Baltic Journal of Economic Studies (May 2023)
WELFARE OF THE UKRAINIAN POPULATION: ASSESSMENT OF THE LEVEL AND IMPACT OF KEY FACTORS
Abstract
The purpose of this article is to identify the problems that limit the growth of welfare in Ukraine and to provide quantitative estimates of the impact of key factors that influence its level and development trend, taking into account the proposed three-level approach to determining the components of human welfare. Methodology. In order to assess the level and dynamics of changes in the well-being of the Ukrainian population, methods of statistical information analysis, results of sociological surveys and econometric modeling were used. Results. Based on the generalization of theoretical concepts of formation and methods of assessing welfare, the article presents the author's three-level approach to determining the components of human welfare, which includes: the basic or material level, the medium or psychological-emotional level, as well as the higher or spiritual level. Estimates of the pre-war level of welfare of Ukrainians are presented based on the analysis of the results of implementing the task of reducing poverty in Ukraine within the framework of achieving the Sustainable Development Goals (SDG1 – No poverty) as important landmarks on the road to European integration. The results of regression analysis and quantitative assessments of the impact of the key macroeconomic indicators (consumer price inflation, unemployment rate, foreign debt), as well as the indicator of crisis phenomena on the welfare of Ukrainians at different time intervals confirmed the importance of the selected factors explaining the trend of changes in the well-being of the population. The article reflects the negative impact of external factors on the welfare of Ukrainians, namely Covid-19 and Russia's military aggression. The results of sociological surveys are presented, confirming the negative effects of the pandemic and the terrible consequences of the military invasion of Ukraine; showing the losses that will have a long-term impact on various aspects of the lives of Ukrainians. The importance of humanitarian and charitable international assistance to Ukraine was emphasized. Practical value. An extended interpretation of the structure of the concept of well-being allows to consider in practice a wide range of factors that determine it, as well as its quantitative assessments, which are necessary for the justification of policy measures aimed at restoring the level of well-being of Ukrainians as a result of COVID-19 and military aggression, as well as increasing their welfare in the post-war period.
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