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Features of Formation of the Gold Reserve of Ukraine and Evaluation of Its Use
Derkach T. V.

Derkach, Tatyana V. (2019) “Features of Formation of the Gold Reserve of Ukraine and Evaluation of Its Use.” Business Inform 4:306–313.
https://doi.org/10.32983/2222-4459-2019-4-306-313

Section: Finance, Money Circulation and Credit

UDC 336.743.22:336.722.8

Abstract:
The article presents the results of research on the gold reserve of Ukraine and evaluation of its use as an instrument of financial policy of the State. The role and functions of gold in the country’s economy are defined. The dynamics of the gold reserve of Ukraine during the period of its independence is analyzed. For the purposes of forecasting of inflation and rate of the national currency in comparison with other currencies, the cyclical changes in dynamics of the gold reserve are allocated, going along in trend with cyclicity of the market economy and random fluctuations. The author compares the tendencies of change of the absolute size of GDP and the gold reserve of Ukraine, also the rates of their growth. The dynamics of the gold reserve of Ukraine is characterized in comparison with dynamics of the monetary base. The regression curve of deficit of the State budget of Ukraine and its gold reserve is built. The correlation coefficients between the price indices and the value of the gold reserve are calculated.

Keywords: gold, gold reserve, gold and currency reserves, GDP, monetary base, budget deficit, price indices.

Fig.: 6. Tabl.: 1. Bibl.: 17.

Derkach Tatyana V. – Doctor of Sciences (Economics), Associate Professor, Head of the Department, Department of Management, International Humanitarian University (33 Fontanska doroha Str., Odesa, 65009, Ukraine)
Email: [email protected]

List of references in article

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Popivniak, Yu. M. “Problemy funktsionuvannia iuvelirnoi promyslovosti Ukrainy u svitovomu konteksti ta shliakhy yii rozviazannia“ [Problems of functioning of the Ukrainian jewelry industry in the global context and ways of its solution]. Aktualni problemy ekonomiky, no. 9 (2013): 62-69.
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Bodrova, N. “Svitovi rynky dorohotsinnykh metaliv: suchasnyi stan ta osnovni chynnyky vplyvu“ [World precious metals markets: the current state and the main factors of influence]. Visnyk Natsionalnoho banku Ukrainy, no. 7 (2011): 26-32.
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Chekalova, N. E. “Matematicheskiy apparat dlya analiza ekonomicheskoy nestabilnosti“ [Mathematical apparatus for the analysis of economic instability]. Natsionalni osoblyvosti ta svitovi tendentsii upravlinnia ta administruvannia na makro-, mezo- i mikrorivniakh ekonomiky, vol. 1. Dnipropetrovsk: PDABA, 2016. 33-37.

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