USE OF ECONOMIC GROWTH MODELS TO JUSTIFY THE SUSTAINABLE DEVELOPMENT OF ENTERPRISES OF THE MARITIME ECONOMIC COMPLEX

Abstract

Introduction. It is argued that R. Solow's model of factor analysis of sources of economic development should be recognized as the basic, most optimal model for modeling the development of problem regions of Ukraine in the conditions of post-crisis recovery. Purpose. This article examines the analysis of the enterprise's investment activity through the prism of economic growth models using the example of the development of the state-owned enterprise "Southern Trade Port". To accomplish this task, the Cobb-Douglas production function is used. Results. The special value of this model is that it takes into account the impact on the volume of production not only of factors of labor and capital, but also changes in the savings rate, population growth and technological progress. The conditions of neutral technical progress according to Higgs, Harrod and Solow, modifications of the production function of Cobb Douglas in different cases are considered. On the basis of the Cobb-Douglas function, calculated for the SE "STP Pivdenny", the conditions of sustainable development of the enterprise are considered. The coefficient of neutral scientific and technical progress, the equilibrium rate of capital investments аre analyzed. Based on the Cobb-Douglas function elasticity coefficients, the actual and equilibrium capital investment rate are also calculated. The average value of the equilibrium rate for the considered period is slightly higher than the average actual rate of capital investments of the port. The marginal analysis of the growth factors of net income showed that the capital return does not change during the considered period and was equal to the marginal productivity of the main productive assets, while the average and marginal labor productivity fluctuate and take different values by the years. This shows that the development of the State Enterprise "STP Pivdenny" has the features of technical progress according to Harrod. Conclusions. The possibility of sustainable development of SE "STP Pivdenny" is being considered under the conditions of compliance with the established equilibrium rate of capital investments in its development.