BUSINESS INFORM JOURNAL.

УКР

ENG

Search:

REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

PUBLISHER

Liburkina L. M.

SITE SECTIONS

Resilience of Economy: Its Essence and Challenges for Ukraine
Khaustova V. Y., Reshetnyak O. I.

Khaustova, Viktoriia Ye., and Reshetnyak, Olena I. (2023) “Resilience of Economy: Its Essence and Challenges for Ukraine.” Business Inform 7:30–41.
https://doi.org/10.32983/2222-4459-2023-7-30-41

Section: Mechanisms of Regulation of the Economy

Article is written in Ukrainian
Downloads/views: 40

Download article (pdf) -

UDC 323.2(477)

Abstract:
The article is concerned with the conception of resilience, originated from ecological studies and then subsequently applied to social and economic systems. The aim of the study is to determine the contents of the concept of «resilience» and identify the key challenges of resilience with regard to the Ukrainian economy in the 21st century. The essence of the concepts of «resilience», «resilience of economy», existing approaches to their interpretation, difference from the concepts of «sustainability» and «stability» were studied; the key risks and shocks that posed the challenges in terms of resilience of the Ukrainian economy in the 21st century are identified and examined. It is defined that resilience in the economy means the ability of the system to recover and adapt after crisis, stressful situations. The concept of resilience differs from sustainability and stability, emphasizing the post-event adaptation of the system. Two approaches to understanding resilience have been defined: the first is focused on recovering the system to equilibrium after crisis events, and the second – on the constant adaptation to changes. Situations in Ukraine, such as the global financial crisis of 2008, russian aggression in 2014, the COVID-19 pandemic, and the russian invasion in 2022, have significantly affected the country’s economy and underlined the need to develop resilient mechanisms to ensure sustainability and recovery from shock events. The importance of understanding and researching the conception of resilience for the development of effective strategies for crisis management and creation of stable economic systems in changing conditions is substantiated. Implementation of experience and study of resilience factors of other countries that faced similar challenges after military conflicts can be useful for Ukraine to overcome the crisis, ensure stability and growth, as well as preserve the potential for further development after the cease of the war.

Keywords: resilience, sustainability, stability, adaptation, economic crisis, risks, shocks, military aggression, development potential, sectors of economy, industry.

Fig.: 2. Tabl.: 2. Bibl.: 45.

Khaustova Viktoriia Ye. – Doctor of Sciences (Economics), Professor, Director, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkiv, 61166, Ukraine)
Email: [email protected]
Reshetnyak Olena I. – Doctor of Sciences (Economics), Associate Professor, Head of, Sector of Industrial Policy and Innovative Development of the Department of Industrial Policy and Energy Security, Research Centre for Industrial Problems of Development of NAS of Ukraine (2 floor 1-a Inzhenernyi Ln., Kharkiv, 61166, Ukraine)
Email: [email protected]

List of references in article

Kokun, O. M., and Melnychuk, T. I. Rezyliiens-dovidnyk [Resilience Handbook]. Kyiv: Instytut psykholohii imeni H. S. Kostiuka NAPN Ukrainy, 2023.
Korolchuk, O. L. “Upravlinnia zminamy yak faktor rozbudovy natsionalnoi rezylientnosti v suchasnykh umovakh hlobalizatsiinykh vyklykiv“ [Change Management as a Factor in the Development of the National Resilience in the Contemporary Conditions of Globalization Challenges]. Vcheni zapysky TNU imeni V. I. Vernadskoho. Seriia «Derzhavne upravlinnia», vol. 31, no. 5 (2020): 88-92. DOI: https://doi.org/10.32838/TNU-2663-6468/2020.5/15
Cherevatskyi, D. Yu. “Rezylientnist ekonomiky ta ekonomika rezylientnosti“ [The Resilience of Economics and the Economics of Resilience]. Ekonomika promyslovosti, no. 1 (2023): 31-39. DOI: http://doi.org/10.15407/econindustry2023.01.031
Hollnagel, E. “Systemic Potentials for Resilient Performance“. In Resilience in a Digital Age: Global Challenges in Organisations and Society, 7-17. Springer International Publishing, 2022. DOI: https://doi.org/10.1007/978-3-030-85954-1_2
Resilience Engineering: Concepts and Precepts. Aldershot, UK: Ashgate, 2006.
Walker, B. “Resilience: what it is and is not“. Ecology and Society, art. 11, vol. 25, no. 2 (2020). DOI: https://doi.org/10.5751/ES-11647-250211
Holling, C. S. “Resilience and Stability of Ecological Systems“. Annual Review of Ecology and Systematics. 1973. https://pure.iiasa.ac.at/id/eprint/26/1/RP-73-003.pdf
Bristow, G., and Healy, A. “Regional Resilience: An Agency Perspective“. Regional Studies, vol. 48, no. 5 (2014): 923-935. DOI: https://doi.org/10.1080/00343404.2013.854879
Christopherson, S., Michie, J., and Tyler, P. “Regional resilience: theoretical and empirical perspectives“. Cambridge Journal of Regions, Economy and Society, vol. 3, no. 1 (2010): 3-10. DOI: https://doi.org/10.1093/cjres/rsq004
Fingleton, B., Garretsen, H., and Martin, R. “Recessionary Shocks and Regional Employment: Evidence on the Resilience of U. K. Regions“. Journal of Regional Science, vol. 52, no. 1 (2012): 109-133. DOI: https://doi.org/10.1111/j.1467-9787.2011.00755.x
Muller, B. “Urban and Regional Resilience - A New Catchword or a Consistent Concept for Research and Practice?“ In German Annual of Spatial Research and Policy, 1-13. Springer, 2010. DOI: 10.1007/978-3-642-12785-4_1
Wink, R. “Regional Economic Resilience: Policy Experiences and Issues in Europe“. Raumforschung und Raumordnung: Spatial Research and Planning, vol. 72, no. 2 (2014): 85-91. DOI: https://doi.org/10.1007/s13147-013-0265-4
Simmie, J. “Regional Economic Resilience: A Schumpeterian Perspective“. Raumforschung und Raumordnung: Spatial Research and Planning, vol. 72, no. 2 (2014): 103-116. DOI: https://doi.org/10.1007/s13147-014-0274-y
Walker, J., and Cooper, M. “Genealogies of resilience: From systems ecology to the political economy of crisis adaptation“. Security Dialogue, vol. 42, no. 2 (2011): 143-160. DOI: https://doi.org/10.1177/09670106113996
Tinch, R. Resilience and Resource Management under Risk. School of Environmental Science, University of East Anglia, Norwich, 1998.
Perrings, Ch. “Resilience and Sustainability Development“. Environment and Development Economics, vol. 11, no. 4 (2006): 417-427. DOI: https://doi.org/10.1017/S1355770X06003020
Tierney, K. “Impacts of Recent U. S. Disasters on Businesses: The 1993 Midwest Floods and the 1994 Northridge Earthquake“. In Economic Consequences of Earthquakes: Preparing for the Unexpected. National Center for Earthquake Engineering Research. Buffalo, NY, 1997.
Jonas, A. E. G. “Region and Place: Regionalism in Question“. Progress in Human Geography, vol. 36, no. 2 (2012): 263-272. DOI: https://doi.org/10.1177/03091325103941
MacLeman, H., Miller, A. M., and Marty, L. “Resilience Systems Analysis: Learning and recommendations report“. OECD, Sida. Paris : OECD Publishing, 2017. https://www.oecd.org/dac/conflict-fragility-resilience/docs/SwedenLearning_Recommendationsreport.pdf
A systemic resilience approach to dealing with COVID-19 and future shocks. OECD, 2020. DOI: 10.1787/36a5bdfb-en
Bristow, G., and Healy, A. “Innovation and regional economic resilience: an exploratory analysis“. The Annals of Regional Science, vol. 60, no. 5 (2017): 265-284. DOI: https://doi.org/10.1007/s00168-017-0841-6
MacKinnon, D., and Derickson, K. D. “From Resilience to Resourcefulness: A Critique of Resilience Policy and Activism“. Progress in Human Geography, vol. 37, no. 2 (2013): 53-70. DOI: https://doi.org/10.1177/03091325124547
De Verteuil, G., and Golubchikov, O. “Can resilience be redeemed?“ City, vol. 20, no. 1 (2016): 143-151. DOI: https://doi.org/10.1080/13604813.2015.1125714
Hallegatte, S. “Economic Resilience: Definition and Measurement“. Policy Research Working Paper. World Bank, no. 6852 (2016). DOI: https://doi.org/10.1596/1813-9450-6852
Rutter, M. “Resilience in the face of adversity: Protective factors and resistance to psychiatric disorder“. The British Journal of Psychiatry, vol. 147 (1985): 598-611. DOI: https://doi.org/10.1192/bjp.147.6.598
Werner, E. “Risk, resilience, and recovery: Perspectives from the Kauai Longitudinal Study“. Development and Psychopathology, vol. 5, no. 4 (1993): 503-515. DOI: https://doi.org/10.1017/S095457940000612X
Bonanno, G. A. “Loss, Trauma, and Human Resilience: Have We Underestimated the Human Capacity to Thrive After Extremely Adverse Events?“ American Psychologist, vol. 59, no. 1 (2004): 20-28. DOI: https://doi.org/10.1037/0003-066X.59.1.20
Henderson, N. “Havens of Resilience“. Educational Leadership. 2013. https://www.ascd.org/el/articles/havens-of-resilience
Sutton, J. “What is Resilience, and Why is It Important to Bounce Back?“ https://positivepsychology.com/what-is-resilience/
“Guidelines for resilience systems analysis: How to analyse risk and build a roadmap to resilience“. OECD Publishing, 2014. https://www.oecd.org/dac/Resilience%20Systems%20Analysis%20FINAL.pdf
“World Development Indicators“. World Bank. https://databank.worldbank.org/source/world-development-indicators
Khaustova, V. Ye. et al. “Intehralna otsinka osvitnyoi, naukovoi i innovatsiinoi diialnosti ta doslidzhennia yikh vplyvu na ekonomichnyi rozvytok Ukrainy“ [Integral Assessment of Educational, Scientific and Innovative Activities and Research of Their Impact on the Economic Development of Ukraine]. Biznes Inform, no. 12 (2021): 114-123. DOI: https://doi.org/10.32983/2222-4459-2021-12-114-123
Reshetniak, O. I., and Lobodin, R. O. “Klastery v innovatsiinii ekonomitsi: modeli potriinoi, chotyrylankovoi ta piatylankovoi spirali“ [Clusters in Innovation: Triple Helix, Quadruple Helix and Quintuple Helix Models]. Visnyk ONU imeni I. I. Mechnykova. Sektsiia «Ekonomika», vol. 25, no. 6 (2020): 69-74. DOI: https://doi.org/10.32782/2304-0920/6-85-13
“Cost to Ukraine of Conflict with Russia. A Cebr report“. London, 2022. https://cebr.com/wp-content/uploads/2022/02/Cost-to-Ukraine-of-Conflict-with-Russia-a-Cebr-report-February-2022.pdf
Boiar, A., and Makhnovets, K. “Vplyv hlobalnoi pandemii na svitovu ta vitchyznianu ekonomiku“ [The Impact of the Global Pandemic on the World and Domestic Economy]. Mizhnarodni vidnosyny, suspilni komunikatsii ta rehionalni studii, no. 2 (2021): 177-188. DOI: https://doi.org/10.29038/2524-2679-2021-02-177-188
Kyzym, M. O., Khaustova, V. Ye., and Reshetniak, O. I. “Sutnist i metodychni pidkhody do otsinky ekonomichnoho potentsialu krain svitu yak osnovy formuvannia yikh voiennoi mohutnosti“ [The Essence of and the Methodical Approaches to Assessing the World Countries' Economic Potential as the Basis for the Formation of Their Military Power]. Biznes Inform, no. 12 (2022): 17-28. DOI: https://doi.org/10.32983/2222-4459-2022-12-17-28
“Ukraine. Rapid Damage and Needs Assessment. February 2022 - February 2023“. World Bank, the Government of Ukraine, the European Union, the United Nations, 2023. https://documents1.worldbank.org/curated/en/099184503212328877/pdf/P1801740d1177f03c0ab180057556615497.pdf
“Transition report 2022-23: Business Unusual“. European Bank for Reconstruction and Development. https://2022.tr-ebrd.com
“Maddison Historical Statistics. Maddison Project Database“. https://www.rug.nl/ggdc/historicaldevelopment/maddison/
Adaptatsiinyi potentsial zabezpechennia stiikoho funktsionuvannia realnoho sektora ekonomiky Ukrainy v umovakh hlobalnoi nestabilnosti [The Adaptation Potential of Ensuring Sustainable Functioning of the Real Sector of the Economy of Ukraine in Conditions of Global Instability]. Kharkiv: FOP Liburkina L. M., 2021.
Khaustova, V. Ye. Promyslova polityka v Ukraini: formuvannia ta prohnozuvannia [Industrial Policy in Ukraine: Formation and Forecasting]. Kharkiv: VD «INZhEK», 2015.
Gryshova, I. et al. “Assessment of the Industrial Structure and Its Influence on Sustainable Economic Development and Quality of Life of the Population of Different World Countries“. Sustainability, art. 2072, vol. 12, no. 5 (2020). DOI: https://doi.org/10.3390/su12052072
Koczan, Z., and Chupilkin, M. “The economics of post-war recoveries and reconstructions“. Vox EU. November 22, 2022. https://cepr.org/voxeu/columns/economics-post-war-recoveries-and-reconstructions
“Zvit pro finansovu stabilnist“ [Report on Financial Stability]. Natsionalnyi bank Ukrainy. https://bank.gov.ua/ua/stability/report
“Informatsiia Ministerstva finansiv Ukrainy pro vykonannia Derzhavnoho biudzhetu Ukrainy za 2022 r.“ [Information from the Ministry of Finance of Ukraine on the Implementation of the State Budget of Ukraine for 2022]. https://mof.gov.ua/uk/budget_2022-538

FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

INFORMATION

The Plan of Scientific Conferences

OUR PARTNERS

Journal «The Problems of Economy»

The site and its metadata are licensed under CC BY-SA.

Write to webmaster