ECONOMIC DETERMINANTS AND CONSEQUENCES OF THE WAR IN UKRAINE: ANALYSIS BASED ON INSUFFICIENT DATA

Abstract

Abstract. Any war is related to the production, exchange, distribution and consumption of limited economic resources in order to ensure protection from military aggression and based on the formation of a military-oriented national economy. The purpose is to specify the chief economic determinants of the war and identify the peculiarities of the Ukrainian economy functioning in the conditions of the military aggression taking into account insufficient information. Scientific methods of induction and deduction, analysis and synthesis, comparison are used. The author has identified that the major economic determinants of the war in Ukraine are military-oriented business activity, fiscal and monetary policy, employment and social protection of the population, quality of the human capital, current costs on the military operation, ecological losses and funding programs for elimination of the consequences of negative impact on the natural environment, high level of the shadow economy and corruption, foreign economic activity, changes in the political and economic imperative of the country development, post-war reconstruction financing. The main features of the economic determinants of the war in Ukraine, their interconnectedness and complementarity with each other are revealed. It was found out that the result of their interaction is a gradual adaptation of the activities of households, firms and the state to functioning during the war and the formation of the basis for the post-war reconstruction of the national economy. The structural and logical model of Ukrainian economy functioning in the conditions of the war was formed, which defines the key directions of activity related to stimulating business processes, preserving the human capital, evaluation of military losses and transforming the sustainable development goals. The author has substantiated the expediency of forming a Comprehensive Strategy for the post-war restoration and development of the economy of Ukraine, the basis of which is the formation of specialized funds for the post-war regeneration of the country built on the use of multichannel funding. Key words: economic determinants of the war, a national economy, business activity, employment, fiscal and monetary policy, foreign economic activity.