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Natural Resource Systems and their Impact on the Economic Development of Ukraine

Author

Listed:
  • Oksana Vladimirovna Sakal

    (State Institution «Institute of Environmental Economics and Sustainable Development of the National Academy of Sciences of Ukraine»)

  • Natalia Antonovna Tretiak

    (State Institution «Institute of Environmental Economics and Sustainable Development of the National Academy of Sciences of Ukraine»)

Abstract

To assess the impact of natural resource systems (natural resources in general, land and forestry in particular) on the development of Ukraine’s economy the authors calculated the separate elasticity of growth factors, which are the labor (number of employees), physical capital (value of fixed assets) and natural capital. All results are based on the Cobb - Douglas production function in logarithmic form. Depending on the influence level of the functioning effects of natural resource systems (high, medium, low) the authors divided Ukraine’s regions into three groups. This impact assessment of integrated resource potential (natural resource systems) gives a more optimistic result than the results of its components (land and forestry complexes). In the first case there are 6 regions in the group with low impact, whereas in the second case - 10 and 14 regions, respectively.

Suggested Citation

  • Oksana Vladimirovna Sakal & Natalia Antonovna Tretiak, 2015. "Natural Resource Systems and their Impact on the Economic Development of Ukraine," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 1, pages 135-143.
    • Handle: RePEc:far:spaeco:y:2015:i:1:p:135-143
    DOI: 10.14530/se.2015.1.135-143
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