Critical strategies for enhancing Ukraine's financial security in wartime and postwar conditions

Serhii Shtantsel; Iryna Zaichko; Svitlana Korzun; Nataliia Shchur; Oleksandr Hubskyi

doi:10.31893/multirev.2024spe066

Keywords:

Abstract

The recovery of Ukraine will be a lengthy and expensive process, necessitating the involvement of a coordinated international effort. The recovery process, which is partially defined by the country's EU accession programme, will entail not only the physical reconstruction of Ukraine but also the reintegration of Ukrainian society. These included theoretical approaches such as analysis, synthesis, theoretical modelling, and the generalisation of materials presented in the scientific literature and specialised archives on the subject under investigation. Additionally, empirical methods were utilised, including statistical and interpretive techniques (such as analysis, synthesis, and systematisation of the data obtained). A comprehensive search of 16 databases and search engines was conducted. The following databases were consulted: CINAHL, ClinicalTrials.gov, Cochrane Library, EbscoHost, Embase, ERIC, Google Scholar, LILACS, ProQuest, PsycINFO, PubMed, ScienceDirect, Scopus, SportDiscus, TRID and Web of Science. On the basis of experience, particularly in the Balkans since the 1990s, the OSCE can make a significant contribution to Ukraine's recovery by providing assistance to the country's institutions in navigating the complexities of reintegration and EU accession. The necessity of such adaptation is underscored by the apparent demand in Ukrainian society, which has been subjected to Russia's full-scale military aggression that commenced on 24 February 2022 for stable postwar financial security. To maintain an optimal balance between the military and economic foundations of national security at a level that guarantees the reliable protection of the state's vital interests and ensures the resilience of the national economy in the face of Russia's economic and military aggression, Ukraine must prioritise the assurance of military-economic security. The economic interests of Ukraine, which is undergoing postcrisis recovery, are outlined. The content and specifics of the principal EU policy approaches aimed at enhancing Ukraine's economic security parameters to achieve the EU's three core objectives until 2030 are set forth.
References
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How to cite

Shtantsel, S., Zaichko, I., Korzun, S., Shchur, N., & Hubskyi, O. (2024). Critical strategies for enhancing Ukraine’s financial security in wartime and postwar conditions. Multidisciplinary Reviews, 8, 2024spe066. https://doi.org/10.31893/multirev.2024spe066

[1] Borzenko, O. O. (Ed.). (2021). Assessment of Ukraine's integration into the European economic space. Institute for Economics and Forecasting, NAS of Ukraine. http://ief.org.ua/wp-content/uploads/2022/05/OcinkaintegraciiUkrainydoEEP.pdf Accessed on October 19, 2024.

[2] Commission Opinion on Ukraine’s Application for Membership of the European Union, COM (2022) 407. Brussels, 17.06.2022. P. 1. European Union. https://neighbourhood-enlargement.ec.europa.eu. Accessed on October 19, 2024.

[3] Dyak, S. (2023). From War into the Future: Historical Legacies and Questions for Postwar Reconstruction in Ukraine. Architectural Histories, 11(1), 1–11. https://doi.org/10.16995/ah.9805

[4] Heyets, V. M., Blyznyuk, V. V., & Nikyforuk, O. I. (2022a). Actual aspects of the policy of social quality in the post-conflict economy of Ukraine. Economy of Ukraine, 6, 3-22. https://doi.org/10.15407/economyukr.2022.06.003

[5] Heyets, V., Blyzniuk, V., & Nykyforuk, O. (2022b). The Recovery of Ukraine: Social Quality in the Postwar Societal Space. International Journal of Social Quality, 12(1), 1–28. https://doi.org/10.3167/IJSQ.2022.120102

[6] Kryshtal, H. O. (2023). The Role of Logistics in the Development of Agriculture of Ukraine in the War Conditions. Science and Innovation, 19(2), 73-82. https://doi.org/10.15407/scine19.02.073

[7] Kumar Manoj Jhariya, Meena Ram Swaroop, Banerjee Arnab (2021). Ecological Intensification of Natural Resources for Sustainable Agriculture. Springer Nature Singapore Pte Ltd., 489 p. https://doi.org/10.1007/978-981-33-4203-3

[8] Kvasnii, L., Moravska, O., Malyk, L., Shulzhyk, Y., Orlova, O., & Scherban, O. (2023). Scenarios of the Development of Enterprises of the Tourist Industry of Ukraine in the Conditions of the War and Post-War Period. Financial and Credit Activity: Problems of Theory and Practice, 2(49), 313-325. https://doi.org/10.55643/fcaptp.2.49.2023.3999

[9] Lopatynskyi, Y., Belei, S., Kapelista, I., & Pavlyshyn, M. (2023). The Effectiveness of the Management System in the Conditions of War and its Influence on the Development of Agribusiness. Review of Economics and Finance, 21, 932-940. https://refpress.org/ref-vol21-a102/ Accessed on October 19, 2024.

[10] Mastrorocco, R. (2020). OSCE and Civil Society in the Western Balkans: The Road to Reconciliation. Transformation and Development / Mihr (ed.). Cham: Springer Nature, pp. 83-100. https://doi.org/10.1007/978-3-030-42775-7_6

[11] Merlingen, M., & Ostrauskaitė, R. (2003). The International Socialization of Post-Socialist Countries: The Role of the OSCE and the Council of Europe. OSCE Yearbook IFSH (ed), pp. 365-379. Baden-Baden: Nomos, 2004. https://ifsh.de/file-CORE/documents/yearbook/english/03/Merlingen_Ostrauskaite.pdf Accessed on October 19, 2024.

[12] Moldavan, L., & Pimenova, O. (2021). “Holdingization” of the agricultural sector of Ukraine: consequences and ways of their prevention. Management Theory and Studies for Rural Business and Infrastructure Development, 43, 217–224. https://doi.org/10.15544/mts.2021.18

[13] Moldavan, L., Pimenowa, O., Wasilewski, M., & Wasilewska, N. (2023). Sustainable Development of Agriculture of Ukraine in the Context of Climate Change. Sustainability, 15, 10517. https://doi.org/10.3390/su151310517

[14] Nationale Strategie zur biologischen Vielfalt. Bundesministerium für Umwelt, Naturschutz und nukleare Sicherheit (BMUB), 7. November 2007 (Kabinettsbeschluss). http://surl.li/inggl Accessed on October 19, 2024.

[15] Outcome Document of the Ukraine Recovery Conference URC2022, “Lugano Declaration”. Lugano, 4-5, 3. Accessed on October 19, 2024.

[16] Pimenov, S., Pimenova, O., & Fyliuk, H. (2020). Methodical Bases of an Estimation of Mutual Relations of the Enterprise with Stakeholders in the Course of Development of Business Model. In Management of Organization and Administration: Theory and Practice, pp. 19–41. Kyiv.

[17] Pimenova, O. (2017). Financial support for agricultural producers: the experience of developed countries. Theoretical and Applied Issues of Economics, 2(35), 141–150.

[18] Public Opinion Survey for the European Union Advisory Mission in Ukraine. Kyiv International Institute of Sociology, September 2023. https://kiis.com.ua/materials/pr/20231026_r/AReport_PublicSurvey_EUAM_sept2023_eng_public.pdf Accessed on October 19, 2024.

[19] Redko, K., Borychenko, O., Cherniavskyi, A., Saienko, V., Dudnikov, S. (2023). Comparative analysis of innovative development strategies of fuel and energy complex of Ukraine and the EU countries: international experience. International Journal of Energy Economics and Policy, 13(2), 301-308. https://doi.org/10.32479/ijeep.14035

[20] Sabato, S., Vanhercke, В., & Guio, A.-C. (March 10, 2022). A “Social Imbalances Procedure” for the EU: towards operationalisation. European Trade Union Institute. https://doi.org/10.2139/ssrn.4065513

[21] Semenets-Orlova, I., Kushnir, V., Rodchenko, L., Chernenko, I., Druz, O., & Rudenko, M. (2023). Organizational development and educational changes management in public Sector (case of public administration during war time [Desenvolvimento organizacional e gestão de mudanças educacionais no setor público (caso da administração pública em tempo de Guerra)]. International Journal of Professional Business Review, 8(4). https://doi.org/10.26668/businessreview/2023.v8i4.1699

[22] Shatz, H. J., & Chandler, N. (2023). Reconstructing Ukraine: Creating a Freer, More Prosperous and Secure Future. Santa Monica CA: RAND Corporation. https://www.rand.org/t/RRA2200-1 Accessed on October 19, 2024.

[23] Ukraine Rapid Damage and Needs Assessment February (2022).–February 2023. – Washington, D.C.: World Bank Publications, 21. https://documents1.worldbank.org/curated/ Accessed on October 19, 2024.

[24] Van der Maesen, L. J. G. (Winter 2020). Concluding Remarks. A “Social Quality Observatory” for Central and Eastern European Countries? International Journal of Social Quality, 10(2), 113-138. https://doi.org/10.3167/IJSQ.2020.100209

[25] Walker, A., & van der Maesen, L. (2004). Social Quality and Quality of Life. Challenges for Quality of Life in the Contemporary World / Glatzer, W., Von Below, S., Stoffregen, M. (eds). Social Indicators Research Series, 24. Dordrecht: Springer, pp. 13–31. https://doi.org/10.1007/978-1-4020-2903-5_2

[26] World Bank Group (April 2024). Aid, recovery and sustainable reconstruction: Providing assistance to Ukraine to meet its immediate and medium-term economic needs (Ukrainian). http://documents.worldbank.org/curated/en Accessed on October 19, 2024.

[27] Zaichko, I., Vysotska, M., Miakyshevska, O., Kosmidailo, I., & Osadchuk, N. (2021). Modelling of public financial security and budget policy effects. Journal of Computer Science and Network Security, 21, 9, 239-246. http://paper.ijcsns.org/07_book/202109/20210932.pdf Accessed on October 19, 2024.

Abstract

References

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