ABSTRACT
Today, the issue of ensuring the sustainable development of socio-economic systems is more relevant than ever. The study used an interdisciplinary approach. Based on this approach, it is proposed to interpret the stability and sustainable development of the socio-economic system in the context of global instability as its ability to recover and reorient itself after the impact of external global shocks and challenges due to adaptive internal drivers. The practical implementation of the author's methodological approach to assessing the sustainability and sustainable development of the socio-economic system on the basis of a retrospective section reveals that the most negative impact of the global financial and economic crisis and hostilities was in the context of actual GDP per capita. decline over the past 15 years. The article highlights the main factors for reducing the stability and sustainable development of the socioeconomic system in the context of the shock of the COVID-19 pandemic. The study has its limitations, as it was carried out to a greater extent in the context of the realities and indicators of Ukraine. Similar analyzes are planned for other countries in the future. © 2023 WITPress. All rights reserved.
ABSTRACT
The goal of the present article is to provide a comprehensive study of the effect of the COVID-19 pandemic and quarantine restrictions on the business development and socio-economic dynamics in Ukraine. The key hypotheses of the research: 1) the COVID-19 pandemic and quarantine restrictions reduce the pace of macroeconomic development in Ukraine, this being manifested in the decrease in GDP, the scope of export-import operations as well as decline in industrial production;2) reduced pace of macroeconomic development causes: 2.1) reduced economic mobility of economic entities;2.2) negative social consequences manifested in reduced real income of residents, unemployment growth. The effect of specific factors of macroeconomic development and economic mobility of business entities on the unemployment rate increase in Ukraine has been shown through the correlation and regression analysis. Findings: Quarantine restrictions applied for the sake of slowing down the speed of the pandemic spread have acted as a factor causing decrease in GDP, scope of export-import operations as well as decline in the industrial production in Ukraine. It has been established that reduction of the pace of macroeconomic development in the background of unprecedented restrictive measures has caused economic imbalances in the country, manifested in inflation fluctuations and increase in the prices of foodstuffs and industrial goods, reduced business activity of business entities, decline in the commodity turnover volume, reduced business profitability. It is stressed that in the conditions of poor control over the processes of disease spread and uncertainty in the timeline of the pandemic the efficiency of the business activity stimulation in Ukraine can be ensured via consideration of the effects of behavioural economics as well as direction of the limited financial resources into the fields of the country's economy that can ensure its smart specialization and/or are building their capacity even under pandemic conditions.