Cobb–Douglas function as a tool for assessing the efficiency of Ukraine’s manufacturing industry in the conditions of economic challenges

Abstract

Based on the static data of the State Statistics Committee of Ukraine for 2010–2023, a comparative analysis of the Cobb–Douglas function and the multivariate linear regression model was conducted on a single information base and according to common quality criteria. It was shown that the transition to the log-linear form of the Cobb–Douglas function provides convenience of calculations, and the function itself has a clear economic interpretation. A forecast was also made for the period 2024–2027. The multivariate linear regression model turned out to be more sensitive to the influence of the time factor.