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Correlation of Monetization with Macroeconomic Development Indicators

Tetiana V. Kniazieva, Anna S. Maryna, Anna V. Shevchenko, Ella M. Prydatko and Olena G. Tkachenko
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Tetiana V. Kniazieva: Department of Marketing, National Aviation University, Kyiv, Ukraine
Anna S. Maryna: Department of Management, Financial and Economic Security, Donetsk National Technical University, Pokrovsk, Ukraine
Anna V. Shevchenko: Department of Marketing, National Aviation University, Kyiv, Ukraine
Ella M. Prydatko: Department of Management, Financial and Economic Security, Donetsk National Technical University, Pokrovsk, Ukraine
Olena G. Tkachenko: Department of Management of Foreign Economic Activity, Donetsk State University of Management, Mariupol, Ukraine

Economic Alternatives, 2022, issue 2, 264-279

Abstract: The topic is relevant since the research into the relationship between the monetization level of the country’s economy and other macroeconomic indicators is insufficient. The latter negatively affects the country’s economy as it is hard to find effective methods and tools for its development. The article aims to examine the monetization level of the country’s economy and its macroeconomic indicators, develop the model of their dependence, and evaluate it. Regression analysis is the leading method used in the study to build the multiple regression model. The latter helps to assess the extent to which macroeconomic indicators of economic development influence the monetization level of the country’s economy. The geographical spectrum of the study comprises five countries, namely Germany, China, Turkey, Poland, and Ukraine. The built model accounts for the differences between economically developed and developing countries and the following macroeconomic indicators: Exchange Rates, Employment Rate, GDP per capita, Minimum Wage level, Customer Price Index, etc. Through the correlation between the country’s economic saturation with liquid assets and other macroeconomic indicators, the model allows finding methods and tools to improve the country’s economic development.

Keywords: money supply; economic and mathematical modeling; monetization ratio (search for similar items in EconPapers)
JEL-codes: E59 (search for similar items in EconPapers)
Date: 2022
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