Ukraine liquid biofuel market current state modeling

Keywords: alternative energy, fuel market, econometric model.

Abstract

Development and use of alternative energy in Ukraine is one of the state priority directions. Production and use of liquid bioenergy fuels from energy crops and biomass cultivation for the production of biofuels of various types’ provision are the main priorities for Ukraine. The purpose of the study is to determine the opportunities of Ukraine liquid biofuel market development scenario binary econometric model design. In the article, based on the method of economic and statistical modeling with the use of statistical software environment «R» econometric models of Ukraine liquid bioenergy fuels market formation and functioning have been designed. The objective of the study is to substantiate the possibility of an econometric model and regression analysis in the study of prospects for the development of the liquid biofuel market application. The possibility of usage the alternative energy in Ukraine has been substantiated, as one of the state priority directions. The conducted study on Ukraine bioethanol market development and functioning until 2023 forecast enabled to establish that volumes of corn export and export price for wheat affect the Ukraine bioethanol production scope. It has been substantiated that in the country it is expedient to form the products consumption culture in the context of low-carbon economic development in the face of global climate challenges and taking into account future trends. A multifactor correlation model that is based on the bioethanol market in Ukraine's development and functioning study has been suggested.

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Published
2021-08-25
How to Cite
Chaikin, O., & Melnyk, N. (2021). Ukraine liquid biofuel market current state modeling. Herald of Kyiv Institute of Business and Technology, 47(1), 38-45. https://doi.org/10.37203/kibit.2021.47.01