ECONOMETRIC MODELLING OF CORPORATE BOND MARKET CAPACITY IN UKRAINE
The aim of this article is to examine macroeconomic factors which influence corporate bond market development in Ukraine. Thus, the basic focus is on factors that are external in relation to the corporate bond market. An econometric model shows the correlation of the corporate bond market size in Ukraine with a set of chosen macroeconomic determinants. We arrived at the conclusion that the volume of corporate bond issuance is significantly correlated with increases in GDP and foreign investment. Factors such as an increase in interest rates by the National Bank of Ukraine, deposits and long-term credits have a negative impact on the size of the corporate bond market.
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Keywords: capital market, corporate bond, financing of enterprises, estimation, macroeconomic determinants, econometric model, regression analysis, corporate bond market capacity |
FINANCIAL INSTRUMENTS
Vasylieva Dariia
postgraduate SHEI «Kyiv National Economic University named after Vadym Hetman»
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