FINANCIAL SECURITY OF POST-WAR RECONSTRUCTION AND RECOVERY OF THE ECONOMY: THEORETICAL BASIS
DOI:
https://doi.org/10.31470/2786-6246-2023-5-60-76Keywords:
post-war reconstruction, reconstruction financing, economy of Ukraine, macroeconomic factors, fiscal policy, reconstruction strategies, financing efficiencyAbstract
The proposed article focuses on an important topic – the financing of post-war reconstruction and recovery of the economy of Ukraine, which has become particularly relevant in connection with the devastating consequences of military actions and the need for rapid recovery of the country. The purpose of the study is to analyze the available theoretical approaches and financing models, assess the current state of Ukraine’s financial resources, study the impact of macroeconomic factors on financing processes, and develop recommendations for optimizing financial mechanisms.
The methodology of this study is based on an integrated approach that includes the analysis of scientific literature, quantitative methods and comparative analysis. Analysis of current data, including statistics, and international studies helps identify key trends and challenges facing Ukraine in the recovery process.
The scientific value of the work lies in the comprehensive approach to the analysis of the financing of post-war reconstruction, which includes the study of international experience, the assessment of internal and external sources of financing, as well as the analysis of macroeconomic factors. The novelty of the research lies in the application of these approaches to the Ukrainian context, which allows identifying specific challenges and opportunities for Ukraine.
The research used a variety of methods, including literature review, statistical evaluation, benchmarking, and information synthesis. The main results include the identification of key aspects of recovery financing, the evaluation of the effectiveness of the use of financial resources and the development of recommendations for the optimization of financial strategies.
The findings highlight the need for a flexible approach to financing recovery, the importance of managing macroeconomic factors, and the need for further research to expand understanding of this issue. The recommendations put forward in the article can serve as a basis for the development of effective strategies for the recovery and reconstruction of the economy of Ukraine.
References
Addison, T., Geda, A., Le Billon, P., Murshed, S.M. (2001). Financial Reconstruction in Conflict and Post-Conflict Economies. Econstor. Retrieved from: https://www.econstor.eu/bitstream/10419/53103/1/33513288X.pdf [in English].
Akymenko, O., Marchenko, N., & Shakhovnina, N. (2023). Management of Financial Relations in the Conditions of Post-War Reconstruction of Ukraine. Economic Affairs. New Delhi. Vol. 68, Iss. 1s, (Feb 2023), 143-151 [in English].
Akymenko O., Marchenko N., Shakhovnina N., Haryha-Hrykhno M., Grivko, S. & Kotelenets A. (2023). Management of Financial and Economic Relations in the Conditions of Post-war Reconstruction of Ukraine. Economic Affairs, 68(1s), 143-151. DOI: 10.46852/0424-2513.1s.2023.17. [in English].
Alieksieienko, I., Koltun, V., Grynchuk, N., Vakulenko, V., & Kohut, O. (2023). Sustainable Development of Territories during the Period of Post-War Environmental Restoration. Wseas Transactions on Environment and Development, May 2023. DOI: 10.37394/232015.2023.19.31. [in English].
Amosha, O.I., & Amosha, О.О. (2023). On the formula of the strategy of post-war economic restructuring. Economy of Industry. 101(1), 68-78. Retrieved from: http://ojs.econindustry.org/index.php/ep/article/view/271/328 [in Ukrainian].
Arriola, C., Cadestin, C., Kowalski, P., Guilhoto, J.J.M., Miroudot, S., & van Tongeren, F. (2023). Challenges to international trade and the global economy: Recovery from COVID-19 and Russia’s war of aggression against Ukraine. DOI: https://doi.org/10.1787/5c561274-en [in English].
Boyce, J.K. (2011). Post-Conflict: Resource Mobilization and Economic Recovery. In State-building and Development in Post. Retrieved from: https://www.un.org/en/development/desa/policy/wess/wess_bg_papers/bp_wess2008_boyce.pdf [in English].
Brück, T., FitzGerald, E.V., & Grigsby, A. (2000). Enhancing the Private Sector Contribution to Post-War Recovery in Poor Countries: Comparative Analysis. SSRN Electronic Journal. Retrieved from: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=238882 [in English].
Chepeliev, M., Diachuk, O., Podolets, R., & Semeniuk, A. (2023). Can Ukraine go “green” on the post-war recovery path? Joule. 7(4), 606-611. DOI: https://doi.org/10.1016/j.joule.2023.02.007 [in English].
Del Castillo, G. (2008). Rebuilding War-Torn States: The Challenge of Post-Conflict Economic Reconstruction. RePEc. DOI: 10.1093/acprof:oso/9780199237739.001.0001 [in English].
Dibrova, A., Ilchuk, M., Konoval, I., Androsovych, I., & Zanizdra, A. (2023). State support for agriculture in Ukraine in the post-war period. Agricultural and Resource Economics: International Scientific E-Journal. 9(3), 49-76. DOI: https://doi.org/10.51599/are.2023.09.03 [in English].
Gernego, I., Dyba, M.I., Shkoda, T., & Dyba, M.V. (2023). Venture Financing as Support for the Sustainable Model of Post-War Rebuilding in Ukraine. European Journal of Sustainable Development. 12(2), 1-1. DOI: https://doi.org/10.14207/ejsd.2023.v12n2p1 [in English].
Kicaj, H., Polukarov, Y., Prakhovnik, N., Polukarov, O., & Kachynska, N. (2023). How war in Ukraine is affecting the climate. International Journal of Environmental Studies, 80(2), 277-283. DOI:10.1080/00207233.2023.2174743 [in English].
Kindzerskyi, Y. (2023). Possibilities of applying the concept of an entrepreneurial state to ensure structural and innovative transformations during the post-war recovery of Ukraine’s economy. Ekonomichnyy analiz, 33(1), 37-45. DOI: http://dx.doi.org/10.35774/econa2023.01.037 [in English].
Kocherov, M., Dzhyhora, O., & Dykha, M. (2023). Mechanisms of Post War Economic Recovery in Ukraine: The Role of the International Community. Economic. Economic Affairs. New Delhi. Vol. 68, Iss. 2. 1311-1321. DOI: 10.46852/0424-2513.2.2023.35 [in English].
Kushnirenko, О., & Gakhovich, N. (2023). Strategic directions of Ukrainian engineering post-war recovery. University Economic Bulletin. (56), 05-15. DOI: https://doi.org/10.31470/2306-546X-2023-56-05-15 [in Ukrainian].
Lemishko, О., Davydenko, N., & Shevchenko, A. (2022). Strategic directions of the economic recovery of post-war Ukraine. Journal of Innovations and Sustainability, 6(2), 09. DOI: https://doi.org/10.51599/is.2022.06.02.09 [in English].
Levytska, I., Klymchuk, A., Shestakova, A., & Biletska, N. (2023). Tourist Potential of Ukraine: Challenges and Prospects of the Post-War Time. Journal of Environmental Management & Tourism, 14(2), 299-305. DOI: https://doi.org/10.14505/jemt.v14.2(66).01 [in English].
Lieftinck, P. (2012). The Post-War Financial Rehabilitation of the Netherlands. Springer [in English].
Lytvynenko, A.V. (2023). Problems of post-war economic recovery. Aviatsiia, promyslovist, suspilstvo : materialy IV Mizhnar. nauk.-prakt. konf. (m. Kremenchuk, 18 trav. 2023 r.) – Aviation, industry, society: materials of IV International. science and practice conf. (Kremenchuk, May 18, 2023). 794-796 Retrieved from: https://klk.univd.edu.ua/files/articles/297/zbirnik_materialiv_klk_hnuvs_2_2023.pdf [in Ukrainian].
Martynovych, N., Yemchenko, I., & Kulinich, T. (2023). From the Territory of Recovery to Sustainable Development: a Methodological Concept of Effective Socio-economic Development of Ukraine after the War Development. Problemy Ekorozwoju/Problems of Sustainable Development, 18(2), 13-25. DOI: https://doi.org/10.35784/preko.3923. [in English].
Matviienko-Biliaieva, G., Krasnorutskyy, O., Salionovych, L., Serhii, V., & Larina, T. (2023). The Importance Of Digitization In The Post-War Recovery Of The Economy. Collection Of Papers New Economy. 42-55 [in English].
Oleshko, A., Novikov, D., & Petrivskyi, O. (2023). Business Corporate Social Responsibility In The Economic Recovery Of Ukraine. Baltic Journal of Economic Studies, 9(3), 162-166. DOI: https://doi.org/10.30525/2256-0742/2023-9-3-162-166 [in English].
Pidorycheva, I., & Liashenko, V. (2023). Structural deformations in the entrepreneurial sector and overcoming them: context of Ukrainian economic recovery. Journal of European Economy, 22(2), 287-311. DOI: https://doi.org/10.35774/jee2023.02.287 [in English].
Prontera, A. (2023). Winter is coming: Russian gas, Italy and the post-war European politics of energy security. West European Politics. 1-26. DOI:10.1080/01402382.2023.2225987 [in English].
Prykaziuk, N., Lobova, O., Motashk, T., Prokofieva, O., & Yukhumenko, V. (2023). Prospects of the Post-War Recovery of the Financial Sector Of Ukraine. Financial & Credit Activity: Problems of Theory & Practice. 4(51). DOI: https://doi.org/10.55643/fcaptp.4.51.2023.4051 [in English].
Rieznyk, O., Treus, A., & Kozmenko, S. (2023). Priorities of impact investing in environmental protection projects: the case of the future post-war reconstruction of Ukraine. Business: Theory and Practice, 24(2), 459-472. DOI:10.3846/btp.2023.18020 [in English].
Rudner, M. (2008). Financial Policies in Post-War Malaya: The Fiscal and Monetary Measures of Liberation and Recovery (1975). The Journal of Imperial and Commonwealth History. DOI: https://doi.org/10.1080/03086537508582436 [in English].
Shvedun, V., Bulba, V., Bozhko, L., Kucher, L., Kholodok, V., & Ihnatiev, O. (2023). Circular economy in Ukraine on the way to European integration: directions for sustainable management during the war and post-war recovery. Journal of Environmental Management & Tourism, 14(1), 194-206. DOI: https://doi.org/10.14505/jemt.v14.1(65).19 [in English].
Siegmann, Arjen and Volkova, Oksana. (2023). Potential for Fiscal Policy Reforms in Post-War Ukraine. SSRN. DOI: http://dx.doi.org/10.2139/ssrn.4396506 [in English].
Svydruk, I. (2023). Problems and possibilities of recovery domestic market of Ukraine. In Dezvoltare economică și cercetare. 158-160. Retrieved from: https://ibn.idsi.md/vizualizare_articol/187924 [in English].
Trushkina, N. (2023). Priorities of Post-War Modernization and Recovery of the National Economy: the South Korea Experience. Collection of scientific papers «ΛΌГOΣ». Seoul, South Korea. 31-35. DOI 10.36074/logos-28.04.2023.08 [in English].
Zhytar M.O. (2020). Finansova arkhitektura ekonomiky Ukrainy v umovakh hlobalnykh transformatsii: monohrafiia. Financial architecture of the economy of Ukraine in conditions of global transformations: monograph. Chernihiv: NTU. 352. Retrieved from: https://japfd.donnu.edu.ua/article/view/13815 [in Ukrainian].
Zvarych, R., Rivilis, I., Domiter, M., Skulski, P., Oleksiiv, M., & Janiga, M. (2023). Information Support for Postwar Economy Recovery of Ukraine. In 2023 13th International Conference on Advanced Computer Information Technologies (ACIT), 235-240. DOI: 10.1109/ACIT58437.2023.10275360 [in Ukrainian].
Kaziuka N.P. & Sheketa Ye.Iu. (2022). Napriamy ta rezervy povoiennoho vidnovlennia ekonomiky Ukrainy [Directions and reserves of the post-war economic recovery of Ukraine]. Aktualni problemy rozvytku ekonomiky rehionu – The actual problems of regional economy development, 2(18), 255-264 DOI: 10.15330/apred.2.18.255-264 [in Ukrainian].
Nosyriev, O., Dedilova, T., & Tokar, I. (2022). Rozvytok turyzmu ta industrii hostynnosti v stratehii postkonfliktnoho vidnovlennia ekonomiky Ukrainy [Development of tourism and the hospitality industry in the strategy of post-conflict economic recovery of Ukraine]. Elektronne naukove fakhove vydannia «Sotsialno-ekonomichni problemy i derzhava» – Electronic scientific publication "Socio-economic problems and the state". 1 (26), 55-68. DOI: 10.32702/2307-2105-2022.5.9 [in Ukrainian].
Oleshko, A.A., Shatska, Z.Ia., & Rovniahin, O.V. (2022). Smart-spetsializatsiia Ukrainy v perspektyvi pisliavoiennoho vidnovlennia ekonomiky [Smart specialization of Ukraine in the perspective of post-war economic recovery]. Efektyvna ekonomika – Efficient economy, 5. DOI: 10.32702/2307-2105-2022.5.9 [in Ukrainian].
Skrypnychenko, M. (2022). Makroekonomichni otsinky ta prohnozy povoiennoho vidnovlennia ekonomiky Ukrainy [Macroeconomic assessments and forecasts of the post-war recovery of Ukraine’s economy]. Ekonomichna teoriia – Economic theory. DOI: https://doi.org/10.15407/etet2022.02.029 [in Ukrainian].
Khmarska, I., Kucheriava, K., & Klimova, I. (2022). Osoblyvosti pisliavoiennoho vidnovlennia ekonomiky Ukrainy [Peculiarities of the post-war economic recovery of Ukraine]. Ekonomika ta suspilstvo – Economy and society, 42. DOI: https://doi.org/10.32782/2524-0072/2022-42-31 [in Ukrainian].
