Growth itself does not create value. Economic value is created by investment in excess return compared to its cost. This statement is one of the central in microeconomic theory and drives the development of a single firm through an industry to a country‟s economy. Principle of economic value added to invested capital is directly employed in Economic Value Added (EVA) indicator. In this article we make the first attempt to calculate EVA for Belarus at the industry level using aggregate indicators according to the common methodology. In our case primary data such as net economic profit, investment and cost of capital are aggregates for each sector defined in internationally comparable Industrial Classification System only recently built in Belarus.
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