Outcome of capital investment on labor productivity in agriculture sector of Ukraine

Authors

  • Dr. Viktoriya Onegina Kharkiv Petro Vasylenko National Technical University of Agriculture
  • Dr. Nikolay Megits Webster University https://orcid.org/0000-0002-3959-7647
  • Dr. Vitalina Antoshchenkova Kharkiv Petro Vasylenko National Technical University of Agriculture
  • Dr. Oleksandr Boblovskyi Kharkiv Petro Vasylenko National Technical University of Agriculture

DOI:

https://doi.org/10.15549/jeecar.v7i1.355

Keywords:

productivity of labor, agriculture, investment, fixed capital, employee, economic growth.

Abstract

Ukraine's agricultural sector accounts for 17% of the country's GDP and is continuously growing. For six consecutive years (2013-2018), Ukraine harvested over 60 million tons of grain annually, and 2018 export of ag commodities reached $18.6 billion. (State, 2020).  The anticipated land reform envisions lifting the moratorium on the agricultural land sale, which should encourage capital investments in ag.  The article analyzes the trends of investment opportunities in the Ukrainian ag sector for the last decade. The regression analysis of labor productivity with variables of fixed capital-worker ratio and yield of grain confirmed that the function of labor productivity depended on the value of fixed capital per worker.  As the U.S. investment in ag machinery export to Ukraine plays a significant role, we evaluated its effect on the current level of labor productivity in the Ukrainian agribusiness, comparing it with the U.S. farming outcome.

Author Biographies

Dr. Viktoriya Onegina, Kharkiv Petro Vasylenko National Technical University of Agriculture

Dr. Viktoriya Onegina holds a Ph.D. in Economics, Professor, Head of Economics, and Marketing Department of Kharkiv Petro Vasylenko National Technical University of Agriculture (Kharkiv, Ukraine). Her experience of teaching, scientific research in the Higher Education System is more than 20 years. The author more than 200 scientific papers, seven textbooks, seven monographs. Scientific interests are focused on agricultural policy, fiscal policy, innovation, and investment management. She is a member of the editorial board of 3 scientific journals, a participant of the International Education and Research Exchange Programs (Faculty Exchange Program of USDA: Fulbright Scholar Program), many International Scientific Conferences. She was awarded by «Gratitude Letters» from Ministry of Education and Science of Ukraine, Ministry of Agricultural Policy and Food of Ukraine.

Dr. Nikolay Megits, Webster University

Dr. Nikolay Megits is a Professor of Economics at the School of Business and Technology of Webster University, St. Louis, MO. He is an expert in global economics, strategic management, FDI in emerging markets, and entrepreneurship, with a distinguished record of academic achievement in lecturing and scholarly research. He possesses over 25 years of international business experience, including strategic planning, sales, and import/export practices. He holds an MBA and a Doctorate in Economics. Dr. Megits is an Academic of the Ukrainian Academy of Economic Sciences.

Dr. Vitalina Antoshchenkova, Kharkiv Petro Vasylenko National Technical University of Agriculture

Dr. Vitalina Antoshchenkova holds the Ph.D. in Economics, Associate Professor of Economics and Marketing Department of the Kharkiv Petro Vasylenko National Technical University of Agriculture. The author of 65 scientific papers, including five monographs and two textbooks. He has experience of teaching and scientific research in the system of higher education for more than 10 years, developed the curriculum and courses for distance education, participated in the many International scientific conferences; she is an excellent consultant students’ scientific activities. The area of her scientific research is concentrated on the pricing and efficiency of dairy production, the competitiveness of dairy products.

 

Dr. Oleksandr Boblovskyi, Kharkiv Petro Vasylenko National Technical University of Agriculture

Dr. Olexandr Boblovskyi, is the Associate Professor at the Department of Organization of Production, Business and Management of the Kharkiv Petro Vasylenko National Technical University of Agriculture. His scientific interests include resource-saving technologies for growing crops, intercultural interaction in the conditions of globalization, green tourism, business planning. More than 90 scientific papers have been published in scientific journals of the Kharkiv Petro Vasylenko National Technical University of Agriculture, National Agrarian University, Lviv National Agrarian University, Kharkiv V. Karazin National University Tavrida State Agritechnological University, and in the International journal Espacios, which is indexed in Scopus.

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Published

2020-03-14

How to Cite

Onegina, V., Megits, N. ., Antoshchenkova, V., & Boblovskyi, O. (2020). Outcome of capital investment on labor productivity in agriculture sector of Ukraine. Journal of Eastern European and Central Asian Research (JEECAR), 7(1), 12–25. https://doi.org/10.15549/jeecar.v7i1.355

Issue

Vol. 7 No. 1 (2020): Journal of Eastern European and Central Asian Research

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