Spivak R. Structural interaction between real estate market and foreign trade of Ukraine.

The dissertation investigates the place and the role of the real estate market in the world economy, its features, specific and properties. It contains the evaluation of the dynamics of real estate markets of individual countries. A detailed analysis of the real estate market of Ukraine for the past 20 years is implemented; the main stages of development and the factors that influence on the market are assessed and resolved. In addition, the dissertation considers the impact of the real estate market features on the gross domestic product and foreign trade of the country, the factors that influence market trends at the global and local levels, and the relationship of the real estate market with financial market. The existing model of the impact of real estate market on foreign trade identified its strengths, weaknesses and peculiarities of application in the modern world. Using econometric models allows evaluating the impact of real estate investment on the development of foreign trade in construction goods and giving a qualitative assessment of the interdependence between the development of the real estate market and the dynamics of trade in goods directly related to the real estate market. The dissertation includes the review of world market of construction materials, the major market category, analysis its development over the past 10-15 years. The main players of the market, as well as changes in commodity and geographical structure of the market are provided. For basic commodity heading Herfindahl–Hirschman index of market concentration has been calculated. In-depth analysis of commodity and geographical structure of exports and imports of major items of goods directly related to the real estate market in Ukraine over the last 10 years has been executed, Hrubellya–Lloyd index has been calculated, which indicates a fairly low level of intra-industry trade in Ukraine. A gradual change in average prices for export and import products of the goods directly related to the real estate market and the causes of these changes have been revealed. Analysis of foreign trade of goods directly related to the real estate market allows defining the terms of trade of Ukraine in the field of goods directly related to the real estate market, gains and losses due to price dynamics of sectorial exports and imports and the cumulative economic effect of foreign trade in goods directly related to the real estate market.