Institute

	Institute for Economics and Forecasting,
	Ukrainian National Academy of Sciences

Organization “Institute for Economics and Forecasting, Ukrainian National Academy of Sciences” in accordance with Decree by the Presidium of Ukrainian NAS of 06.07.2005 the Institute is the assignee of the Institute for Economic Forecasting, Ukrainian NAS, which was created in accordance with Decree by Ukraine’s Cabinet of Ministers of 19.07.1997 No 772 "On the creation of the Institute for Economic Forecasting, Ukrainian National Academy of Sciences” and the corresponding Decree by the Presidium of Ukrainian National Academy of Sciences of 09. 1997 (No 298) with the aim to ensure the elaboration of strategic forecasts and programs of Ukraine’s socio-economic development.

The Institute’s main task is conducting fundamental and applied research and developing, on that basis, guidelines and methods of development of the economic system, as well as making strategic forecasts and programs for the development of Ukraine’s economy.

The Head of the Institute is Academician of Ukrainian NAS Valeriy Heyets.

The Institute has fifteen research departments

Research is being conducted on the following guidelines:

	economic theory;
	modeling economic development;
	Economic growth, restructuring and industrial policy;
	financial and monetary regulation;
	financial and budget forecasting;
	researching the development of and regulation of financial markets;
	technological forecasting and innovative policy;
	modeling and short-time forecasting;
	sectoral forecasting and market conjuncture;
	economics management;
	economics and policy of agrarian transformations;
	forma and methods of economic management in the agro-industrial complex;
	monitoring-based research on socio-economic transformations of the Ukrainian society;
	socio-economic problems of labor;
	and economic history.

THE WAYS OF REALIZATION OF THE INSTITUTE’S RESEARCH RESULTS:

	Carrying out research projects on the solution of the most urgent problems of this country’s socio-economic development for interested state institutions and departments;
	elaboration and expertise of legal and normative documents , which are prepared by Ukraine’s legislative and executive authorities, such as: Verkhovna Rada of Ukraine; Cabinet of Ministers of Ukraine, Secretariat of the President of Ukraine, Ukraine’s Ministry of Economy, Ministry of Finance, State Committee of Statistics, Ministry of Education and Science, National Bank of Ukraine and others;
	publishing research papers, analytical works, and advisory notes,
	mass media publications, participation in seminars, conferences, and symposia
	Holding conferences and round tables on urgent issues of economic policy and the prospects of Ukraine's economic development, in which actively participate the members of the Government, Deputies of the Verkhovna Rada of Ukraine, and representatives of the National Bank of Ukraine and various Ukrainian commercial banks, the World Bank, the International Monetary Fund, as well as well-known scholars, and leading specialists of academic and sectoral science and high school professors.

THE MOST IMPORTANT RESEARCH RESULTS

Concerning the modern issues of economic theory:

	The main laws of architectonics as fundamental structures of the institutions in their interrelations with the essence and general esthetic plan of the construction of an integrate socio-economic system
	Interrelation between hierarchic and network structures in the development of economic systems
	Regularities of the logico-historical process of the formation of value and prices
	Structure and forms of the capitalization of Ukraine’s economy
	Development of the forms of exchange, value and money
	The bases of the formation, in Ukraine, of a medium-term monetary strategy
	Conditions and prospects for the introduction, in Ukraine, of an institution for inflation targeting

Concerning economic growth and restructuring in Ukraine’s economy:

	National savings as a factor of sustainable growth of Ukraine’s economy
	The state’s role in long-term economic growth, and its functions in the distribution and re-distribution of domestic product
	Competition and competition policy in Ukraine
	Optimization of fixed capital formation
	The new categorical apparatus and methodological tools to assess the structure of the real sector
	The bases of the formation of the state depreciation policy

Concerning model provision for the elaboration of long-term, medium-term and short-term forecasts of Ukraine’s socio-economic development:

	The strategy of transition from the current exogenously dependent model of the transformation of Ukraine’s economy to a predominantly endogenous orientation of the strategy of economic development
	The model of extended production function using integral indicators of Ukraine’s economic development
	Potential of endogenous growth of Ukraine’s economy based on various scenarios of the development of macro-economic situation in 2009-2015
	Methodological tools of short-term forecasting of the main macro-economic indicators including the changes in price competitiveness of Ukraine’s economy
	The model of the influence of structural changes on GDP dynamics and justification of the parameters of macro-structural harmonization

Concerning the provision of the development of financial markets, fiscal forecasting and financial and monetary regulation

	The foundations of the state financial security
	Financial markets: definition, measurements and stability provision
	Development of the state’s financial and budget system and priorities of the state’s financial policy
	Reforming the system of inter-budget relations
	Regulating the flows of foreign capital to the national economy
	Foundations of the management of foreign national debt to ensure long-term financial stability and expansion of investment potential of Ukraine’s real sector.
	The guidelines of financial policy as the basis for the consolidation of economic foundations of the Ukrainian state.
	Approaches to the solution of the problems of the expansion of financial resources, and increase in the efficiency of their use.
	The peculiarities and consequences of conducting a monetary policy with low monetization of the economy
	Interpretation of the notion of “company’s financial sustainability” in Ukraine’s industry

Concerning technological forecasting and innovative policy:

	Formation and introduction of an innovative model of economic development with due regard to the global tendencies and the conditions of Ukraine’s reality
	Investment provision of the innovative activities of corporate entities
	The algorithm of defining the level and dynamics of transaction costs for the assessment at the corporate level and the scientifico-technological and innovative spheres
	Efficiency of the development of knowledge based economy and their adaptation during the research on the formation of knowledge based economy in Ukraine

Concerning the guidelines of sectoral forecasting and market conjuncture:

	Foundations, tendencies and prospects of the development of Ukraine’s sectoral markets
	Institutional provision of the state regulation of the activities of natural monopolies in Ukraine
	Modeling and forecasting Ukraine’s energy balance
	The mechanism of tariffing on heat energy and ways of its improvement

Concerning economics and policy of agrarian transformations and forms and methods of economic management in the agro-food complex:

	Ukraine’s new agrarian policy under changeable challenges of the world economy and risks of the Eurointegrational development
	Possibilities of the adaptation of Ukraine’s economy to the requirements of the EU common Agrarian Policy
	Development and efficiency of the programs of state support of Ukraine’s agrarian sector under the conditions of WTO membership
	Guidelines of the development of human capital as the main endogenous resource of rural development
	State food security
	Methods of improvements of the economic mechanisms of management to attain sustainable rates of the development of agrarian production

Concerning the monitoring of socio-economic transformations and socio-economic problems of labor:

	Harmonizing social policy with market economy with due regard of the peculiarities of socio-cultural determination of economic processes in Ukraine
	The comprehensive structure of the monitoring of socio-economic transformations
	Efficiency of the functioning of Ukraine’s labor market and the ways of its increase
	Assessment of human capital as a component of the national wealth
	Social risks on the labor market, their dynamic assessment and socio-demographic characteristic of the notion of “risk group”

Concerning Ukraine's economic history:

	The concept of the evolution of Ukraine’s economy based on historico-comparative analysis of Ukraine's market and non-market economic development models
	Genesis of the main forms of entrepreneurship and generalities of their evolutional selection
	Specificity of the interaction between market and public finance in Ukrainian economic history
	The contribution by the leading Ukrainian economists in the elaboration of the main components of the economic theory of regulated market

Publishing as one of the Institute’s tasks in its research
and scientifico- organizational activities

During ten years, the Institute has published about 60 monographs and over 20 research papers.

Research on the economic reforms implemented in Ukraine during ten years (1990–2000), justification of strategies and policy of Ukraine’s economic development for a long perspective, detailed and comprehensive analysis of the key challenges, both existing and those which the national economy and society of the XXI century will face, have been described in a series of the Institute’s collective monographs, among which the most important are the following ones:

"“Ukraine’s Economy: Results of the Reforms and Growth Prospects” (in Ukrainian) (2000), “Ukraine’s Economy: Strategy and Policy of Long-Term Development” (in Ukrainian) (2003); and the three-volume “Strategic Challenges of the XXI Century for Ukraine’s Society and Economy” (in Ukrainian) (2007).

The Institute is founder and co-founder of scientific journals “Economics and Forecasting” (2000), “Bulletin of the Institute of Economics and Forecasting” (in Ukrainian) (2000), “Economic Theory” (in Ukrainian and Russian) (2003), “Ukrainian Socium” (in Ukrainian) (2002), as well as selection of research papers “The History and the National Economy and economic Thought of Ukraine” (in Ukrainian) (1965, re-registered in 2008), which are included in the list of qualified scientific publications approved by the High Attestation Commission of Ukraine.

Capacity Building

An important place in the Institute’s activities is occupied by training skilled researchers through post-graduate course and doctorate course.

Post-graduate students are admitted every year from 1 August to 10 September on the following specialties:

08.00.01 – economic theory and history of economic thought;

08.00.03 – economics and management of the national economy;

08.00.07 – demography, labor economics, social economics and policy;

08.00.08 – money, finances and credit;

08.00.11 – mathematical methods, modeling and computer technologies in economics.

Post-graduate course is conducted with or without career interruption.

On graduation, students are awarded certificates of the established form.

The Institute’s researches are actively engaged in teaching future economists in high education institutions, in particular, in Shevchenko Kyiv National University, Vadim Hetman Kyiv National Economic University, National Academy of Management, and International Institute of Management.

The Institute has two specialized scientific councils on awarding Doctor of Sciences and Candidate of Sciences Degrees. Since 2005, theses have been defended on the following specialties: D 26.239.01 – 08.00.01 – economic theory; 08.00.03 – economics and management of the national economy; D 26.239.02 – money, finances and credit; 08.00.11 – mathematical methods, modeling and computer technologies in economics.

Since 2009, the Institute has been preparing Masters on specialty 8.050104 (Finances) (capacity building for research and analytical activities). At the Master Course, subjects are taught by skilled specialists from the National Academy of Sciences, leading universities and public administration bodies, as well as scholars from Germany and Hungary. Theoretical course is combined with practice and probation (for excellent students, probation abroad is possible). On graduation from the Master Course, the best Masters are given character references for entering the Post-Graduate Course at the Institute for Economics and Forecasting and high educational institutions of Kyiv, Kharkiv, Odesa and Donetsk.

Since 2007, the Institute, on the basis of the corresponding license awarded by the Ministry of Education and Science, conducts re-training course on Area 0502 (Management).

In 2007, the Institute put forward an initiative to create Concept of the State Purpose-Oriented Program for Retraining the Workers of Public Administration and Local Government in investment and innovative activities, which was supported by the Cabinet of Ministers of Ukraine.

On the basis of the corresponding Decree by the Presidium of the National Academy of Sciences of Ukraine, the Institute conducts retraining of the specialists of the NAS of Ukraine in innovative and investment activities. Besides research activities and capacity building, the Institute place high emphasis on retraining the personnel of companies and executive authorities, and businessmen.

The Institute places a great emphasis to international ties

During many years, the Institute’s international partners have been the International Institute for Applied Systemic Research (IIASA) (Austria), Institute of Economics, Bulgarian Academy of Sciences, Independent expert group "Consensus Economics Inc." (London, Great Britain), German Institute for Economic Research, Institute of Rational Use of Energy of Stuttgart University (Germany), Lodz University (Poland), Institute of Economic Forecasting (Russian Academy of Sciences), Institute of World Economy (Hungarian Academy of Sciences), Institute of National Economy (Rumanian Academy of Sciences), Institute of Economic Research (Kazakhstan Academy of Sciences), Ministry of Economy, Industry and Finances and University Paris-Nanterre (France).

The forecasts of economic development of individual countries and regions prepared twice a year by the UN LINK Project include middle-term (5-8 years) forecasts for Ukraine made by the Institute’s researchers, and the Development Forecasts of European and Transition Economies prepared by "Consensus Economics Inc." every two months include forecasts for Ukraine for next two years made by the Institute’s researchers.

The Institute has 203 researchers including 50 Doctors of sciences and 109 Candidates of Sciences including Academician of Ukrainian National Academy of Sciences, 5 Corresponding Members of Ukrainian National Academy of Sciences, And 7 members of Ukrainian sectoral academies of sciences.

From its foundation (1997) and until now, the Institute has been headed by Academician of Ukrainian NAS Valeriy HEYETS, a leading economist who has created and is developing a scientific school in macroeconomics (related to the theory and model of economic forecasting) and another one in finances (related to financial security, budget and debt policies, taxation and tax incentives for economic development). He has justified a long-term strategy of Ukraine’s economic development, which is essential for the coordination and harmonization of the targets of sustainable economic growth, institutional reforms, innovation and investment based economic modernization, structural and technological renewal and integration, on that basis, in the world economy. He has put forward a new concept of economic growth under instability and social transformations in order to attain a knowledge based society and economy, which is the major strategic challenge of the XXI century that the independent Ukrainian state has to cope with.

Several researchers of the Institute have been awarded honorable scientific degrees for their considerable contribution to the development of Ukrainian science, creation of national economic schools and consolidation of this country’s scientific and technological potential:

Olga Balakireva – Honorable Scientist of Ukraine (1999);

Oleksandr Baranovskyi – Honorable Economics of Ukraine (2007);

Valeriy Heyets – Honorable Scientist of Ukraine (2000), Winner of the State Prize of Ukraine in Science and Technologies (2002); also, he was awarded the Order of Merits of III degree (2004) and II degree (2008);

Andriy Hrytsenko - Honorable Educational Worker of Ukraine (2008);

Valeriy Holoven’ko - Honorable Worker of People’s Education of Ukraine (1998);

Anatoliy Danylenko - Honorable Economist of Ukraine (1999);

Iryna Kryuchkova - Honorable Economist of Ukraine (2009);

Inna Lunina - Honorable Scientist of Ukraine (2004);

Liubov Moldavan - Honorable Economist of Ukraine (2006);

Victor Tochylin - Honorable Economist of Ukraine (2004);

Volodymyr Khaustov - Honorable Economist of Ukraine (2009);

Volodymyr Yurchyshyn - Honorable Scientist of Ukraine (1993).

Tel +38 044 280-12-34

Fax +38 044 280-88-69

E-mail: gvm@ief.org.ua skr@ief.org.ua

26, Panasa Myrnoho St., Kyiv, 01001, Ukraine