SHS Web Conf.
Volume 100, 2021IV International Scientific Congress “Society of Ambient Intelligence – 2021” (ISCSAI 2021)
|Number of page(s)||7|
|Section||Information Technologies and Business Innovations|
|Published online||25 March 2021|
Transition from Vertical to Horizontal Industrial Policy in Ukraine: Effects on Industrial Sector Growth
1 State Organization “Institute for Economics and Forecasting of NAS of Ukraine”, Department of Industrial Policy, 01011, Kyiv, Ukraine
2 King Danylo University, Department of Finance and Accounting, 76018, Ivano-Frankivsk, Ukraine
3 Ukrainian-American Concordia University, Department of International Economic Relations, Business, and Management, 01054, Kyiv, Ukraine
* Corresponding author: email@example.com
This paper explores the determinants of industry’s value added growth related to transition of Ukrainian industrial policy from vertical to horizontal type in 2015. The method used is econometric modelling through building multiple linear regression, where the real rates of value added growth from year to year represent the dependent variable. As explanatory variables the real rates of capital investments, structural changes, institutional indicators of regulatory quality and index of economic freedom as well as dummy-variables denoting the periods associated with industrial policy transit were introduced into the model. The main finding of the study is the revealed negative effect of horizontal industrial policy on industrial sector productivity. Other results showed the significant contribution of capital investments growth rates and government support’s share in the State budget expenditures. The included institutional determinants as well as structural changes indicator didn’t play any significant role in providing of industry’s value added growth. The results of modelling were used in recommendations for matrix (combination of vertical and horizontal instruments) policy implementation in Ukraine.
© The Authors, published by EDP Sciences, 2021
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