ЕКОНОМІЧНЕ ЗРОСТАННЯ ТА ІНВЕСТИЦІЙНА КОНВЕРГЕНЦІЯ: СУТНІСТЬ ТА АНАЛІЗ ВЗАЄМОДІЇ

Abstract

The article conducts a substantive study and analyzes the relationship between economic growth and investment convergence. It has been established that economic growth and investment convergence are interrelated processes that contribute to sustainable economic development. Economic growth and investment convergence are key components of the development of modern economies. Economic growth determines a steady increase in the volume of production of goods and services in the economy, which contributes to raising the standard of living of the population. Investment convergence, in turn, refers to the convergence of investment levels between different regions or countries, which is important for reducing inequality and promoting balanced economic development. The article examines the main macroeconomic indicators characterizing economic growth: gross domestic product, level of consumer spending, gross accumulation, export of goods and services, import of goods and services. The conducted analysis proves that in 2013 the difference between real and nominal GDP was the smallest and amounted to -3%, and in 2015 the gap between real and nominal GDP was 27.7%. Analyzing the structure of Ukraine's GDP proved that economic growth can be achieved by increasing the quantity and quality of production factors, such as labor, capital and technology. Drivers of economic growth are identified. Investment convergence helps reduce regional disparities and ensures a more even distribution of economic benefits. This, in turn, contributes to stable economic growth, higher living standards and development of human capital. The article analyzes the amount of direct foreign investment in the economy, which allows the implementation of large projects; new technologies and corporate management practices, etc. It was established that the current period of investment convergence in relation to the development of the national economy is characterized by significant fluctuations. Drivers of economic growth based on investment convergence are determined: international investments; integration processes; financial aid and loans. The article proposes the main mechanisms of economic growth interacting with investment convergence. It has been proven that concerted efforts at the level of state policy, institutional reforms, and international cooperation are necessary to achieve the goals of economic growth.