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SYSTEM APPROACH TO DETERMINING THE RELATIONSHIP OF MONETISATION, CAPITALISATION AND SOCIALISATION OF THE NATIONAL ECONOMY

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Author(s): Yu. Kotova

Journal: Economics of Development
ISSN 1683-1942

Volume: 67;
Issue: 3;
Start page: 27;
Date: 2013;
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Keywords: monetisation | capitalisation | socialisation | expanded reproduction | monetary aggregates | aggregates of capitalisation | aggregates of socialisation

ABSTRACT
The issue of the correlation of monetisation, socialisation and capitalisation processes remains one of the most urgent problems of the modern national economic system. Its relevance is mediated by actual expression of the contradictions in the correlation of economic and social aspects.Thus, the subject of the analysis in this article is the definition of the specificity of interrelation of monetisation, capitalisation, and socialisation of the national economic system.The object of the research is represented by the factors affecting the dynamics of the processes of monetisation, capitalisation, and socialisation in the context of the definition of their determination.The purpose of the study is to structure the processes of monetisation, socialisation and capitalisation of the national economic system by their aggregation. The reproduction of logical and functional economic and mathematical models of determining monetisation, capitalisation, and socialisation processes has been examined.General theoretical research methods are logical and functional sequence of reproduction stages of analysis and synthesis; comparison, abstraction and generalization; induction and deduction; reproduction, almost true abstraction; theoretical and practical unity, universality of ascent from the abstract to the concrete.Specific research methods are represented by commonly accepted econometric techniques of regression analysis of the determined models of the interrelation of the aforementioned processes as well as testing their significance.The article deals with the logic of socioeconomic development within the framework of the determination of extended and restricted reproduction of the processes of monetisation, capitalisation and socialisation. A systematic approach, with the application of basic methodologies of the economic and mathematical modelling is used to discuss the interrelation of the above-mentioned processes of monetisation, capitalisation and socialisation and the conclusion about their determination is drawn. Resulting from this the general type of the synthesized forecasting model of interrelation between the processes of monetisation, capitalisation and socialisation as well as of corresponding specific structures was determined.The general conclusion of the article is the creation of synthesized forecasting model between interrelation of the processes of monetisation, capitalisation and socialisation as well as researching trend dependence of the specific structures of the abovementioned processes, which allowed to draw the conclusion regarding the interrelation of the aforementioned processes, and their overall functional dependence on the time factor (which corresponds to the necessity of inclusion of lag structures in the study of the interrelation).A system of forecasting equations is obtained as the result, where the first corresponds to the influence of specific structures of the processes of capitalisation and socialisation on the dynamics of the process of monetisation, the second is the impact of specific structures of the processes of monetisation and socialisation on the dynamics of the process of capitalisation, and the third – the impact of specific structures of the processes of monetisation and capitalisation on the dynamics of the socialisation process.Econometric testing of the determined model confirmed actual statistical significance of the behavioral equations of the model on its forecasting characteristics.
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