Transformational Change: Challenges and Development Prospects. The Case of Ukraine

Abstract

Background: The basic system transformation approaches can be described by definition of the main and decisive factors of transformational change. Research objectives: The aim of the study is to estimate how the GDP in Ukraine depends on the degree of economic, political, social transformation, as well as the overall indicators (market and democratic) reforms. Research design and methods: The source of information is the World Bank database, Heritage Foundation, and national statistics. The research methods include descriptive analysis, economic and statistical methods, and correlation analysis. Results: The study results identify factors which positively impacts the formation of new and renewed institutions and contribute to a more balanced political, social and economic growth. Conclusions: Development vector designation allows formulating a state development strategy by estimating the factors that might lead to a more sustainable strategy of political and social-economic development.

Keywords

• transformation
• political and social-economic development
• correlation analysis