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International experience of post-war economic recovery: search of strategic approaches for Ukraine

Year: 2024
Type: article
Abstract: Russian aggression has the largest negative impact on the national economy in the entire history of Ukraine and created real prerequisites for a long-term negative impact on the further development of the state. The high risks of a deep post-war recession require developing future scenarios for the recoveryand development of the national economy at the current stage, basing on high-quality and realistic strategizing, which will allow the economy to be put into recovery mode.In this context, consideration of historical experience of economic recovery in war-affected countries is extremely important in the view of forming strategic approaches to economic renovation.The article is devoted to: the study of various models of post-war economic recovery based on the historical experience of other countries and ways of taking them into account in the process of strategic planning of Ukrainian economic recovery; the formation of proposals on strategic benchmarks for recovery and development of Ukrainian economy.A comparative analysis of foreign practices of post-war reconstruction gives reasons to assert that the main attention should be paid to the actions taken by most countries in the process of economic recovery in order to model the sustainable process of Ukraine recovery, and it is also necessary to usethe opportunities for economic growth specific to Ukraine. Future scenarios of economic recovery and development should be developed and work on the elaboration of recovery planning and strategic documents should be carried out even at this stage.Strategic priorities of building a post-war model of economic development for Ukraine should be those that guarantee the effectiveness of the economy and its ability to compete within European economic space. The following strategic benchmarks for post-war economic recovery of Ukraine are proposedby this study basing on world experience and taking into account current Ukrainian realities:• Determining and developing the economy priority sectors with an emphasis on innovations andhigh-tech industries. • Export orientation of the national economy.• Ensuring sustainable investment attractiveness.• Creating a favorable business environment.• Urgent restoration and continuous development of the infrastructure for the national economy.• Creating the effective system of training highly qualified personnel and specialists.At the same time, the following factors should be taken into account when forming the characteristics of the post-war economic development model of Ukraine: the need to implement the EU Association Agreement; adopted goals of sustainable development of Ukraine for the period until 2030; available opportunities for digitalization of the country's economy; the global need to focus on the green course; longterm cyber security and technological threats connected with current military and political situation.The results of the study can be used to create a model of post-war economic recovery for Ukraine in order to use it in the process of strategic planning for the reconstruction of Ukraine's economy.
Language: English
Open Access status: green
OpenAlex ID: W7057507199
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