Theoretical and Applied Aspects of Structural Economic Transformation and Its Impact on Quality of Life: European Experience and Implications for Ukraine

Анотація

The article theoretically and empirically substantiates the hypothesis that: structural economic transformations (focused on high-tech and medium-high-tech manufacturing, and knowledge-intensive services) and economic globalization influence the quality of life in EU countries, as measured by the Human Development Index (HDI). To empirically prove the hypothesis, individual regressions were used for each EU country. The models were calculated using the Ordinary Least Squares (OLS) method, applying adaptive time lags for each independent variable. A significant differentiation in the impact of structural changes on the Human Development Index was found, depending on the structural and qualitative parameters of the country's functioning and specialization. It is proven that structural changes in the direction of increasing the share of high-tech and medium-high-tech manufacturing, knowledge-intensive services, and economic globalization have a significant impact on the Human Development Index in transition economies and/or countries with a narrow specialization in specific types of economic activities (NACE). Conversely, in highly developed economies, the influence of structural changes on the quality of life is moderate. The highest Human Development Index is observed in countries where the technological structure of the Gross Value Added (GVA) is optimally combined, and the priority of economic development is efficiency, productivity, technological advancement, and innovativeness in the activities of high-tech and medium-high-tech manufacturing. It is established that, in most EU countries, the impact of structural transformations and economic globalization on the quality of life is delayed, manifesting after 1-3 years. It is theoretically and empirically substantiated that labor productivity is not a key driver of structural changes, but merely their result, which depends on the application of technologies, the innovativeness of production processes, socio-economic efficiency, and the production role of the country’s high-tech and medium-high-tech manufacturing and knowledge-intensive services in global value chains (GVCs). Based on the research results, conclusions regarding the priorities for the reconstruction and development of the Ukrainian economy are formulated.

Класифікація

Ідентифікатори

Схожі роботи