CHALLENGES AND OPPORTUNITIES FOR RESILIENT ECONOMIC DEVELOPMENT OF UKRAINE IN THE CONTEXT OF GLOBAL TRANSITION
DOI:
https://doi.org/10.15407/economyukr.2024.01.003Keywords:
resilient economic development; global transition; global transformations; global risks (threats); economic securityAbstract
The author shows that the essence (deep basis) of changes in the modern world is formed by the process of transition to a qualitatively new global system, caused by a complex combination and interaction of a number of powerful factors of natural, technological, and socio-political nature. This transition is irreversible and will take place over a relatively long (two to three decades) time, creating considerable uncertainties, risks, and threats to development. This significantly increases the importance of the resilience parameters of socio-economic systems.
The global transition process has an extremely complex nature and causes a rethinking of methodological approaches to the formation of policies and strategies for economic development. The understanding of the process of change as non-linear in nature and involving a complex combination of the processes of destruction and creation becomes an extremely important principle. The process of global transition is accompanied by significant changes in the balance of power, restructuring of global and macro-regional production chains and markets, tangible shifts in the structures of the economy based on new technologies and principles of efficient spatial location of production.
Global challenges, risks, and threats will have significant but specific impact on the economic development of Ukraine in the post-war period, which will require the use of not only globally coordinated, but also endogenously generated response measures. The possible worsening of droughts, the archaic structure of inclusion in international exchange, the real prospects of loss or significant reduction of transit potential through the East-West line, insufficient development of own scientific and technological potential, and emigration of highly qualified personnel deserve special attention.
The existing principles of creating economic development strategies in Ukraine are ineffective, outdated and have to be significantly adjusted. They should be based on the active formation of a favorable ecosystem and development support institutions, the principles of multi-level management, significant improvement of the openness of state management processes for interaction with non-state stakeholders.
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