Ukraine on the Way Toward Sustainable Development
Published: 07 November 2014 by MDPI AG in The 4th World Sustainability Forum session Economic, Business and Management Aspects of Sustainability
Abstract: The article is devoted to the research of household consumer spending behavior as a source of the sustainable economic development in Ukraine. The research proves that there is a reversible relation between the HDI and the level of shadow economy. In the consumer spending structure the expenditure on the environment protection, intellectual and physical development are on the lowest level whereas the expenditure on public order processing, safety and judiciary are unreasonably high. In Ukraine during 2002-2017 there is an obvious trend of the HDI increase under a fall of shadow economy level, and in 2007-2012 vice versa – under a level increase of shadow economy the HDI decreases. Economic growth, corruption overcoming, optimization of the household consumer spending structure and economic management system in order to guarantee a comfortable life for Ukrainians is an urgent and essential strategy of the sustainable development of Ukraine. The main directions of increasing the human development index are identified with the aim of determination the strategies on the way toward European integration.
Keywords: Sustainable development; Ukrainian economy; consumer spending; human development index; shadow economy