Investigation of advantages and disadvantages of market economy

Filipova Liubov () and Tushynska Valentyna ()
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Filipova Liubov: University of the State Fiscal Service of Ukraine, Irpen, Kyiv Region
Tushynska Valentyna: University of the State Fiscal Service of Ukraine, Irpen, Kyiv Region

Technology audit and production reserves, 6(38) 2017, 2017, vol. 6, issue 5(38), 51-57

Abstract: The object of research is formation of a market economy. The formation of a market economy is characterized by complex and contradictory relationships, the management of which requires the continuous improvement of methods of economic analysis and development of new methods for processing and systematizing analytical information in accordance with international and national standards. One of the most problematic places in the study is the correct interpretation of the concept of a market economy, taking into account its disadvantages: stratification of society, rising unemployment, deterioration of public goods. In the course of the study, the following methods were used: analysis and synthesis, logical generalization, analogies, comparative comparisons, monographic and graphoanalytical methods. This will allow in the long term to eliminate the incorrect interpretation of the term of the market economy, and also to eliminate the disadvantages: stratification of society, rising unemployment and others. Correct interpretation of the term "market economy", in the opinion of the authors, is obtained, as well as the impact on economies of countries that have switched to a market economy. This is due to the fact that the proposed interpretation has a number of features of the definition, in particular the definition taking into account the present. Thanks to the transition to a market economy, GDP per capita, unemployment and other key indicators for the economy are improving. The transition from a planned to a market economy is compared. That is, how the indicators changed to the transition and after.

Keywords: market economy; advantages and disadvantages of market economy; gross domestic product (GDP); exports of Baltic countries (search for similar items in EconPapers)
JEL-codes: L19 (search for similar items in EconPapers)
Date: 2017
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