ZVERYAKOV M. I., ZHERDETSKAYA L. V.
– Banking and real sectors of Ukraine’s economy: assessment of relationships and the development determinant
Causal relationships between development of banking system and growth of Ukraine’s economy using the Granger test have been analyzed. It is proved that direction of relationship depends on the stage of business cycle: in periods of instability, economic dynamics determines development of the banking sector (demand following hypothesis); in recovery phase, development of the banking sector affects economic growth (supply leading hypothesis). Keywords: economic growth, banks, real sector of Ukraine’s economy, Granger test, demand following hypothesis, supply leading hypothesis.
© Зверяков Михаил Иванович (Zveryakov Mikhail Ivanovich), 2017; e mail: firstname.lastname@example.org; © Жердецкая Лилия Викторовна (Zherdetskaya Liliya Viktorovna), 2017; e mail: email@example.com.