An economic model to assess the effectiveness of economic cooperation between Ukraine and international non-government organization

Abstract

This study aims to develop an econometric model for assessing the effectiveness of economic international cooperation between Ukraine and international non-governmental organizations. Based on the cognitive modeling method, the key indicators of the model influencing the socio-economic development of Ukraine were determined. With the cognitive map’s help, qualitative characteristics have been identified and argued regarding links between the socio-economic indicators of the country’s development and the amount of funding attracted from foreign non-governmental organizations. The direction of influence between the indicators of socio-economic development and the volume of investment was determined using economic laws and expert assessments with the involvement of 35 professional experts. The scenario analysis made it possible to analyze the changes in the country’s socio-economic development due to changes in the size and structure of investment funds received from international non-governmental organizations. It has been established that international non-governmental organizations’ participation in ensuring the socio-economic development of Ukraine can have both positive and negative effects. The results obtained can be useful for local governments and business entities when developing an effective strategy for interaction with international organizations and constant monitoring of the effectiveness of the use of investment funds.