American Journal of Applied Sciences

Macroeconomic Variables Analysis in Ukraine: An Empirical Approach with Cointegration Method

Nikolaos Dritsakis and Katerina Gialetaki

DOI : 10.3844/ajassp.2005.836.842

American Journal of Applied Sciences

Volume 2, Issue 4

Pages 836-842


This study investigates the relationship among exports, economic growth, investments and employment in a former country of the Soviet Union such as Ukraine. The purpose of this study was to examine the long-run relationship between these variables using quarterly data for the period 1991:I-2000:IV and applying the cointegration analysis as suggested by Johansen and Juselious. Then a multivariate autoregressive vector model (VAR) is used to estimate the short-run and the long-run relationships of variations of this model. The results suggested that export growth in combination with the increase of investments and employment have a positive effect on Ukraine’s economic growth.


© 2005 Nikolaos Dritsakis and Katerina Gialetaki. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.