Comprehensive efficiency assessment of Ukraine’s agricultural sector development under the influence of public financing

Economic Annals-ХХI: Volume 149, Issue 3-4(1), Pages: 88-92

Citation information:
Navrotskyy, S., & Paliukh, O. (2015). Comprehensive efficiency assessment of Ukraine’s agricultural sector development under the influence of public financing. Economic Annals-XXI, 3-4(1), 88-92. https://ea21journal.world/index.php/ea-v149-21/

Stepan Navrotskyy
D.Sc. (Economics),
Senior Researcher,
Institute of Agrarian Economy
10 Geroiv Oborony Str., Kyiv, 03680, Ukraine
san63@ukr.net

Oleksandr Paliukh
Financial Economist,
Ministry of Finance of Ukraine
12/2 Grushevskii Str., Kyiv, 01008, Ukraine
palyuh@minfin.gov.ua

Comprehensive efficiency assessment of Ukraine’s agricultural sector development under the influence of public financing

Abstract. Introduction. The main goal of the state agrarian policy is to ensure and improve the efficiency of the agricultural sector, which requires financing. Thus, during the development of directions to ensure the effectiveness of financing the agricultural sector of economy, it is recommended to examine the cumulative effect of the dynamics, performance level and structure of budget expenditure of the Ministry of Agrarian Policy and Food of Ukraine using the consolidated results of the development of the agricultural sector of the national economy.

Purpose. To develop and implement the algorithm of comprehensive efficiency assessment and modeling of the agricultural sector development of Ukraine under the influence of public financing.

Results. The authors developed the algorithm of comprehensive efficiency assessment and modeling of the national economy agricultural sector under the influence of public finance. This algorithm involves the implementation of nine successive stages, such as: identifying and selecting the resultant and factorial variability, testing for multicollinearity between factors, multifactorial modeling of using tools of correlation and regression analysis, controlling designed model quality using statistical coefficients, economic interpretation and the development of further prospects of these models implementation. During the implementation of the algorithm it was obtained the complex models of gross agricultural production, labor productivity in agricultural enterprises, financial result (balance) of the enterprises of AIC before taxation, and profitability of agricultural production. These models consider the influence of the following factors: the amount of actual total expenditures to finance the Ministry of Agrarian Policy of Ukraine, share of the General Fund in expenditures to finance the Ministry of Agrarian Policy of Ukraine, the level of actual implementation of the expenditures to finance the Apparatus of the Ministry of Agrarian Policy and Food of Ukraine, share of the General Fund expenditure to finance the Apparatus of the Ministry of Agrarian Policy and Food of Ukraine, and the amount of actual total expenditures to finance the major developments of new technologies in the field of agro-industrial complex development, financial support for training the scientific personnel and scientific developments in the field of standardization.

Conclusion. The proposed multifactorial models by authors are adequate, and their statistical quality, significance and reliability are sufficient to predict the development of the agricultural sector in terms of public finance and further researches of the authors.

Keywords: Comprehensive Assessment; Modeling; Agricultural Sector of the National Economy; Expenditures for Financing; General Fund; Special Fund

JEL Classіfіcatіon: C13; C25; H61; Q18

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Received 10.03.2015