Evaluation of the scale efficiency of investment activity in the regions of Ukraine

In this article, thee input and output oriented DEA models for estimating the efficiency of investment activity in the regions of Ukraine were constructed. As input variables, capital investment and direct foreign investment were taken, while in the role of output variables we took gross regional product, employment rate and exports of goods per capita. The analysis showed that most of the Ukrainian regions functioned in terms of decreasing return on a scale (DRS) during 2015, 2016 and 2017. This means that further expansion of the scale of their operations, that is, an increase of investments, will result in a decrease in the efficiency of investment activity in such regions

investment efficiency; scale efficiency; DEA; declining returns to scale; increasing returns on scale; direct foreign investment; capital investments