Economic Development Of Ukraine Research Articles

Evaluating Current Demographic Challenges in Ukraine due to the Forced Migration of Economically Active Citizens

The relevance of the research topic is driven by the increasing risks to demographic development due to the war in Ukraine and the outflow of the economically active population. The article outlines the importance of demographic processes for the country’s economic stability and social development. The research aims to analyse the impact of migration flows on Ukraine’s demographic situation and develop proposals for improving demographics. The methodology includes the analysis of the current state of demographics, migration processes, development scenarios, and possible measures to ensure development stability. The research results reveal the problems of demographic development through the geographical diversification of the economically active population. An essential area of the study in the article is the analysis of the impact of forced migration on the labour market, social structure, and economic development of Ukraine. The practical significance involves the development of recommendations for state policy regarding supporting demographic development during the war and the post-war period. The article aims to evaluate measures to stimulate the return of migrants, support birth rates, and improve social infrastructure. The analysis results may help develop strategic plans to restore Ukraine’s demographic potential. Measures to strengthen demographic stability and their possible implementation are presented in the face of current challenges. Further directions for optimising state policy to ensure sustainable demographic growth and economic development of the country are outlined.

ІНСТРУМЕНТИ СТИМУЛЮВАННЯ МІСЦЕВОГО ЕКОНОМІЧНОГО РОЗВИТКУ УКРАЇНИ В УМОВАХ НЕСТАБІЛЬНОСТІ

The research emphasizes the objectively existing need, as well as the problems of ensuring local economic development in Ukraine, in particular under conditions of critically acute economic and social instability caused by a full-scale war and its consequences. The purpose of the study is to determine the scientific justification of the tools for stimulating and ensuring the local economic development of Ukraine under the instability. It is shown that in the conditions of a full-scale war, the regional socio-economic systems of Ukraine faced such challenges as large-scale external and internal migrations of the population, deepening of depopulation problems, reduction of employment and the number of jobs due to the cessation of activities or relocation of enterprises, the growth of precarization in the labor market and social and labor insecurity of vulnerable categories of the population, the development of sectoral and structural imbalances and the strengthening of personnel problems in the labor markets. Accordingly, the latest challenges have become the main causes of destabilization of the spatial development of Ukraine's economy. The results of the analysis made it possible to identify, firstly, the significant typicality of existing problems, secondly, the significant resource limitations of local self-government bodies, thirdly, the need to involve innovative solutions, fourthly, the relevance of developing practices of intermunicipal socio-economic cooperation and integration of efforts in this way, fifthly, the need for a systemic and strategic approach, when based on visions, strategies and development programs, investment passports of territorial communities, a single coordinated regional master plan of industry specialization and development will be formed. The basic principles of two regional policy strategies in terms of stimulating local economic development are substantiated: (1) stabilization, (2) proactive. The strategic goal of each of these approaches is indicated, as well as a set of tools is defined, the implementation of which allows to activate the processes of local economic development in Ukraine under current conditions of instability.

PRIORITY DIRECTIONS OF ENTERPRISES DEVELOPMENT IN THE WAR CONDITIONS BASED ON THE IMPLEMENTATION OF INFORMATION TECHNOLOGIES AND DIGITAL TOOLS

The article examines the modern challenges faced by Ukrainian enterprises in war conditions and the strategic approaches to adapting to these challenges. As business leaders, policymakers, and analysts, your understanding and support are crucial. The current stage of Ukraine's economic development, characterized by high instability due to the full-scale invasion of Russia, dictates new conditions for the functioning of domestic enterprises. In these conditions, implementing information technologies and digital tools becomes critically important for ensuring sustainable development and adaptation of enterprises to new realities. The influence of the war on the strategic behavior of enterprises is considered in detail, emphasizing the need to adapt to rapid changes in the external environment. In constant uncertainty and risks, enterprises are forced to look for new development opportunities, actively implement information technologies, and diversify their activities. The main challenges and barriers faced by enterprises during the war are also analyzed. Among them are the lack of sufficient capital, limited access to credit funds, the unpredictability of the situation in Ukraine, the negative impact of government decisions on business, and others. To overcome these problems, enterprises must look for development directions and develop appropriate development strategies that consider internal opportunities and external threats. Digitization and the use of information technologies are becoming critical tools for achieving these goals, allowing enterprises to adapt to changes in the external environment quickly, increase the efficiency of their activities, and maintain competitiveness. Special attention is paid to such promising development directions as DefenseTech, FinTech and cyber security. These directions, with their significant potential for development in wartime, provide the necessary technological solutions to improve the security and efficiency of enterprises, offering a beacon of hope for the future. Thus, the article provides a comprehensive analysis of the priority directions of enterprise development in wartime conditions, with an emphasis on implementing information technologies and digital tools.

Opportunities and Threats for the Strategic Development of Ukraine's Economy until 2030

The process of strategic development of Ukraine's economy is largely complicated by the presence of a hot vase of military operations on the territory of the state. Nevertheless, for the post-war recovery, it is necessary to develop key areas of economic development today. Given the current level of GDP, which has decreased by 4% compared to the pre-war period, and the outflow of capital investments, which amounted to almost 50%. Given the relevance of the research topic, its purpose can be defined as a generalisation of approaches to the development of directions for the strategic development of Ukraine's economy with specification of opportunities and threats until 2030. The study used a systematic review of the scientific literature with a focus on publications from the last five years to ensure that the analysis of Ukraine's economic development strategy is up-to-date and relevant. The research methods included the construction of a strategic map to outline key areas of economic recovery, complemented by a SWOT analysis to assess opportunities, threats, strengths, and weaknesses. Based on the results of the literature search, 40 scientific papers were selected from the Web of Science and Scopus databases that are directly related to the research topic. It is proved that during the period of post-war recovery and the creation and further implementation of the economic growth strategy, emphasis should be placed on ensuring the following areas of development of the Ukrainian economy: creating a favourable and maximally transparent investment climate to attract investors; countering demographic changes and creating conditions for the return of the population that left Ukraine at the beginning of the war; diversifying economic processes and the economic potential of the State; ensuring the restoration of the energy sector In addition, in the process of developing the topic, a strategic map for the implementation of strategic directions for ensuring Ukraine's economic development until 2030 was created. The SWOT analysis has identified both opportunities and threats in implementing the action plan, with the main condition being the end of active hostilities in the country.

Розвиток жіночого інноваційного підприємництва в Україні у процесі європейської інтеграції

Introduction. The process of European integration of Ukraine opens up new opportunities for the development of innovative entrepreneurship, in particular for women entrepreneurs. Economic and social challenges related to the post-war reconstruction of the country and the need to comply with the EU standards make the issue of effective use of the potential of women’s entrepreneurship in the innovative field relevant. Problem Statement. Determination of ways and mechanisms of using the opportunities of European integration to stimulate the development of women’s innovative entrepreneurship in Ukraine. The purpose is to assess the current state of women’s innovative entrepreneurship in Ukraine, to identify prospects for its development in the context of European integration, and to develop recommendations for its support. Methods. Theoretical analysis of scientific sources, study of European practices of supporting women’s innovative entrepreneurship, comparative analysis and generalization were used. Results. The key directions of using European integration for the development of women’s innovative entrepreneurship in Ukraine embrace: 1) adaptation of European financing and business acceleration programs; 2) implementation of European standards of gender equality; 3) participation in European networks and exchange of experience; 4) adaptation of European educational programs. The implementation of these directions will contribute to economic growth, the creation of new jobs and the general elevation of the role of women in society. Conclusions. European integration creates favorable conditions for the development of women’s innovative entrepreneurship in Ukraine through access to new markets, financial resources and advanced practices. The key success factors are the adaptation of Ukrainian legislation to EU standards, the creation of specialized support programs and the development of educational initiatives for women entrepreneurs. The implementation of the proposed recommendations will contribute to the growth of the number of women’s innovative enterprises and the strengthening of their role in the economic development of Ukraine.

Legal regulation of inventions, utility models in Ukraine and the EU

The author considered the legal regulation of inventions and utility models in Ukraine and European experience. The legislation of Ukraine by year regarding inventions, useful models and the experience of solving issues in this field of some European countries was analyzed by year . The importance of gaining experience for development of a more predictable policy in the field of intellectual property and harmonization of Ukrainian legislation with international legal norms as well as adaptation of Ukrainian legislation to the EU legislation were determined. The importance of working with intangible assets, in particular, in the conditions of russia's aggressive war against Ukraine, was determined, as far as it is a proven way to ensure economic growth and stability. Intangible assets include the results of research and development works, in particular, inventions, useful models, etc. Intangible assets, invisible to a non-specialist, can help to improve economic prospects, create higher-paying jobs and improve product quality as well. On the basis of the study of legislation in the field of intellectual property in Ukraine and the EU, there were identified some issues, that require deeper study and quick resolution needed for the development of Ukrainian economy. Namely, shortening the terms of examination of inventions and useful models, finding new ways to increase the motivation of authors to create inventions and useful models. During the research, it was found that a patent for a utility model can provide advantages to its owner on the market for a short time, since after 2-3 years, when a patent for an invention can be obtained, the product under the patent will no longer find demand and will not allow the manufacturer to return the investments, spent on its development and promotion to the market. Therefore, in order to preserve some branches of industry in Ukraine, it is proposed to leave the object of a useful model, the legal protection of which is provided – it can be a substance. This will save, for example, the chemical and oil refining industries in Ukraine.

Migration as an effect of russian aggression against ukraine: understanding the consequences

It has long been no secret that migration processes have a great impact on the number and composition of the population of all countries. These processes have always played and will play a multifaceted role in the development of mankind, acting as a form of human adaptation to the changing conditions of its existence. The war between Russia and Ukraine, which began back in 2014 with the occupation of Crimea along with some areas of Donetsk and Luhansk regions, has serious far-reaching consequences, one of which is significant migration flows. As a result of hostilities, occupation, and invasion of Russian troops in February 2022, many Ukrainians were forced to seek refuge in other regions of the country or beyond. This led to the emergence of mass internal migration to relatively safe regions of Ukraine and unprecedented in the history of our country external migration to neighboring European states. Accordingly, these migration processes have a great impact on the demographic structure and social situation both in the receiving regions of Ukraine and in the countries that received Ukrainian refugees. It has been demonstrated that the main demographic risks faced by Ukraine pose a threat to stable socio-economic development and have become a serious challenge for Ukrainian society. The most urgent task of Ukrainian migration policy today is the development of political instruments that would encourage and facilitate the return of Ukrainian refugees to their homes. The article uses a systematic analysis based on statistical data of international and public organizations, and statesmen to determine the peculiarities of migration flows in war conditions; induction and deduction - to systematize the key causes and consequences of the migration of the population of Ukraine. The main emphasis is on the analysis of the impact of migration processes on the economic development of Ukraine, social stability and cultural identity of the population.

Influence of institutional and structural changes on the financial and economic development of Ukraine

Influence of institutional and structural changes on the financial and economic development of Ukraine

DEVELOPMENT OF INTERNATIONAL ACTIVITIES OF INDUSTRIAL ENTERPRISES

The article delves into the urgent issues surrounding to the development of Ukraine's enterprises' international activities in contemporary conditions. It provides a meticulous examination of the fluctuating landscape of Ukraine's exports and imports, meticulously identifying key trends and primary drivers behind these changes. Special attention is paid to the development of exports of domestic metallurgical and agricultural products, as well as the analysis of service exports and the identification of negative factors affecting the operations of exporting enterprises. Additionally, the article meticulously examines the commodity structure and geographical distribution of imports, offering a comprehensive understanding of the nation's trade dynamics. Drawing from this exhaustive analysis, it arrives at conclusive insights regarding the imperative need for structural reforms within the domestic economy. Central to the discourse is the imperative need for the formulation of a comprehensive industrial policy, determining its fundamental principles and strategic priorities. The article underscores the urgency of adopting proactive measures conducive to contemporary demands at macroeconomic, regional, and microeconomic levels. It is envisaged that these measures will enhance the resilience and effectiveness of international trade operations amid global changes in the local and global markets, thereby strengthening the country's economic foundations and enhancing its competitiveness on the international stage. The article contains a profound analysis of various aspects shaping the trajectory of enterprises' international interactions. It emphasizes the necessity of forming a comprehensive industrial policy and delineates its principles and priorities aimed at reshaping the economic landscape and stimulating sustainable growth in an era characterized by unprecedented volatility and interconnectedness. The conclusion is drawn that the modernization and development of the internal processing industry should become a key factor in enhancing competitiveness and fostering economic development in Ukraine

EXPERIENCE AND PROSPECTS OF CHINA-UKRAINE ECONOMIC AND TRADE COOPERATION IN THE JOINT CONSTRUCTION OF THE BELT AND ROAD INITIATIVE FROM 2013 TO 2023

In 2013, China proposed the Belt and Road Initiative with the aim of closely integrating its rapidly developing economy with the economies of countries along the Belt and Road route, creating new opportunities for economic development through complementarity. Ukraine, located in the connecting zone between Europe and Asia, is an important country along the Belt and Road route leading to Europe. 2023 marks the tenth anniversary of China-Ukraine cooperation in the Belt and Road Initiative. Over the past decade, cooperation between China and Ukraine in various fields such as trade and investment has deepened, accumulating rich experience. This article systematically reviews the historical process of China-Ukraine cooperation in the Belt and Road Initiative over the past ten years, analyzes the development trends of bilateral trade, and examines the experience accumulated in areas such as infrastructure, agriculture, investment, mineral development, and high-tech cooperation within the Belt and Road framework. The challenges faced by the two countries in jointly building the Belt and Road Initiative are also analyzed, mainly focusing on the impacts of Ukraine's domestic political instability and policy changes during regime transitions. Economic development in Ukraine has been affected by geopolitical conflicts, resulting in market instability and affecting investment and project progress. These factors pose challenges to the Belt and Road Initiative, particularly the severe impact of the outbreak of war. Additionally, this article introduces the current efforts of China and Ukraine to strengthen communication and cooperation in order to achieve a peaceful resolution as soon as possible. In the future, once the ongoing war comes to an end, both countries can leverage their ten years of experience in economic and trade cooperation. With a stable political situation and increasing market attractiveness in Ukraine, both sides can fully unleash the role of market entities, expand bilateral cooperation, promote the alignment of their economic development strategies, and actively engage in post-war reconstruction cooperation.

PROCESS OF UKRAINE'S FINANCIAL SECTOR INSTUTIONALIZATION AND ROLE OF CORPORATE SECURITIES MARKET

This article deals with the characteristics of the institutionalization process of the financial sector in Ukraine and the role of the corporate securities market in it. It is determined that the modern domestic financial sector is characterized by significant institutional imbalances, primarily due to the insufficient effectiveness of state policy in this area. For many years, banks have been the key players in the domestic financial sector, which significantly reduced the level of financial inclusion. The development of non-banking financial institutions has been fragmentary, significantly undermining public trust in the financial sector. In particular, this concerns the activities of credit unions in Ukraine, where the market volumes of private pension provision have been minimal for a long time. Some existing institutional imbalances were overcome through the rapid digitalization of certain segments of the financial market, but the overall level of financial inclusion remains low. The process of institutionalization of the domestic financial market occurred against the background of the weakness of the corporate securities market. The article notes that this situation was a consequence of the lack of interest from joint-stock companies in market methods of capital attraction. Along with this, domestic financial institutions are not interested in investing in corporate securities. Thus, the reluctance of public corporations to place their securities on the market coincides with a peculiar investment strategy of financial institutions. As a result, the volumes of the primary corporate securities market in Ukraine are minimal (especially in the stock market), and government securities dominate the secondary market for a long time. This situation poses a series of threats to Ukraine's economic development and requires appropriate actions from the state aimed at the activation of the corporate securities market. It can now be stated that domestic public corporations are non-competitive in the global financial space, which destructively affects their market positions.

Formation of economic indicators of national security in the context of business digitalization and changes in the economy

Abstract. Today, Ukraine's economic development is taking place in the context of market competition, negative phenomena in the foreign economic sphere, and most importantly, russia's full-scale military aggression. At the same time, economic relations in the country are characterized by such undesirable phenomena as the shadow economy, economic inequality of business participants, growth of external debts, decline in economic activity, deficits of the state and territorial budgets, unprofitability of business entities, migration processes, unemployment, and poverty. The article examines the content of the concept of economic security in the context of the national security component, which is determined by a set of tasks based on the implementation of the Economic Security Strategy of Ukraine for the period up to 2025. The author analyzes the dynamics of indicators that determine the state of economic security of Ukraine and the existing threats in the national economy. In order to monitor the state of economic security in accordance with the Strategy, it is proposed to fulfill the task of its scientific support, to develop methodological recommendations and a mechanism for interpreting the integral indicator. At present, there is no information on the level of economic security of Ukraine on the official websites of the legislative and executive branches of government since 2021. The system of reservations regarding the indicators for assessing the economic security of Ukraine proposed in the Strategy is substantiated. A simplified list of indicators for monitoring the state of economic security is defined and interval signs of economic development scenarios at the level of optimistic, pessimistic and basic characteristics are developed for the integral indicator. The assessment of the status of economic security objects (the State, territorial communities, types of economic activity, business entities) is significantly influenced by the development of digitalization of the economy. It is established that in our country the processes of digitalization do not have a cross-cutting connection «business entities – types of economic activity – territorial communities – the State», but arise and develop locally within individual business and government structures.

TRENDS IN THE DIGITAL TRANSFORMATION OF UKRAINE'S ECONOMY IN THE CONTEXT OF WAR

Influenced by the processes of global digital transformation and the requirements set by the European Union in the context of European integration, the Ukrainian economy, even before the full-scale invasion, was focused on the development of digital technologies that allow increasing the level of production automation and labour productivity, reducing costs, increasing revenues, improving competitiveness and realising other benefits of digitalisation. At the same time, during the war, the role of digital technologies is growing, turning into a flexible tool that ensures the economic sustainability of Ukraine. Despite the considerable attention of researchers to the problems of building Ukraine's digital economy in wartime, the key features and trends of its development require a more detailed study, taking into account the challenges and tasks that arise in martial law and can be quickly and effectively addressed with the help of digital technologies. In this regard, the study of the specifics of the development of digital transformation of the economy in order to achieve Ukraine's strategic goals in wartime deserves special attention. The subject of the study is the process of digital transformation of Ukraine's economy in wartime. The purpose of the study is to analyse the features and trends in the development of Ukraine's digital economy, taking into account the challenges and needs of wartime, and to propose ways of post-war recovery. The study of the problem was carried out with the use of a combination of general scientific and modern research methods, among which the main ones are the method of system analysis (when studying the approaches and points of view of domestic and Western scientists), economic and statistical (to determine the trends in the development of the digital economy in Ukraine), analysis and synthesis (when studying the types of digital economy), graphic (to visualize a number of theoretical and practical provisions of the article). The purpose of the article is to study the peculiarities of development of Ukraine's digital economy in the context of current challenges caused by the war. The authors emphasises that digitalisation processes are important for the restoration and development of the national economy and for increasing the country's competitiveness. The importance of further development of the digital economy is determined not only in the context of war, but also to overcome its consequences in the period of post-war recovery. Conclusions. Digital technologies have a significant potential to restore the national economy and accelerate economic development, as they can facilitate the transition from the use of material to information resources, reduce production costs, create new technological products and bring them to the global market, increase the country's competitiveness, etc. In addition, digital technologies can accelerate Ukraine's economic development both during the war and in the period of post-war reconstruction. This contribution is supported by the research work of the Department of Accounting and Taxation of the National University Zaporizhzhia Polytechnic 05711 "Modern concepts and practice of development of accounting, auditing and taxation in the context of economic globalization".

SOCIAL RESPONSIBILITY OF BUSINESS AS A TOOL FOR IMPLEMENTING THE PRINCIPLES OF SUSTAINABLE REGIONAL DEVELOPMENT

Among the most effective mechanisms for social development and institutional modernization of the national economy in European practice is the system of social responsibility of business. Given the European integration trajectory of Ukraine's economic development, the issue of aligning social responsibility of business standards with European norms remains a subject of debate and requires further research. The implementation of European legislation on social responsibility of business standards is a crucial task in Ukraine's reform process, as it can serve as a foundation for modernizing the institutional environment of the national economy and as an indicator of its success. We believe that the primary priorities for developing of social responsibility of in Ukraine should include: state promotion of the importance of social responsibility of business, its benefits, and its necessity for society; the creation of a state fund and the allocation of local budget funds for partial co-financing of social projects implemented by private enterprises; the provision of various tax incentives and moral encouragement for entrepreneurs who invest in socially important projects; and the introduction of mandatory social reporting at the national level for companies eligible to list shares on stock exchanges, participate in government tenders, obtain certain licenses etc..

CONTEMPORARY TRENDS IN THE BUSINESS ENVIRONMENT IN UKRAINE

The article examines the impact of external and internal factors on the macroeconomic situation and business environment in Ukraine. It discusses the peculiarities of the business environment's reaction to unstable conditions, including the presence of financial reserves in companies, cost optimization, and management strategies. The influence of war on the demand and supply of services, changes in the economic structure, and new requirements for businesses are analyzed in detail. The size and basic characteristics of economic sectors are studied, and factors affecting business efficiency in Ukraine are identified. The article focuses on determining the interrelations between the development of the business environment and economic processes in Ukraine. It reviews the specificities of Ukraine's macroeconomic situation during wartime and the impact of external and internal factors on economic development. Moreover, key macroeconomic indicators are analyzed based on statistical data, and a detailed study is conducted on how full-scale war affects Ukraine's economy. The reaction of the business environment to unstable conditions, including the availability of financial reserves in companies, cost optimization, and management strategies, is also analyzed. Special attention is paid to the impact of war on demand and supply. The segments of the economy most affected by the war are examined, as well as changes in the economic structure. The size and basic characteristics of the economy are analyzed, and trends in development and factors influencing its efficiency are identified. Various methods are used in the study, including analysis of statistical data, expert surveys, and comparative analysis with macroeconomic indicators. In particular, the research is oriented towards determining the interrelations between the influence of external factors and economic processes in Ukraine. Based on the obtained data, regularities of economic development in Ukraine are formed, and a forecast for the economy's development in 2024 is constructed. The conclusions of the study may be useful for professionals interested in Ukraine's macroeconomic processes, as well as for businesses and government structures involved in strategic planning.

Зовнішньоекономічна торговельна діяльність України: аналіз, тенденції та перспективи розвитку

Foreign trade relations play a key role in the national economy, as they are the basis for the international exchange of goods and services between different countries. Therefore, the study of the state and prospects for the development of Ukraine’s foreign trade activity is relevant task for further effective economic growth. This study is devoted to the study of the impact of foreign trade relations on the economic development of Ukraine. The main functions, principles and rules of the World Trade Organization (WTO), which ensures the competitiveness of products in the world market, are disclosed. The main foreign trade partners of the country are studied, the structure of exports and imports of goods and the state of the foreign trade balance of Ukraine for the last three years are considered. The research model is based on an integrated approach, using methods such as analytical, statistical, analysis and synthesis. The research work analyzes the theoretical aspect of foreign trade relations, the state of Ukraine’s foreign trade and develops recommendations for their improvement. The practical significance lies in the analysis of the current state of Ukraine’s foreign trade relations, identifying the main problems and identifying possible ways to solve them. This makes it possible to define precise directions for the further development of foreign economic activity, to develop effective strategies for attracting foreign investment, expanding export opportunities, as well as strengthening trade partnerships with other countries. The social effects of this article are to strengthen economic development and increase Ukraine’s competitiveness in the international arena.

ПРОЄКТНЕ ФІНАНСУВАННЯ В УМОВАХ РЕАЛІЗАЦІЇ “UKRAINE FACILITY PLAN”

In the context of the extensive destruction Ukraine has suffered as a result of the war, there is an acute shortage of funds for economic recovery. The assessment of damage, losses, and needs for the reconstruction and rebuilding of Ukraine is reflected in the updated World Bank report - Third Rapid Damage and Needs Assessment (RDNA3). The key tasks and goals for Ukraine's economic development are outlined in the Ukraine Facility Plan. Given this, the organizational, legal, and financial aspects of interaction with potential investors require greater attention in the implementation of the priorities set out in the Ukraine Facility Plan. This article is dedicated to studying the mechanism of project financing in Ukraine in the context of implementing the comprehensive economic development plan - Ukraine Facility Plan. It reveals the features of organizing the financing of projects with significant investments in the real sector of the economy. The article provides a list of organizations responsible for the development and implementation of the "Ukraine Facility Plan" at national and territorial levels, as well as those facilitating interaction with foreign investors. A list of contentious issues related to the imperfections of the current financial and legal mechanism, which may lead to potential conflicts of interest and risks in the process of interaction between participants in the investment process in Ukraine, is defined. Attention is drawn to the need to intensify work on supporting foreign investments at the state and regional levels. Given the high level of business risk in Ukraine, the mechanism for assessing and distributing risks among project participants requires greater attention. Based on the study of existing legislation, it is concluded that financial risks are the primary types of risks in the implementation of projects with significant investments in Ukraine. A list of World Bank Group instruments that can be used to protect the interests of investors in the implementation of large-scale investment projects in Ukraine is presented.

GLOBALIZATION'S IMPACT ON UKRAINE: THE ECONOMIC LANDSCAPE OF AMIDST GEOPOLITICAL CHALLENGES

Background . Globalization, characterized by the worldwide exchange of goods, services, ideas, and culture, has profoundly influenced national economies. It involves the rapid development of productive forces necessitating new global production relations. Any efforts to restrict foreign goods or create non-market advantages for domestic producers will likely prompt retaliatory measures from other governments. Ukraine, located at Europe's crossroads and influenced by various geopolitical factors, is significantly impacted by globalization dynamics. Its engagement in global trade and economic relations has a history spanning several decades. Post-Soviet Union dissolution in 1991, Ukraine shifted from a centrally planned to a market-oriented economy, embracing international trade and investment. However, the 2014 Russian invasion drastically changed its economic path. The ongoing regional geopolitical tensions, worsened by Russian aggression, have severely challenged Ukraine's economic stability. The conflict has disrupted global supply chains and increased the fragility of Ukraine's economy, heightening its reliance on international support. Entities like the World Bank and the European Union have been crucial in aiding Ukraine's economic development and stability through financial support and policy guidance. Economic sanctions imposed in response to the conflict have further complicated Ukraine's economic situation. Trade, investment, and geopolitical risk-related policy issues are now central to shaping Ukraine's economic future and its ability to navigate uncertainties. Despite the challenges posed by the recent war and geopolitical tensions, opportunities exist for Ukraine to diversify trade relationships, advance political reforms, and strengthen its global position. Adapting to the evolving geopolitical landscape and leveraging its comparative advantages will be vital for Ukraine's long-term economic resilience. Thus, understanding globalization's impact on Ukraine demands a detailed examination of historical contexts, geopolitical dynamics, economic challenges, and growth opportunities. Methods . To obtain scientific results, the following methods were used: historical analysis which includes a historical overview of Ukraine's economic transition since the dissolution of the Soviet Union, detailing significant events like the 2014 Russian invasion and its impact on Ukraine's economy. Geopolitical and economic analysis examines the geopolitical factors influencing Ukraine, such as regional tensions and international support, highlighting the interconnectedness of politics and economics in the context of globalization. Policy Analysis discusses the roles of international organizations (e.g., World Bank, European Union) and the implications of economic policies and sanctions, suggesting a policy analysis method. The article looks forward, discussing potential opportunities and strategies for Ukraine to strengthen its economic resilience, showing an element of prospective or forward-looking analysis. Results . The invasion heightened geopolitical tensions and posed significant challenges for international relations. Ukraine's geopolitical risks stem from its complex history and strategic position between Russia and Europe. These risks strain relations with international players and impact economic stability and investment climates. The conflict caused economic uncertainties globally, affecting investment, financial stability, and market dynamics. Ukraine's role in globalization and its comparative advantage in natural resources and human potential influence its position in international trade. Disruptions led to production delays, increased costs, and supply shortages, impacting both businesses and consumers worldwide. Ukraine's integration into the global economy involves adhering to international standards and improving product competitiveness. The European Union's response through economic sanctions and trade policies illustrates its proactive stance against geopolitical risks and economic instability. Ukraine leverages its diverse resources and skilled workforce to strengthen its trade position. Effective utilization of comparative advantages and addressing geopolitical risks are critical for Ukraine's adaptation to global trade dynamics. The Russian invasion of Ukraine had profound consequences for global trade, emphasizing the interconnectedness and fragility of modern economiStrategies for diversification, resilience in supply chains, and effective risk management are essential for navigating geopolitical tensions and economic uncertainties. Conclusions . In conclusion, the Russian invasion of Ukraine in 2022 had significant repercussions on global trade, reshaping economic landscapes and geopolitical alliances. The conflict disrupted global supply chains, particularly in agriculture and manufacturing, and heightened geopolitical tensions, complicating international relations and cooperation. Ukraine's strategic location as a transit route for natural gas further influenced global energy dynamics, contributing to economic uncertainties and financial instability worldwide. This situation underscored the interconnectedness and fragility of modern economies, emphasizing the importance of diversification, resilience in supply chains, and effective risk management strategies to navigate geopolitical tensions and economic uncertainties. Understanding Ukraine's geopolitical risks, derived from its complex history and strategic position, is essential for comprehending the broader global landscape and the uncertainties facing the country. As Ukraine continues to integrate into the global economy, fostering innovation, collaboration, and a global mindset will be crucial for harnessing the opportunities presented by globalization while mitigating its inherent risks

ЗАСТОСУВАННЯ ШТУЧНОГО ІНТЕЛЕКТУ В ФІНАНСОВО-ЕКОНОМІЧНОМУ АНАЛІЗІ ДІЯЛЬНОСТІ ПІДПРИЄМСТВА

The article examines the peculiarities of artificial intelligence development and the using its achievements for the future development of Ukrainian economy, in particular in accordance with the Concept of Artificial Intelligence Development in Ukraine. The major tasks of AI using in economical spare of Ukraine are: stimulating the development of entrepreneurship in the field of artificial intelligence; motivation of business to introduce artificial intelligence technologies to increase their own efficiency; development of the Roadmap to retrain people whose work can be automated in the nearest future; introduction of the state order for artificial intelligence systems, IT specialists and data researchers; stimulation of partnership between the state and business in the field of innovative projects, as well as improvement of legislation in the relevant field. Using of information technologies allows to monitor business projects, influence the results of business operations, which enables to warn possible risks and make effective decisions. AI is a modern tool capable to increase business efficiency through rapid analysis of available data, that lets choose the best development strategy. The main advantages of using AI include: forecasting financial and market-commercial risks; optimization of development strategies; creation the system for monitoring business results in real time; automation of accounting and financial and economic analysis; analysis of market and economic trends. The key problems in the economic sector that affect the development of AI in Ukraine are separated, special attention is paid to the advantages and risks of using artificial intelligence technologies in business activities, among them low-quality data for analysis, opacity of the obtained results, as well as the risk of privacy loss. In order to minimize the possible risks connected with the loss of confidential data, it is proposed to use of software that would allow, taking into account the industry specifics of each enterprise's activity, to maintain, monitor and analyze significant data. That would allow to monitor the effectiveness of business processes in the real time mode and make efficient management decisions without fear of leakage of important confidential information.

“GREEN FINANCE” IN THE PARADIGM OF SUSTAINABLE BANKING DEVELOPMENT OF THE ECONOMY OF UKRAINE

Introduction. The concept of sustainable development, which has been recognized by the UN and all countries of the world over the past 30-40 years, has become the consensus official paradigm of the world economy in the 21st century. The changed paradigm of the global economy, the foundation of which became the "Goals of sustainable development, the climate agenda and ESG – the transition created a new mega trend of the financial industry – “sustainable finance or finance of new quality”. “Green finance” is considered as a strategic direction of sustainable financing. The purpose of the article is to substantiate theoretical and practical conceptual approaches to the definitions of “green economy” and “green finance” in the new paradigm of the global economy, as well as their use in the sustainable investment development of Ukrainian economy. Results. Key initiatives in the field of sustainable development, as well as conceptual approaches to the definitions of "green economy" and "green finance" are considered. Focused attention on the concept of sustainable finance, the trend of which foresees a revolutionary approach from the classical paradigm of finance to a new paradigm. Financing instruments and mechanisms, such as green bonds, credits and loans, which are not fundamentally new in technical terms, but contain an ecological component, have been analyzed. It is argued that the concept of sustainable development finance acquires both theoretical justification and practical confirmation in the academic discourse. The NBU strategic approaches to the construction and development of sustainable financing, taking into account ESG factors in the European integration vector of Ukraine were studied. Conclusions. It is justified that the paradigm of sustainable finance should be considered in an inextricable relationship with the notions of sustainable development and sustainable investment, which is correlated with the achievement of sustainable development goals. In further scientific research, it is necessary to pay special attention to the key principles of the development of sustainable financing in Ukraine, especially the implementation of environmental, social and managerial (ESG) factors, which will become mandatory elements of the corporate management systems of financial institutions.