukraine, it is possible to determine: the growth of the country's economy, the improvement of investment activity, the introduction of new technologies and technology into the Ukrainian industry, the release of Ukrainian goods and services to the European market, the development of the Ukrainian stock market and attraction to Powerful European companies.
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