The paper deals with the analysis of methodology of Environmental Performance Index. The authors analyzed and systematized the main existing integrated indices, which were used for evaluation of environmental, social and economic situation in the countries. The authors allocated the environmental performance index as a basis for analyzing the environmental policy of the country. In this direction, the authors analysed the main features, structure and indicators of environmental performance index. The authors allocated the world-leader countries with huge level of CO2 emissions. According to the results, the authors aproved that these countries should improve their environmental policy. Accordingly, they occupied less position in environmental performance index. For the purpose to analyze the relation between ecological, social and economic welfare, the authors analyzed score of sustainable development goal index, social progress index and gross domestic product per capita. The comparison analysis of findings showed that countries with good position on environmental performance index have the strong position on sustainable development goal index and social progress index. The authors suggested that Ukraine should orient to the EU countries with purpose to improve the environmental policy.

The main purpose of the study is the role and effect of fiscal decentralization on macroeconomic stability on key measures that represent different and independent indicators of the degree of fiscal decentralization. It is proposed to use the fiscal decentralization as an indicator of expenditure decentralization, which is calculated as the ratio of subnational to total government expenditure, income decentralization as the ratio of subnational own source revenue to total government revenue. Along with the indicators of fiscal decentralization, it is proposed to take into account the potential economic, political and institutional determinants of macroeconomic stability that can be classified into the following groups: growth and development; indicators of the labor market; openness of the economy; monetary indicators; independence of the central bank; political system; corruption. The application of the proposed determinants has shown a non-linear relationship between fiscal decentralization and macroeconomic stability.

The main objective of the paper is to study the role and power of the influence of social factors on macroeconomic stability. The integral indicator of human capital is suggested that allows to consider social factors that need urgent attention from the position of a potential source of increasing macroeconomic stability in the context of the future of the European vector of development of Ukraine. A block diagram is proposed for estimating the integral index of human capital, which consists of five main stages. The results of the work testify to the presence of a positive and statistically significant connection at the level of 5% between social factors and macroeconomic stability of Ukraine in the period 2000-2015. Along with social factors, the openness of the economy and the volume of foreign direct investment are used to increase the accuracy of the model describing the dynamics of macroeconomic stability.