State regulation of household income as a factor of socio-economic development

Анотація

The article examines the impact of state social standards on the volume and structure of consumer spending of Ukrainian households in the context of their participation in the processes of investing in human capital and forming resource conditions for socio-economic development. The impact of inflationary processes on the ability of households to allocate a significant share of consumer spending on the purchase of goods and services related to human development is assessed. For this purpose, real purchasing power embodied in the amounts of the legislative and actual subsistence minimums and in the minimum wage during the retrospective period was calculated (the amounts of social standards are expressed in constant prices of the base year 2014). Empirical evidence is obtained of the inability of the state income policy implemented during the retrospective period to counteract the erosion of the real purchasing power of basic social standards and the stagnation of the economic opportunities of households. It is substantiated that Ukrainian households during the retrospective period were almost deprived of resources for investing in human capital, which naturally narrows the circle of beneficiaries of economic growth and does not allow ensuring its sustainability.

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