How is the post-pandemic economy transforming into a post-war economy in Ukraine: challenges for economic policy and society?

Oleksandra Moskalenko

doi:10.26354/bb.1.1.86.2022

Published : 2022-04-14

Vol. 86 No. 1 (2022)

How is the post-pandemic economy transforming into a post-war economy in Ukraine: challenges for economic policy and society?

Oleksandra Moskalenko

https://orcid.org/0000-0003-1036-5356

DOI: https://doi.org/10.26354/bb.1.1.86.2022

Abstract

The article considers the specifics of the Ukrainian economic transformation under the impact of recent macroeconomic shocks, i.e. the world pandemic and the war. The main goal of the research is the analysis of the challenges to the Ukrainian economy and society under the pandemic and the military aggression and economic policy instruments that the government used. An analysis of the new business cycle for Ukraine in W-form is presented with an explanation of the recovery trajectories, where international economic support plays its significant role The directions of and financial resources for the recovery of Ukraine's post-war economy have been identified, including international assistance from partner countries (EU members, USA, and others), international organizations (IMF, World Bank Group, UNDP), and the Solidarity Fund that is going to be created. Preliminary estimates of damage to transport and social infrastructure, housing, and other material losses, as well as the problem of forced emigration of Ukrainian citizens are presented in this-article. The paper includes the IMF's assessments of how the war in Ukraine impacts the global economy and its practical recommendations for monetary and fiscal policies for governments.

Keywords:

multiple macroeconomic shocks, a pandemic, (post)-military economy, W-form of economic recovery, volunteer economy

JEL Codes

H22, H41, I30, O11, E02

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Moskalenko, O. (2022). How is the post-pandemic economy transforming into a post-war economy in Ukraine: challenges for economic policy and society?. Safe Bank, 86(1), 9–32. https://doi.org/10.26354/bb.1.1.86.2022

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This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.