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REQUIEM for DONBAS Three Essays on the Costs of War in Ukraine
JOHANNES KEPLER UNIVERSITY LINZ Altenberger Str. 69 4040 Linz, Austria www.jku.at, DVR 0093696 REQUIEM FOR DONBAS Three Essays on the Costs of War in Ukraine By Artem Kochnev A Doctoral Thesis submitted at Department of Economics to obtain the academic degree of Doctor of Philosophy in the Doctoral Program “PhD Program in Economics” Supervisor and First Examiner Second Examiner em. Univ-Prof. Dr. Michael Landesmann Dr. habil. rer. soc. oec. Robert Stehrer May 2020 Abstract The thesis investigates short- and long-term effects of war on the economy of Ukraine. Specifically, it discusses the impact of separatists’ control and subsequent adverse trade policies on the real economy, responses of stock market investors to battle events, and the effect of conflict intensity on reform progress and institutional change in Ukraine. The thesis finds that the impact of war on the economy is most pronounced on the real economy of the war-torn regions. Whereas separatists’ control caused a decline in economic activity by at least 38%, the thesis does not find evidence supporting that the impact of conflict intensity on asset prices and institutional change in Ukraine was linear in parameters. The thesis explains the lack of the linear relationship between asset price move- ments and conflict intensity by investors’ inattention caused by information overload during the early stages of the conflict. Regarding the possible relationship between con- flict and institutional change, the thesis argues that it was electoral competition, not the conflict dynamics, that had an impact on the decision-making process of the policymak- ers in Ukraine. -
Reforms in Ukraine After Revolution of Dignity
REFORMS IN UKRAINE AFTER REVOLUTION OF DIGNITY What was done, why not more and what to do next This publicaon was produced with financial Responsibility for the informaon and views set out assistance from the EBRD-Ukraine Stabilisaon and in this publicaon lies enrely with the authors. The Sustainable Growth Mul-Donor Account, the EBRD makes no representaon or warranty, express donors of which are Denmark, Finland, France, or implied, as to the accuracy or completeness of the Germany, Italy, Japan, the Netherlands, Norway, informaon set forth in the publicaon. The EBRD Poland, Sweden, Switzerland, the United Kingdom, has not independently verified any of the informaon the United States of America and the European contained in the publicaon and the EBRD accepts Union, the largest donor. The views expressed herein no liability whatsoever for any of the informaon can in no way be taken to reflect the official opinion contained in the publicaon or for any misstatement of the EBRD or any donor of the account. or omission therein. The publicaon remains the property of the EBRD. REFORMS IN UKRAINE AFTER REVOLUTION OF DIGNITY What was done, why not more and what to do next Editors Ivan Miklos Pavlo Kukhta Contents Foreword 4 Introducon What was done, why not more and what to do next: Ukrainian reforms aer the Revoluon of Dignity 7 Chapter 1 Polical economy of reforms: polical system, governance and corrupon 10 Chapter 2 Macroeconomic policies 35 Chapter 3 Rule of law 48 Chapter 4 Energy policy 75 Chapter 5 Business environment 87 Chapter 6 Land reform 101 Chapter 7 Privasaon and SOE reform 112 Chapter 8 Healthcare reform 132 Chapter 9 Ukraine and the European Union 144 Annex 1 Report on reforms in 2016-17 162 Annex 2 The role of the government and MPs in reform implementaon in Ukraine 167 About SAGSUR (Strategic Advisory Group for Support of Ukrainian Reforms) 173 Glossary of terms 174 Foreword Foreword | 4 Foreword Maeo Patrone and Peter M. -
Current Issues of Military Spec
CURRENT ISSUES OF MILITARY SPECIALISTS TRAINING IN THE SECURITY AND DEFENCE SECTOR UNDER CONDITIONS OF HYBRID THREATS Instytut Bezpieczeństwa i Rozwoju Międzynarodowego Boguslaw Pacek, Hennadii Pievtsov, Anatolii Syrotenko CURRENT ISSUES OF MILITARY SPECIALISTS TRAINING IN THE SECURITY AND DEFENCE SECTOR UNDER CONDITIONS OF HYBRID THREATS Warsaw 2021 Reviewer Prof. dr hab. Andrzej Glen Scientific editors: Boguslaw Pacek – Jagiellonian University in Krakow, Poland Hennadii Pievtsov – Ivan Kozhedub Kharkiv National Air Force University, Ukraine Anatolii Syrotenko – National Defence University of Ukraine named after Ivan Cherniakhovskyi, Ukraine Language editing and proofreading Foreign Languages Scientific and Research Centre of National Defence University of Ukraine named after Ivan Cherniakhovskyi Computer typing Valeriya Kirvas © Copyright by Instytut Bezpieczeństwa i Rozwoju Międzynarodowego, 2021 ISBN 978-83-66676-10-7 Wydawnictwo Instytutu Bezpieczeństwa i Rozwoju Międzynarodowego https://instytutbirm.pl 1st Edition CONTENTS Preface ............................................................................................... 10 Military Scientific Aspects of Counteracting Hybrid Aggression: the Experience of Ukraine Victor Bocharnikov, Sergey Sveshnikov Systemic features of military-political situation in Ukraine during 2012-2018 ............................................................ 14 Volodymyr Bohdanovych, Oleksandr Dublian, Oleksandr Peredrii, Valerii Dobrohurskyi Comprehensive model of counteracting hybrid aggression process -
Impact of Political Course Shift in Ukraine on Stock Returns
IMPACT OF POLITICAL COURSE SHIFT IN UKRAINE ON STOCK RETURNS by Oleksii Marchenko A thesis submitted in partial fulfillment of the requirements for the degree of MA in Economic Analysis Kyiv School of Economics 2014 Thesis Supervisor: Professor Tom Coupé Approved by ___________________________________________________ Head of the KSE Defense Committee, Professor Irwin Collier __________________________________________________ __________________________________________________ __________________________________________________ Date ___________________________________ Kyiv School of Economics Abstract IMPACT OF POLITICAL COURSE SHIFT IN UKRAINE ON STOCK RETURNS by Oleksii Marchenko Thesis Supervisor: Professor Tom Coupé Since achieving its independence from the Soviet Union, Ukraine has faced the problem which regional block to integrate in. In this paper an event study is used to investigate investors` expectations about winners and losers from two possible integration options: the Free Trade Agreement as a part of the Association Agreement with the European Union and the Custom Union of Russia, Belarus and Kazakhstan. The impact of these two sudden shifts in the political course on stock returns is analyzed to determine the companies which benefit from each integration decisions. No statistically significant impact on stock returns could be detected. However, our findings suggest a large positive reaction of companies` stock prices to the dismissal of Yanukovych regime regardless of company`s trade orientation and political affiliation. -
Office of the United Nations High Commissioner for Human Rights
Office of the United Nations High Commissioner for Human Rights Report on the human rights situation in Ukraine 15 April 2014 TABLE OF CONTENTS Page I. EXECUTIVE SUMMARY …………………………………………………. 3 I. INTRODUCTION ……………………………………………………. 6 A. Context B. Universal and regional human rights instruments ratified by Ukraine C. UN human rights response D. Methodology III. UNDERLYING HUMAN RIGHTS VIOLATIONS ……………………… … 10 A. Corruption and violations of economic and social rights B. Lack of accountability for human rights violations and weak rule of law institutions IV. HUMAN RIGHTS VIOLATIONS RELATED TO THE MAIDAN PROTESTS ……………………………………………………… 13 A. Violations of the right to freedom of assembly B. Excessive use of force, killings, disappearances, torture and ill-treatment C. Accountability and national investigations V. CURRENT OVERALL HUMAN RIGHTS CHALLENGES ……………… 15 A. Protection of minority rights B. Freedom of expression, peaceful assembly and the right to information C. Incitement to hatred, discrimination or violence D. Lustration, judicial and security sector reforms VI. SPECIFIC HUMAN RIGHTS CHALLENGES IN CRIMEA …………….. 20 VII. CONCLUSIONS AND RECOMMENDATIONS ………………………….. 22 A. Conclusions B. Recommendations for immediate action C. Long-term recommendations Annex I: Concept Note for the deployment of the UN human rights monitoring mission in Ukraine 2 | P a g e I. EXECUTIVE SUMMARY 1. During March 2014 ASG Ivan Šimonović visited Ukraine twice, and travelled to Bakhchisaray, Kyiv, Kharkiv, Lviv, Sevastopol and Simferopol, where he met with national and local authorities, Ombudspersons, civil society and other representatives, and victims of alleged human rights abuses. This report is based on his findings, also drawing on the work of the newly established United Nations Human Rights Monitoring Mission in Ukraine (HRMMU). -
Donbas Tailings Storage Facilities
DONBAS TAILINGS STORAGE FACILITIES Ministry of Energy and Environmental Protection of Ukraine AUTHORS: Iryna Nikolaieva – PhD, Head of a Research Group for Current State of Tailings Storage Facilities (TSFs), Environmental Safety Expert, Leading Environmental Auditor Hanna Lenko – Environmental Engineering Expert, Environmental Auditor Oleksandr Lobodzinskyi – Junior Researcher, Hydrologist, Ukrainian Hydrometeorological Institute of the State Emergency Service of Ukraine and the National Academy of Sciences of Ukraine We would like to thank Dr. Serhii Chumachenko for the significant contribution at the first stage of the project The work was completed under the OSCE Project Co-ordinator in Ukraine project “Assistance in the Donbas Environmental Monitoring System Expansion”, hereinafter (“the Project”) in partnership with the Ministry of Energy and Environmental Protection of Ukraine and with assistance of Donetsk Regional State Administration, Siverskyi Donetsk Basin Water Administration, OSCE Special Monitoring Mission to Ukraine, and the management of the “Metinvest” group of companies and Public Company “Dzerzhynska Processing Plant”. The Project expresses gratitude for the high level of communication, professional support and fruitful cooperation to the representatives of TSF operators: Metinvest Holding LLC: Vladyslav Varnavskyi, Head of the Environmental Protection Department PJSC “Avdiivka Coke Plant”: Denys Kaduk, Director on Labor Protection, Industrial Safety and Environment; Vasylii Kyrbaba, Head of the environmental Protection Department; Oksana Drobot, Lead Environmental Engineer; Yuliia Minenko, Press office Representative SMA “Inkor and Co” LLC: Volodymyr Hridiaiev, Head of the Department on Labor Protection, Industrial Safety and Environment; Olha Brizan, Chief Environmental Specialist – Head of the Environmental Protection Laboratory; Yuliia Besida, Engineer of the Environmental Protection Laboratory Public Company “Dzerzhynska Processing Plant”: Olena Semeniak, Deputy Director on Labor Protection. -
Weeklyoverview
UKRAINIAN EQUITY MARKET:: WEEKLY OVERVIEW Parex Asset Management 5–6 JANUARY 2010 Republikas laukums 2a, Riga, Latvia, LV-1522 Lidiya Mudra, Financial Analyst Tel. 371 67010810 Fax. 371 67778622 http://www.parexgroup.com Email: [email protected] Equity Market The Ukrainian major exchanges started the year on a PFTS Index positive note, with PFTS index gaining 3.82% and UX 700 adding 5.09% during holiday-shortened trading week. PFTS In the metallurgical sector, the Financial Times has last week: informed that an unnamed Russian group is close to 650 buying control of the Ukrainian metallurgical +3.82% corporation Industrial Union of Donbas (IUD). According to FT, the “50%+2 shares” stake in the IUD 600 might be sold by the end of January for up to $2b. 06-Jan-10: Later in the week, Oleksandr Pilipenko, a vice 594.80 550 president within the IUD group, revealed in a Oct Nov Dec Jan statement that one of its new owners is Swiss-based steel trader Carbofer, itself co-owned by Russian below.) businessman Alexander Katunin. At the same time, In the agricultural sector, Ukraine's leading sugar PFTS index gained he did not name the others Mr. Katunin’s partners, producer Astarta Holding released 2009 operational 3.82% and UX revealing only that “none of the new owners would results. In 2009, Astarta produced more than 225ths added 5.09% during have more than a 20% stake”. There were given no tonnes of sugar (-4.5% y/y) that allowed the company the week figures for the value of the deal in the statement. -
Analysis of the Stock Market Anomalies in the Context of Changing the Information Paradigm
EASTERN JOURNAL OF EUROPEAN STUDIES Volume 10, Issue 1, June 2019 | 239 Analysis of the stock market anomalies in the context of changing the information paradigm Kostyantyn MALYSHENKO*, Vadim MALYSHENKO**, Elena Yu. PONOMAREVA***, Marina ANASHKINA**** Abstract The present paper describes the results of a comprehensive research in the information efficiency of the Ukrainian stock market in the context of a financial paradigm transformation which causes a need to modify the EMH (efficient market hypothesis). The aim of the research is to identify the market inefficiencies (anomalies) that occur in the market and contradict the EMH provisions. The database used for the research is from both the world and the Ukrainian stock markets (from 2008 to 2013). Besides, the authors compiled their own event database on Ukrainian mass media data with clear formalization of the event evaluation, which excludes any judgmental approach. Both the standard statistical procedures and the authors’ event analysis become the instruments for the analysis. To randomize the research, an event date was shifted by 1-5 days with the reference to the emissions by the moving average method. The research becomes the basis for a new information paradigm, and the fourth form of information efficiency was justified. These changes underlaid the evaluation methodology for the arisen anomalies being the result of explicit or implicit collusion at the stock market of Ukraine. Keywords: anomalies of the stock market, information efficiency, event analysis, efficient market hypothesis (EMH), fractal market hypothesis (FMH), coherent market hypothesis (CMH) * Kostyantyn MALYSHENKO is Senior Researcher at the National Research Institute for Vine and Wine Magarach; e-mail: [email protected]. -
THEMATIC REPORT SMM Facilitation and Monitoring of Infrastructure
- 1 - THEMATIC REPORT SMM facilitation and monitoring of infrastructure repair in eastern Ukraine January 2017 – August 2018 December 2018 15362/18mf Published by the OSCE Special Monitoring Mission to Ukraine © OSCE Special Monitoring Mission to Ukraine 2018 All rights reserved. The contents of this publication may be freely used and copied for non-commercial purposes, provided that any such reproduction is accompanied by an acknowledgement of the OSCE Special Monitoring Mission to Ukraine as the source. Available electronically in English, Ukrainian and Russian at: http://www.osce.org/ukraine-smm Table of Contents Summary: Infrastructure in context ...................................................................................................... - 1 - Political framework for facilitation of infrastructure repair ............................................................... - 2 - Working Group on Security Issues (WGSI) .................................................................................... - 2 - Joint Centre for Control and Co-ordination (JCCC) ..................................................................... - 3 - SMM support for infrastructure maintenance and repair in eastern Ukraine ..................................... - 3 - Overall SMM operational contributions ........................................................................................ - 3 - Water supply in Donetsk region ..................................................................................................... - 5 - Electricity supply -
Avdiivka Coke Restores Power Supply and Resumes Normal Operations
10 авг 2015 Avdiivka Coke restores power supply and resumes normal operations Avdiivka Coke Plant has completed most of the work to restore its operations after being shelling on August 4. The enterprise has returned to its planned level in terms of production volume. Employees from DTEK and Avdiivka Coke restored the plant’s high-voltage power lines, stabilizing power supplies to the plant. Seven coke batteries are now operating and one is being repaired. The plant is producing 6,900 tons of bulk coke per day. Avdiivka Coke also re-established railway links to receive raw materials and dispatch finished goods. One of the restored power lines was damaged again last weekend after being shelled by artillery; specialists are engaged in restoration work now. Repairs to other facilities at the plant are also underway. Despite being regularly shelled, several projects related to the modernization of production facilities are being implemented at Avdiivka Coke. Most of the larger-scale projects are related to environmental protection. One of these projects involves the construction of a catalytic afterburner unit that will clean up to 99% of outgoing gases from the Coke and Pitch Shop. Another project involves the assembly of filters for aspiration units at Coke Shop #1. Avdiivka Coke is also helping to rebuild the city of Avdiivka. It has assisted with repairs to three apartment buildings, two kindergartens and two general education schools, three cultural facilities and the city’s central hospital. It has also given more than 50 families free-of-charge construction materials to repair their private houses themselves. -
Financing Technology Entrepreneurs & Smes in Developing Countries: Challenges and Opportunities
+ innovation & entrepreneurship FINANCING TECHNOLOGY ENTREPRENEURS & SMES IN DEVELOPING COUNTRIES: CHALLENGES AND OPPORTUNITIES FINANCING TECHNOLOGY ENTREPRENEURS & SMES IN DEVELOPING COUNTRIES: CHALLENGES AND UKRAINE OPPORTUNITIES Country Study AN infoDev PUBLICATION PREPARED BY Roberto Zavatta Economisti Associati SRL in collaboration with Zernike Group BV Meta Group SRL June 2008 Information for Development Program www.infoDev.org www.infoDev.org FINANCING TECHNOLOGY ENTREPRENEURS & SMES IN DEVELOPING COUNTRIES: CHALLENGES AND UKRAINE OPPORTUNITIES Country Study AN infoDev PUBLICATION PREPARED BY Roberto Zavatta Economisti Associati SRL in collaboration with Zernike Group BV Meta Group SRL June 2008 Information for Development Program www.infoDev.org ©2008 The International Bank for Reconstruction and Development/ The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org E-mail: [email protected] All rights reserved The findings, interpretations and conclusions expressed herein are entirely those of the author(s) and do not necessarily reflect the view of infoDev, the Donors of infoDev, the International Bank for Reconstruction and Development/The World Bank and its affiliated organizations, the Board of Executive Directors of the World Bank or the governments they represent. The World Bank cannot guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply on the part of the World Bank any judgment of the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. -
THE INSTITUTIONAL FRAMEWORK: PFTS and UKRSE Finance
Ya. V. Khomenko, K. A. Nesterenko, A. V. Bodnar Finance UDC 336.76(477)„1995/2011”-047.37 Ya. V. Khomenko, Dr. Hab (Economics) K. A. Nesterenko, A. V. Bodnar, Students majoring, Donetsk National Technical University THE INSTITUTIONAL FRAMEWORK: PFTS AND UKRSE In Ukraine today the stock market is a major source the average performance of a national market” [5]. Taking of funding for corporations. By its very nature it is a into account all these views it gets relevant to make asset mechanism to accumulate temporarily free funds from allocation decisions and stock market performance the population and business structures, allocate them to measurements on the bases of the stock indexes analysis. productive purposes and to ensure, therefore, the flexible In view of the abovementioned this paper is to flow of the capital among the sectors of the economy. answer the questions: how has the institutional framework The more reliable, sustainable and effective this of PFTS and UKRSE changed during the last ten years, mechanism is, the more likely it is to attract the necessary what problems does it have, and what has to be done to capital. solve these problems? This issue is approached by With the globalization the stock market becomes analyzing the evolution of institutional framework of PFTS more far-reaching. Prospective investors are more and UKRSE, the Ukrainian stock market’s 10-year interested in new areas for capital investment outside their development, by viewing and comparing with changes country. As Templeton maintains, „In London and New in the institutional framework. The database for research York share prices get out of line in value, but in other comprises the Law of Ukraine „On Securities and Stock places they get even further out of line.