Inclusive Development of Ukraine: Problems and Prospects

Tetiana Kozhemiakina

, Vita Makarenko

, Kateryna Slyusarenko

and Inta Kotane

Department of Health Management, O.O. Bogomolets National Medical University, Victory Avenue, Kyiv, Ukraine

Institute of Management and Business Education, State University of Economics and Technology, Kryvyi Rih, Ukraine

Faculty of Economics and Management, Rezekne Academy of Technologies, Rezekne, Latvia

Keywords: Inclusive Growth, Inclusive Development Index, Ukraine, Emerging Economies.

Abstract: The essence of a new inclusive approach was analyzed. It is used, on the one hand, for definition of

measurement indexes and evaluation of current state of countries economic and social development; on the

other hand, as an instrument for the identification of countries strategy of perspective directions development.

The authors’ interpretation of the research methodology to determine the ways for achieving the main goal of

the country inclusive development was offered. It is carried out through the system characteristics of its

economics such as growth and development (productivity), environmental friendliness (sustainable

development), inclusiveness (involvement) and appropriate model. Essential, fundamental components of

inclusive development of Ukraine were identified and classified. The obstacles preventing such development

were revealed and effective mechanisms of overcoming the obstacles were suggested.

1 INTRODUCTION

Transformational processes in the world have

extremely accelerated for last years that is accepted to

join it with increasing the speed of information of

creation. In this regard there is a need for determining

the new coordinate system and indicators for

measurement and evaluation the state of countries

economic and social development and defining its

future perspective ways. Now Ukraine is in such

situation when it should determine the strategic

priorities of transformation. After all the previous

experience proves that the success hasn`t been

achieved for 30 years of independence. This is

evidenced by the loss of positions on the world

arena

and the low level of life. Based on the fact that the

world`s leading countries have started to evaluate the

success of its existence through the expanded system

of indicators which hasn`t been limited only by

economic component, it is expedient to consider the

state of Ukraine from the position of inclusive

development and identifying the existing problems, to

find out possible ways and mechanisms of their

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overcoming. Therefore, consideration of this problem

is looking so actual today.

2 LITERATURE REVIEW

OECD (2015) interprets the Inclusive growth as

«economic growth which creates opportunities for all

segments of the population and distributes advantages

in society more rightly from increased welfare in

monetary and non-monetary expression»

The World Bank experts and IMF (2021)

determine the Inclusive growth as resistant economic

growth that has the main goal – it`s reducing the

property and inequality. In such sense the world

economic forum also focuses on the poor, especially

in that part of workforce that is involved in activity

with the low productivity and/or is fully excluded

from the process of growth.

Reza Hasmath (2015) summarizes in her work

that «This inclusive growth should be understood as

a model of economic development aimed at creating

and developing a balanced socio-economic system,

108

Kozhemiakina, T., Makarenko, V., Slyusarenko, K. and Kotane, I.

Inclusive Development of Ukraine: Problems and Prospects.

DOI: 10.5220/0011342200003350

In Proceedings of the 5th International Scientiﬁc Congress Society of Ambient Intelligence (ISC SAI 2022) - Sustainable Development and Global Climate Change, pages 108-116

ISBN: 978-989-758-600-2

taking into account social equality, environmental

protection and natural resources. In the same way,

inclusive growth is understood as economic growth

aimed at increasing wealth and reducing inequality

through an open and equitable distribution of wealth

among the population».

The purpose of the article is defining the essential,

fundamental components of inclusive development of

Ukraine and searching for effective mechanisms of

overcoming obstacles that arise along the way of this

development.

The world science community elaborates new

indicators which could allow to measure and evaluate

the successful development of countries in modern

realities. The question of Inclusive Development has

been elaborated by scientists for a long time.

Inclusiveness in macroeconomic meaning is

considered like the opposite to poverty and

inequality. After all, poor segments of the population

of either country are completely removed from the

process of creation the useful product and word in

«tin» sphere or work with the lowest productivity. It`s

lower than the average level of labor productivity in

the country.

3 METHODOLOGY

The world has been already divided into

economically developed and not economically

developed, we speak about advantages of the Service

Industries over the sphere of production in creation

the GDP and focus on people`s satisfaction with life

in their country but we have still measured the

position of countries in the world ranking based on

the level of GPD per capita and don`t consider the size

of Gini index in evaluation. In Davos 2018 the

International forum stopped such evaluations and

emphasized that such approach is fully grounded and

don`t express the real state of cases concerning

development of the world. In return there is offered a

new approach to evaluation, there is the Inclusive

Development Index.

In 2018 in the International economic forum in

Davos there was represented to the general public the

indicator Inclusive Development Index. According to

experts this is the indicator that demonstrates us the

real state of the world economy through the

determination of capacity of every country to provide

economic benefits for all the citizens.

The index has been expected to change our

perception of real picture of the world. For Ukraine

such transformations mean that while choosing the

ways of developments and formation of state policy,

it must be necessarily considered how accepted

decisions are able to affect the level of country`s

Inclusive Development, that is whether there will be

economic growth (which, we hope, not only will be

reached but will also acquire the signs of stability and

even acceleration) to benefit all citizens of Ukraine.

Otherwise, it means only another round of local

oligarchs’ enrichment and further impoverishment of

the nation as a whole.

The Inclusive Development Index is a complicated

integral index which includes the evaluation of

economic and social development of the country and

indexes which are divided into three groups (fig. 1).

Such division fully complies with the concept which

is declared by the world community. The concept is

«Growth – Fortitude – Inclusiveness».

Figure 1: Inclusive Development Index.

The following research methods were used

theoretical ones such as analysis, synthesis, empirical

and statistical methods.

4 RESULTS AND DISCUSSION

According to the data which was published at the

Worldwide economic forum in Davos in 2018,

Ukraine took the 49

place in the world among

developing countries and the last place in Europe

according to the level of such index.

Overall IDI score Inclusive Development Index

made up 3.42 and 5-year trend IDI overall is -6,8%

for Ukraine. It indicates extremely unsatisfactory

results of the country development and its negative

tendency.

Inclusive Development of Ukraine: Problems and Prospects

109

Such far from developed countries as Honduras

(46

place), Pakistan (47

place) and Tanzania (48

place) took higher places than Ukraine in the list and

demonstrated better results in development.

Honduras overall IDI score of Inclusive Development

Index made up 3.61 and 5-year trend IDI overall is

+2,03%, Tanzania overall IDI score Inclusive

Development Index made up 3.43 and 5-year trend

IDI overall is +3,86%. As for Pakistan, its overall IDI

score of Inclusive Development Index makes up 3.55

and 5-year trend IDI overall is equal to +7,56%.

Ukraine demonstrating negative rates of

economic and IDI growth has created poor image in

the international area. As a result, we may predict

further rating decline in the coming years.

Slow or even negative rates of economic growth

for the whole period of Ukrainian independence

caused the country lagging significantly behind the

GDP level per capita not only in comparison with

economically developed countries but also

comparing to the former Soviet Union republics.

Considering the components of «Inclusiveness» and

«Environmental friendliness» you should bear in

mind that Ukraine lags far behind according to these

indicators.

On the report of the World Economic Forum

(2017), the worst components of IDI for Ukraine were

such as follows:

- financial intermediation of real economy

Investment (only such components as Domestic credit

to private sector by banks (% of GDP) and Private

R&D Expenditure (% of GDP) had a positive impact

on IDI. At the same time other components such as

Local capital market access, Venture capital

availability, Large and Small Cap IPOs to NFCs

(weighted per $100 Billion USD GDP)) were adverse.

Corruption and rent-seeking demonstrate highly

negative meanings among almost all the components

of Indexes (business and political ethics, judicial

independence, diversion of public funds, irregular

payments in tax collection, ethical behavior of

companies, irregular payments in public contracts,

favoritism and nepotism in government officials

decisions, concentration of rents, extent of market

dominance, intensity of competition, effectiveness of

antitrust policy, concentration of banking sector

assets). But despite all the above mentioned the

highest index of the group is the public trust to

politicians, which suggests that citizens of Ukraine are

influenced by propaganda from the side of dishonest

politicians through the media.

Asset building and entrepreneurship had some

unfavorable indexes among the negative indicators

such as protection of property rights, private pension

assets (% GDP), cost of resolving insolvency (% of

estate value) and contract enforcement cost (% of debt

value).

Fiscal transfers contain such components as

Extent and effect of taxation on incentives to work,

Extent effect of taxation on incentives to invest, Total

tax wedge (% of labor cost).

Comparisons of IDI components of Ukraine and

other countries are given in the table 1.

Table 1: Comparison of IDI components in different

countries.

Group of

indicators

Indicator

Countries

Roma

nia

Bulga

ria

Russian

Federatio

Ukrai

Rankin

lace 10 11 19 49

GROWT

H &

DEVELO

P-MENT

GDP Per

Capita

Growth, %

3,7 2,5 0

-1,4

Labor

Productivit

y Growth,

4,0 1,3 0 -3,2

Healthy

Life

Expectanc

y Trend,

Yrs

1,7 1,2 2,4 1,9

Employme

nt Trend,

0,9 3,2 -0,3 0

INCLUSI

Net

Income

Gini Tren

0,6 0,9 0,7 -0,6

Poverty

Trend, %

-0,5 -0,4 0 0,3

Wealth

Gini Tren

-10,7 -9,6 -10,5 0,1

Median

Income

Trend, $

0,3 2,4 -0,1 -0,6

INTERGE

NE-

RATION

EQUITY

SUSTAIN

-ABILITY

Adjusted

Net

Savings

Trend, %

1,9 3,4 -3,2 -0,7

Carbon

Intensity

Trend, Kg

Per $ Of

GDP

-3,7 -6,3 -13,8 -32,7

Public

Debt

Trend, %

1,6 11,2 5,3

43,7

Dependenc

y Ratio

Trend, %

2,1 4,9 5,0 2,6

Source: World Economic Forum

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As Table 1 shows, Ukraine has the most severe

problems with economic growth, declining

productivity and public debt rising.

We should emphasize that the best indicators are

shown by the countries which have joined the

European Union. They show economic growth,

productivity increase, median income rise, poverty

reduction, public debt decrease and others.

Meanwhile, the best indicator for Ukraine is the

declining trend in carbon intensity. However, it is

mostly due to reduced industrial production, which,

in its turn, is a negative factor.

It should be taken into consideration that the

collection of statistics in Ukraine is somewhat

different from European and international practices.

Some indicators are not recorded by the State

Statistics Committee of Ukraine, which complicates

the calculations.

There is also a substantial discrepancy between

country statistics and real state of affairs. This

deviation is due to a significant share of the «shadow

sector» in economics, which, according to reliable

data, is at least 60 percent of Ukraine's economy.

In practice, Ukrainians face many problems in

inclusive development. In particular, it is

unavailability of vital space for people with

disabilities and inaccessibility of medical care for all

segments of the population except for the wealthy.

Legal requirements for inclusive infrastructure

and public institutions are perceived by business

entities with neglect of standards which makes them

unusable. Besides, implementation of the medical

reform provisions is slowed down by insufficient

funding from the state and by the active resistance of

local entities whose personal financial interests are

interfered.

At the same time, it is worth pointing out that the

reforms started under President Poroshenko have

already yielded positive results.

Ukrainian economics has undergone the greatest

systemic changes due to decentralization reform.

The essence of decentralization reform is to divide

the country into united territorial communities. Thus,

nowadays lion share of the taxes remain in the

community where they are collected. Local self-

government has the right to decide on issues of local

importance themselves without involvement of other

official bodies.

Previously, taxes were accumulated in Kyiv and

distributed among the regions in the form of

subventions. It created significant opportunities for

misuse and corruption.

Today, communities set their own priorities in the

use of funds. Consequently, their members can

control the efficiency of the expenditures more

effectively. The state conducts public consultations

with communities and all-Ukrainian associations of

local self-government.

In addition, some progress in health care reform

has been witnessed. Signing of declarations with

family doctors at the primary level was very quick.

Just in the first half of 2018, 25 million Ukrainians

signed declarations with family doctors. It gave

opportunity to rise funding for primary care and

increase the salaries of doctors. Doctors received a 3-

4-fold increase in salaries, which significantly

improved their attitude to health care reform.

Secondary and tertiary levels, where the reform

did not come so quickly, unfortunately, were not so

successful in terms of reforming their activities. Quite

low tariffs do not allow hospitals to provide patients

with quality medical services.

The most painful problems of healthcare

transformation in Ukraine were such as:

- unwillingness of hospitals to switch to funding

to pay for the results of work (money follows the

patient);

- lack of hospitals readiness to implement patient-

oriented service;

- weakness of hospital unions in defending the

interests of teams in wages and salaries;

- cases of abuse by management in the payment

distribution;

- biased official competitions for replacement of

hospital management positions and other.

The most difficult factor in opposing the reform

was reaction of doctors and patients, who did not

realize the essence and prospects of the reform.

Unfortunately, the reform of the judicial system

introduced by President Petro Poroshenko has not

been implemented yet. The reason for it was the short

deadlines for its implementation.

The Ukrainian law enforcement system has also

remained partially reformed.

The whole system of anti-corruption bodies was

created in Ukraine to fight corruption. Namely, they

are:

- National Council on Anti-Corruption Policy;

- National Anti-Corruption Bureau of Ukraine;

- National Agency for the Prevention of

Corruption;

- Specialized anti-corruption prosecutor's office;

- State Bureau of Investigation;

- Supreme Anti-Corruption Court.

During the tenure of the fifth President of Ukraine

Petro Poroshenko, first lady Maryna Poroshenko took

care of inclusive education. The goal of the inclusion

project was to create and develop an inclusive

Inclusive Development of Ukraine: Problems and Prospects

111

educational environment for children with special

needs in secondary schools.

New educational institutions were created within

the project, the position of a teacher's assistant was

introduced, and special educational materials were

published. The textbook «Inclusive Education» by

Maryna Poroshenko is one of them.

Owing to the introduction of inclusion, the

number of children with special needs who have the

opportunity to learn fully increased almost tenfold -

from two and a half thousand to 24 thousand students.

Unfortunately, these steps were not enough to

improve the state of inclusive development of

Ukraine significantly.

We use the IDI model to identify problems and

assess development prospects. The model of IDI is

perfectly suitable for the identification of

development problems of the country and defining

prospects for its improvement. The ultimate goal of

the world community according to the direction of

Inclusive growth is formulated as «Growth –

Fortitude – Inclusiveness».

According to the economic terms achievement of

such goal is possible through three system

characteristics of countries economy: productivity –

environmental friendliness – involvement which, in

its turn, can be divided into components of lower

level (fig. 2).

Figure 2: Components «Growth – Sustainability –

Inclusiveness» as a goal of the World Community

development.

Basing on the above-mentioned components, we

can identify reasons of unsatisfactory economic

growth rates in Ukraine in the 21st century which are

as follows:

А. As for the component of productivity:

- using the outdated technique in all economic

spheres and branches (Table 2);

- applying the outdated technologies in all

economic spheres and branches;

- using the outdated control technologies in all

economic spheres and branches;

- insufficient staff qualifications, non-compliance

of qualifications to the modern structure of the world

economics;

- insufficient staff motivation because of the low

wages; limitation and imperfection of methods and

mechanisms of motivation (Fig. 3.).

B. Regarding the component of environmental

friendliness:

- high resource intensity of production of goods,

works, services (material consumption, energy

consumption, fuel consumption, human capacity etc.)

(Fig. 4);

- too low component removal rate when using

resources;

- no resources recycling and reusing;

- high level of emissions into the environment in

process of product production.

C. Concerning the involvement component:

- insignificant part of society which is involved in

product creation in the form of labor;

- a significant part of society which is excluded

from the product creation because of departure to

work abroad;

- a significant part of perspective youth which is

removed from the process of labor reproduction and

from Ukrainian society in future because of getting

the education abroad and desire to stay there for

permanent residence;

- a significant part of society which is involved in

product creation in the form of labor in «grey» sector

of economy;

- excluding people with specific, special needs

from the formation of aggregate demand;

- insignificant part of society that takes part in

formation of investments in the economy,

concentration of financial resources in the hands of

«an oligarchy».

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Table 2: The degree of depreciation of fixed assets (2018).

Type of economic activity

TOTAL

60,6

Agriculture, forestry and fisheries

35,4

Industry

66,4

Mining and quarrying

43,1

Total manufacturing

64,3

Including the following:

- Manufacture of wood products, paper

production and printing

87,9

- Metallurgical production, production of

finished metal products

68,9

- Manufacture of other machinery and

equipment

60,5

- Manufacture of motor vehicles,

trailers and semi-trailers and other transport

equipment

63,7

Supply of electricity, gas, steam and air

conditioning

73,7

Water supply; sewerage, waste

management

77,4

Construction

44,5

Wholesale and retail trade; repair of motor

vehicles and motorcycles

42,1

Transport, warehousing, postal and courier

activities

62,9

Temporary accommodation and catering

41,7

Information and telecommunications

59,9

Publishing, production of motion picture

and video films, television programs,

publishing of sound recordings, activity in

the field of radio and television

broadcasting

Financial and insurance activities

44,8

Real estate transactions

57,5

Professional, scientific and technical

activities

50,3

Activities in the field of administrative and

support services

Source: State Statistics Committee of Ukraine

Figure 3: Minimum wage in Ukraine and some European

countries (2021), Euro.

Source: www.worldenergy.org/data/efficiencyindicators

Figure 4: Primary energy intensity of Ukraine 's GDP,

compared to Europe and Germany, 2009-2014 (kg of oil

equivalent per $ 1. USA -kg AD / $ 2005).

Following the results of 2017, it was indicated in

the report of the Worldwide Economic Forum (2018)

that improving the workers training, simplification of

the starting up procedure and registration of a new

business and entrepreneurs’ access to financial

resources, strengthening the fight against corruption

must become priority areas of Inclusive Development

in Ukraine.

At present, in 2021 we can see only one positive

step ahead which is simplification of the new business

creation and registration procedure.

The problems of Ukrainian education should be

dwelt upon in particular. In terms of public spending

on education in GDP, Ukraine is one of the leaders in

the world. While OECD countries spend on average

of 5.0-5.2% of GDP on education, Ukraine spends

6.2% of GDP on education. But, due to low level of

Ukraine GDP, everything is not all rosy in monetary

terms. (Zherebylo, 2018)

As a result, educators receive low salaries and

have low interest in the quality of their work. The

average age of employees at all levels of education is

increasing. It is explained by the fact that young

people are not interested in long term working for a

salary lower than the cashier’s of the supermarket.

Education in Ukraine is characterized by students’

achievements being lower than in most EU countries.

It is evidenced, in particular, by the low positions of

Ukrainian universities in European and global

rankings. Attempts to reform the education by

granting autonomy to universities have not yet

yielded tangible results.

An important shortcoming of the country's

education system is the unequal access to quality

education. In particular, rural students often do not

have the opportunity to receive adequate secondary

education. Consequently, such children have

problems with higher education in future.

Inclusive Development of Ukraine: Problems and Prospects

113

There are also problems with the effectiveness of

education funding in Ukraine. Secondary education

has not responded to demographic change in the

country since gaining independence. Thus, the

number of schoolchildren in 1991-2018 decreased by

43.3%. The number of general secondary education

institutions decreased by 28.9% and the number of

teachers - by 17.9%. Accordingly, schools lack funds

both for teachers' salaries and for updating the

material base. (Tarasenko, 2021)

Rapid urbanization led to an increase in the share

of the local population which caused differences in

the number of students in classes in urban and rural

schools. One teacher in the city has twice as many

students as a village teacher, and there are four times

as many students in a city class.

In general, it can be stated that the education

system is not in line with the strategic goals of the

country's development.

Besides, the problem of inconsistency of curricula

and teaching methods with modern requirements still

remains.

Poor education and training results are manifested

in the inability of the graduates of higher and

vocational education to meet the needs of the labor

market.

As a result, the country is experiencing an acute

shortage of skilled workers and difficulties in

employing graduates.

Updating the workers’ training does not take place

due to low interest in such education from Ukrainians

because representatives of working professions don`t

get high salary. Therefore, these workers prefer

temporary work or even constant labor migration to

the EU countries.

Such migration process is quite justified, because

the average purchasing power per capita in Europe in

2021 is 15,055 Euros, while in Ukraine this figure is

only 1892 Euros per capita. This is less than 13

percent of the European average figure.

25 percent from 3 million migrants who arrived in

the EU in 2019 were Ukrainians. That makes up

757,000 people out of nearly 3 million who came.

The largest number of labor migrants from

Ukraine go to Poland. According to the Polish

Foreign Ministry (2020), Polish consulates issued

almost 900,000 visas to Ukrainians in 2019, from

which 895.7 thousand were national visas (Fig. 5).

Source: Main Statistical Office of Poland

Figure 5: The number of foreigners who were in Poland as

of December 31, 2019.

The failure to fight corruption is one of the

reasons for lack of entrepreneurs’ access to cheap

financial resources which are necessary for starting a

business.

The serious problem for the development of

economy of Ukraine is transferring significant part of

tax burden by ill-considered and populist innovations

of digitalization from large business to small and

midsize business, replacement of cheaper energy

resource for more expensive one that is immediately

reflected on the value of goods and services and many

others.

Using the proposed model (fig. 2) according to

identified reasons for the slow growth rate, we can

form a list of ways to overcome such backwardness.

A. As for the component of productivity:

- renewal the outdated technique in all economic

spheres and branches;

- renewal the outdated technologies in all

economic spheres and branches;

- renewal the outdated control technologies in all

economic spheres and branches;

- transformation of education for providing staff

teaching and retraining according to modern

requirements and modern structure of world

economy;

- more balanced approach to innovation of

digitalization and taxing, and their introduction to

small and midsize business only after qualified and

deep research of essence and effects of realization

such innovations. Creating effective mechanisms

their realization in contrast to nowadays «populism»

and superficiality;

- increase the level of payment of staff such as

taking part in company`s profits etc.

B. Regarding the component of environmental

friendliness:

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- renovation of the outdated technique and

technology in all spheres and branches of economy

with an emphasis on progressive resource – saving

and environmentally friendly technologies and

possibility of recycling and reusing resources;

- improving energy efficiency in all sectors and

areas of the economy.

C. Concerning the Involvement component:

- «de-shadowing» of the economy;

- formation of aggregate demand taking into

account the needs of the people with specific, special

needs, its expansion due to satisfaction such needs;

- «de-oligachization» of economy;

- formation the favorable climate for creation of

small and midsize business entities by citizens of

Ukraine.

5 CONCLUSIONS

As follows, the modern model of IDI is comfortable

for the identification of development problems of the

country and researching for prospects its

improvement. Achievement of the triune goal of the

inclusive development of a country «Growth –

Sustainability – Inclusiveness» is possible through

system characteristics its economy. Productivity –

environmental friendliness – involvement which are

divided into set of components of lower level. Based

on such model, we can single out a number of reasons

for the unsatisfactory paces of inclusive growth in

Ukraine in the 21

century and there were offered a

list of ways to overcome such bachwardness.

The conducted studies showed that a number of

reforms were carried out in Ukraine in 2014-2019,

which addressed some issues of social development,

such as inclusive education, and laid the grounds for

fundamental institutional changes in society and the

economy, in particular, decentralization, medical and

anti-corruption reforms. Their implementation is to

improve the level of inclusive development of

Ukraine significantly.

At the same time, it should be pointed out that

after 2019 there is a slowdown in reform processes,

which produces a negative impact on inclusive

development and will undoubtedly lead to

deterioration in the values of the Ukraine IDI.

The main problems of inclusive development in

Ukraine were identified as follows:

1. Low level of labor productivity associated with

the obsolescence of machinery and production

technologies, as well as poor motivation of workers.

2. Low level of energy efficiency in all spheres

and branches of economy.

3. The complexity of doing business.

4. Unsatisfactory quality and lack of accessibility

to education, especially at the vocational training

level and in rural areas.

5. Unsatisfactory quality and unavailability of

medical care for the population.

6. High level of corruption and "shadowing" of the

economy.

7. Inefficient system of small and medium

business taxation.

8. Extreme level of workers’ and employees’

labor migration with subsequent residence permits

and moving to other countries for permanent living.

9. Low standards of living, wages and salaries.

In our opinion, in order to accelerate the inclusive

development of Ukraine in the context of identified

three systemic characteristics of the country's

economy: productivity-environmental-involvement,

it is necessary to implement such measures as:

1. Updating of equipment and technology, energy

efficiency increasing of all branches of economics.

2. Economy de-shadowing.

3. Active reform of such socially significant areas

as medicine and education.

4. Preventing the implementation of corruption

deals.

5. Attracting foreign investment and creating

favorable opportunities for Ukrainian entrepreneurs

to do business and create new jobs.

6. Wage and salary Increasing.

Comprehensive implementation of above-

mentioned measures accelerates inclusive growth in

consistence with Ukraine's potential.

Taking into consideration the complexity and

complication of the issue, there is an urgent need for

further research involving a special apparatus of

economic and mathematical modeling.

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