Yefimenko Аlina, PhD, specialist of the 1st category of the Scientific and Educational Center of Business Analytics, Sumy State University, Sumy, Ukraine

ORCID ID: 0000-0002-2810-0965
e-mail: a.yefimenko@uabs.sumdu.edu.ua

Neiman Ievgen, individual entrepreneur, Kyiv, Ukraine

ORCID ID: 0009-0008-5491-3346
e-mail: evg_sqrt@ukr.net

Evaluation of Macroeconomic Stability Indicators: the European Experience

Abstract. Introduction. Macroeconomic stability serves as a key factor for sustainable economic development, investment attractiveness, and the social well-being of a country.

Purpose. The purpose of this study is to assess indicators of macroeconomic stability in European countries, which are valuable for governments and other stakeholders in making informed decisions, forecasting future trends, and responding effectively to external challenges.

Results. The information and analysis base consists of statistical data from 34 European countries for the period 2010 to 2022. The calculations are based on the World Bank’s input indicators using StataSE 18 software. The research uses the following indicators of macroeconomic stability in the calculations: gross domestic product (GDP), inflation rate, unemployment rate, Gini index, and gross national income (GNI) growth. During the study the methods of comparison and generalization are used to analyze the key indicators of the macroeconomic environment, time series analysis and the calculation of descriptive statistics are used to determine the most variable indicators. Based on the constructed graphs, article identifies that Luxembourg and Norway lead in terms of GDP volume from 2010 to 2022, while Switzerland, Sweden, Norway and Finland have low levels of inflation and unemployment and a favorable Gini index. Iceland has the highest GNI growth rate. Conversely, despite the implementation of stabilization measures, we find low GDP volumes in Ukraine, Serbia, and Moldova, the highest inflation rates in Ukraine, the highest unemployment rates in Spain, Serbia, and Ukraine, and the highest Gini index values in Bulgaria and Serbia. According to the obtained descriptive statistics, GDP volume is the most variable indicator, which is confirmed by its minimum and maximum values.

Conclusion. The results of the assessment of macroeconomic stability indicators are extremely relevant and important for governments and other stakeholders in making informed decisions, forecasting future trends, and effectively responding to external challenges.

Keywords: macroeconomic stability; GDP; inflation; unemployment; Gini index; corruption.

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