EFFICIENCY EVALUATION OF REGIONAL INVESTMENT POLICY IN UKRAINE BASED ON DEA ANALYSIS
Abstract
The article focuses on the input and output of DEA-oriented models for assessing the effectiveness of a regional investment policy, and the value of the technical CRS and VRS of the efficiency and scale efficiency SE of each region for the period from 2015 to 2017 has been derived. The main advantage of DEA models in comparison with the parametric approach has been argued. It is in the absence of the need to make many assumptions for the correct interpretation of the results of simulation. Two different input variables have been used in DEA models for assessing the effectiveness of regional investment policy in Ukraine: capital investment and direct foreign investment, and three outputs: gross regional product, employment rate, and exports per one person. The obtained results testify to the rather high level of average efficiency of regional investment policy in Ukraine. The surprisingly low technical efficiency of Kyiv has been noted, that may be explained by the fact that its share in such input parameters as capital investments and foreign direct investments is 30% and 60% respectively, which significantly exceeds the city's share in the output parameters.
References
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