DOCSLIB.ORG

FOREIGN POLICY of UKRAINE 2008 STRATEGIC ASSESSMENTS, FORECASTS and PRIORITIES Annual Strategic Review

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
FOREIGN POLICY of UKRAINE 2008 STRATEGIC ASSESSMENTS, FORECASTS and PRIORITIES Annual Strategic Review Yearbook_2008_Engl.qxd 14.06.2009 23:26 Page 1 FOREIGN POLICY OF UKRAINE 2008 STRATEGIC ASSESSMENTS, FORECASTS AND PRIORITIES Annual Strategic Review Edited by Professor G.M. Perepelytsia Kyiv Stylos Publishing House 2009 Yearbook_2008_Engl.qxd 14.06.2009 23:26 Page 2 Published with support of the International Foundation «European Development» and the General Directorate of Kyiv City Council for Servicing Foreign Representative Offices Assessments presented in this Annual Strategic Review are those of the authors and reflect exclusively authors’ opinion on the events of international life and foreign policy of Ukraine. The group of authors certifies the gratitude to the political department and other departments of the Ministry for Foreign Affairs of Ukraine for the given information materials. Foreign policy of Ukraine – 2008: Strategic Assessments, Forecasts and Priorities / Edited by G.M. Perepelytsia. – Кyiv: Stylos Publishing House, 2009. – 312 p. ISBN 9789661930185 The Annual Strategic Review of the Foreign Policy Research Institute does not represent the official position of the Ministry of Foreign Affairs of Ukraine (MFAU), although it has been written on the basis of MFAU information mate rials. The goal of this publication is to provide comprehensive analysis of Ukraine’s foreign policy, describe key trends inherent to Ukrainian foreign pol icy over the last year and forecast options for their further development, as well as spell out the priority areas for the implementation of the foreignpolicy course of Ukraine. This Annual Strategic Review is aimed at encouraging politicians and the scientific community of Ukraine to engage into discussion and seek the ways to resolve foreign policy problems and refine foreignpolicy course of Ukraine The Annual Strategic Review is intended for a wide range of Ukrainian and foreign experts, scientists, Ukrainian diplomats and Embassies, as well as for eign diplomatic missions and representative offices in Ukraine and readers interested in foreign policy issues and international relations. Printed by PC «Foliant», Kyiv © Foreing Policy Research Institute, 2009 © Stylos Publishing House, 2009 ISBN 9789661930185 Yearbook_2008_Engl.qxd 14.06.2009 23:26 Page 3 Table of contents Preface..................................................................5 B.I. Gumenyuk Foreword ..............................................................9 P.O. Kryvonos Chapter I. National and international context of Ukraine’s Foreign Policy ..............................11 § 1. Structural imperatives of foreign policy of Ukraine ......................................................13 V.A. Mangola § 2. Ukraine in a global world ....................................23 B.I. Humeniuk § 3. Trends of Ukraine’s Foreign Policy in 2008 ............43 O.V. Potyekhin, I.Y. Todorov §4. Ukraine in international economic cooperation........67 V.M. Movchan Chapter II. Security dimension of Ukraine’s Foreign Policy ..............................................95 § 1. Ukraine and new challenges of security..................97 G.M. Perepelytsia § 2. Energy security of Ukraine: running on the spot ......127 M.M. Gonchar § 3. Dialogue with NATO: what is in store after Bucharest summit? ..................................135 О.А. Paliy § 4. Ukraine in the international arms control regimes ........................................147 O.M. Nikonenko Yearbook_2008_Engl.qxd 14.06.2009 23:26 Page 4 Chapter III. Eurointegration course of Ukraine ..........163 § 1. European integration process and Ukraine............165 О.І. Shumylo § 2. State of economic relations UkraineEU in 2008 ....179 V.M. Movchan Chapter IV. Ukraine in bilateral international relations ....201 § 1. UkrainianRussian relations in the format of «Big Treaty» ..............................................203 G.M. Perepelytsia § 2. Bilateral relations of Ukraine with the leading European states ..............................................259 V.A. Mangola § 3. Ukraine’s relations with the United States of America and Canada......................................277 § 4. Ukraine’s relations with countries of Middle East, Asia, Africa, Latin America, and AsiaPacific region ....................................283 Afterword............................................................305 Annex. List of Multilateral International Documents signed by Ukraine in 2008 ........309 Information about authors ......................................311 Yearbook_2008_Engl.qxd 14.06.2009 23:26 Page 5 Preface The Annual Strategic Review «Foreign Policy of Ukraine – 2008: Strategic Assessments, Forecasts and Priorities» initiated by the Foreign Policy Research Institute of the Diplomatic Academy of Ukraine under the Ministry of Foreign Affairs of Ukraine, is aimed, primarily, at the domestic diplomatic corps, embassies of Ukraine abroad and embassies of foreign countries in Ukraine, as well as at international organizations and policy centers. Publication of the Annual Strategic Review «Foreign Policy of Ukraine: Strategic Assessments, Forecasts and Priorities» has already become traditional. It attracts great attention both of Ukrainian experts, diplomats, politicians and the broad interna tional community – everyone who is keen to know more about the present and the future prospects of Ukraine’s foreign policy. However, the present publication is different from the previous issues insofar as it also includes an indepth analysis of the unusu al international events and complex internal processes in the country that were taking place in 2008. The year 2008 became the next stage for Ukraine to position itself in the system of global international coordinates that define the place, role and influence of each country in the international community. Integration of Ukraine into this system of coordi nates of international relations is a complicated and contradictory process. The year 2008 was full of important and, sometimes, tragic events. However, it also brought certain achievements for Ukraine. Ukraine, due to its geographical location, developed trans portation system and energy infrastructure, plays an important role in international energy cooperation. In particular, Ukraine is Yearbook_2008_Engl.qxd 14.06.2009 23:26 Page 6 6 Foreign policy of Ukraine – 2008 an important link in providing the European consumer market with fuel and energy resources. In this context Ukraine takes all required measures aimed at integration into the European Energy Community. Negotiation process on Ukraine’s joining the Agreement on Creation of the Energy Community has been intensified. In particular, in 2008 three technical meetings were held (including the meetings within the framework of the Council of Ministers of the Energy Community) dedicated to Ukraine’s application on joining the Agreement on Creation of the Energy Community. The year 2008 was remarkable for Ukraine’s accession to the World Trade Organization. After Ukraine’s accession to the WTO (already having the status of WTO Member State) Ukraine began to hold consultations and negotiations with the European Free Trade Association (EFTA) regarding the conclusion of a Free Trade Agreement. Ukraine’s cooperation with international financial struc tures, in particular with the International Monetary Fund was quite successful. It was directed to acceleration of the processes of reforming the Ukrainian economy, encouraging the entrepreneur ial activity, introduction of new technologies into production. For the purpose of overcoming the negative influence of the world financial crisis upon financial and real sectors of Ukrainian econ omy the negotiations were carried on with the IMF Resident Representative Office in October – November 2008 on attraction of financial resources for stabilization of the situation at the Ukrainian financial market. In 2008 Ukraine finished its presidency of such an influential regional economic institution as an Organization of the Black Sea Economic Cooperation (BSEC). The period of Ukrainian halfyear presidency of the BSEC was an eventful one. These events were directed to realization of statutory tasks and reinforcement of the level of regional and international cooperation in economy and trade, banking sector, energy, transport, environmental protec tion, humanitarian and other sectors. The important tasks of Ukraine’s foreign policy in 2008 were defined the wide international recognition of the tragedy of Holodomor in 1932–1933 and formation of the country’s positive international image. The President’s initiative on conducting of international campaign for recognition of Holodomor the geno Yearbook_2008_Engl.qxd 14.06.2009 23:26 Page 7 Preface 7 cide of Ukrainian people carried out first of all by the diplomatic service was evaluated quite positively in general. As for the bilateral level, relations with Poland and the USA were the most successful ones. Relations between Ukraine and the USA were the model ones in the context of mutually beneficial, practical and multilevel cooperation. Their determinative compo nent was a political dialogue which was the most active in 2008 over the whole history of bilateral relations. The President George Bush visited Ukraine with a state visit, and the President of Ukraine Victor Yushchenko visited the United States of America with work ing visits twice. In the frames of the visit of the President of the USA the «road map» of bilateral cooperation priorities was signed in which the strategic format of relations was confirmed, the direc tions of cooperation were
Load more

Recommended publications
  • 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.
    [Show full text]
  • 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.
    [Show full text]
  • 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.
    [Show full text]
  • Weekly Market Monitor April 27, 2020
    Weekly Market Monitor April 27, 2020 Stock Market Update STOCK MARKET PERFORMANCE Equity PFTS Index MSCI Emerging Markets Index* 600 Ukrainian equities listed in Kyiv came under pressure last week after 550 official data showed a 7.7% YoY contraction in industrial output in the country in March. The machinery and metallurgical sectors had the 500 worst performance, dropping by 17% and 16% respectively, which 450 was balanced by a jump of 22% YoY in pharmaceutical production. 400 Retail sales increased by 6.1% YoY last month, but this rise was down 350 sharply from 15% YoY growth seen in February. Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 * rebased Quotes for CentrEnergo (CEEN) and DonbasEnergo (DOEN) fell by 4.0% and 3.7% respectively, with the former closing at UAH 7.20 MARKET INDEXES after the Energy Ministry estimated that household debt for Last 1W ch YTD electricity stands at UAH 4.7bn. Rising non-payments amid the PFTS 501 -0.1% -1.8% RTS 1081 1.2% -30.2% COVID quarantine could cause a systematic crisis in the Ukrainian WIG20 1602 -2.3% -25.4% energy sector. The country’s largest coal mine has already been MSCI EM 879 -2.2% -21.1% forced to suspend extraction as thermal power stations stopped their S&P 500 2836 0.5% -12.2% purchases. UkrNafta (UNAF) continued to suffer as result of the global turmoil PFTS 1M PERFORMANCE on the crude oil market. The UNAF share price dropped by 7.0% 515 to UAH 120, while Raiffeisen Bank Aval (BAVL) was flat at 33.00 Close as of 17-Apr-2020, 501 kopecks.
    [Show full text]
  • Voluntary Private Pensions in Ukraine: Assessment and Recommendations
    VOLUNTARY PRIVATE PENSIONS IN UKRAINE: ASSESSMENT AND RECOMMENDATIONS July 2019 Kyiv, Ukraine VOLUNTARY PRIVATE PENSIONS IN UKRAINE: ASSESSMENT AND RECOMMENDATIONS July 2019 Kyiv, Ukraine This report is made possible by the support of the American people through the United States Agency for International Development (USAID). The contents of this report are the sole responsibility of USAID Financial Sector Transformation Project, being implemented by DAI Global LLC. The opinions expressed do not necessarily reflect the views of USAID or the United States Government. © USAID Financial Sector Transformation Project, July 2019 What we measure affects what we do. If we measure the wrong thing, we will do the wrong thing. If we don’t measure something, it becomes neglected, as if the problem didn’t exist. Beyond GDP: Measuring What Counts for Economic and Social Performance, Joseph E. Stiglitz, Nobel Laureate, Professor, Columbia University, Jean-Paul Fitoussi, Professor, Sciences-Po, Paris and Luiss University, Rome, Martine Durand, Chief Statistician, OECD, OECD, published on November 27, 2018 http://www.oecd.org/social/beyond-gdp-9789264307292-en.htm Our approach to saving is all wrong: we need to think about monthly income, not net worth. The Crisis in Retirement Planning, Harvard Business Review, July-August 2014, Robert C. Merton, Nobel Laureate, MIT Sloan School of Management https://hbr.org/2014/07/the-crisis-in-retirement-planning 5 CONTENTS Executive Summary..............................................................................................8
    [Show full text]
  • Corporate Governance Public Disclosure Authorized
    Report on the Observance of Standards and Codes (ROSC) Corporate Governance Public Disclosure Authorized Corporate Governance Public Disclosure Authorized Country Assessment Ukraine October 2006 Public Disclosure Authorized Public Disclosure Authorized Overview of the Corporate Governance ROSC Program WHAT IS CORPORATE GOVERNANCE? THE CORPORATE GOVERNANCE ROSC ASSESSMENTS Corporate governance refers to the structures and processes for the direction and control of com - Corporate governance has been adopted as one panies. Corporate governance concerns the relation - of twelve core best-practice standards by the inter - ships among the management, Board of Directors, national financial community. The World Bank is the controlling shareholders, minority shareholders and assessor for the application of the OECD Principles of other stakeholders. Good corporate governance con - Corporate Governance. Its assessments are part of tributes to sustainable economic development by the World Bank and International Monetary Fund enhancing the performance of companies and (IMF) program on Reports on the Observance of increasing their access to outside capital. Standards and Codes (ROSC). The OECD Principles of Corporate Governance The goal of the ROSC initiative is to identify provide the framework for the work of the World weaknesses that may contribute to a country’s eco - Bank Group in this area, identifying the key practical nomic and financial vulnerability. Each Corporate issues: the rights and equitable treatment of share - Governance ROSC assessment reviews the legal and holders and other financial stakeholders, the role of regulatory framework, as well as practices and com - non-financial stakeholders, disclosure and trans - pliance of listed firms, and assesses the framework parency, and the responsibilities of the Board of relative to an internationally accepted benchmark.
    [Show full text]
  • Testing the Weak-Form Efficiency of Ukrainian Stock Market
    Testing the Weak-Form Efficiency of Ukrainian Stock Market by Svitlana Bolotova Dissertation Master in Finance Supervisor: Jorge Bento Ribeiro Barbosa Farinha 2016 Biographical Note Bolotova Svitlana was born on 22 of June, 1994, in Kyiv, Ukraine. During 2010-2014 she completed her Bachelor degree in Finance at National University of "Kyiv-Mohyla academy", Ukraine. The same year, 2014, Svitlana joined two-year Master in Finance at School of Economics and Management of University of Porto. ii Abstract Much attention has been recently paid to examining speculative stock markets of East- European economies. This study aims to make a contribution to the previous scarce empirical research on the efficiency of Ukrainian stock market, which has focused on testing the weak-form efficiency mostly during the years much preceding the global financial crisis and claims controversial results. Therefore, to test the weak-form efficiency of PFTS, the main Ukrainian stock exchange, during 2009-2015, ARMA and GARCH models are applied, a methodological approach that has proved to be effective and widely used for highly volatile stock markets. The findings suggest that Ukrainian stock market during the tested period tended to be inefficient. The conclusions might be of interest and importance for domestic and foreign investors and traders when making investment decisions, as well as for authorities, responsible for policy making decisions and reforms implementation in the financial sector. Key-words: emerging stock market; weak-form efficiency; ARMA; GARCH JEL-Codes: C12, G14, G15 iii Index 1. Introduction .................................................................................................................. 1 2. Literature Review ......................................................................................................... 2 2.1. Capital market efficiency concept development .................................................... 2 2.2 Relevant studies .....................................................................................................
    [Show full text]
  • Capital Markets Project the UKRAINE STOCK
    Capital Markets Project THE UKRAINE STOCK EXCHANGE ENVIRONMENT: CHALLENGES AND RECOMMENDATIONS Prepared by: Robert L. Smith International Adviser Capital Markets Development January 17, 2006 Robert L. Smith is a senior securities exchange professional with over 30 years diverse experience in regulation, operations, trading and management. He has an in-depth understanding of international best practices for exchange operations and oversight, having held positions with the U.S. Securities and Exchange Commission, NASDAQ, Chicago Board Options Exchange, and with leading investment intermediaries. Mr. Smith has significant direct experience in emerging markets including work in Kazakstan, Thailand, China, Kyrgyzstan, and Georgia. 2 Preface This paper presents an analysis of securities exchanges in Ukraine, focusing in particular on whether the existing institutions have the capacity and independence to support a truly dynamic financial sector for Ukraine. While the focal point of the paper is the Ukrainian exchange environment, the role of the regulator, the Securities and Stock Market State Commission, is examined in the context of its impact on the development of stock exchange operations supporting true price transparency and planning for pension reform investments. In order to more fully speak to these challenges and better understand the role Ukraine’s securities exchanges can and should play in responding to them, the following analysis of the current status of Ukraine’s stock exchange operations was undertaken: • Background--History – review of the historical development of Ukraine’s securities exchanges, the current political and financial issues exchanges face, and the role of the GOU, the private sector, and international donor community. • Technical Capacity Analysis – evaluation of the capabilities of key exchanges active in Ukraine against requirements for a well-regulated and dynamic trading market, measured against international best practices for this market place.
    [Show full text]
  • Yushchenko Dismisses Rada
    INSIDE: • Yushchenko fatigue in Washington? – page 3. • Holodomor teaching unit to be used in Toronto schools – page 6. • The Famine-Genocide: in curriculum, art, film – pages 10-11. THE PublishedU byKRAINIAN the Ukrainian National Association Inc., a fraternal Wnon-profit associationEEKLY Vol. LXXVI No. 41 THE UKRAINIAN WEEKLY SUNDAY, OCTOBER 12, 2008 $1/$2 in Ukraine Global financial crisis Yushchenko dismisses Rada damages Ukraine’s economy by Zenon Zawada so long as it was allowed to work,” said Kyiv Press Bureau Anatolii Hrytsenko, a national deputy by Zenon Zawada that is beginning in Ukraine,” said Serhii from the Our Ukraine – People’s Self- Kyiv Press Bureau Prokhorov, the first vice-president of the KYIV – With Ukraine’s elected lead- Defense bloc. “We’ve gone to chaos.” Ukrainian Union of Industrialists and ers unable to compromise and find com- In the weeks leading up to the dismiss- KYIV – The global financial crisis has Entrepreneurs. mon ground in forming a new coalition al and in the days following, leaders of ravaged the Ukrainian economy, crashing its “Big problems have emerged within the government, President Viktor Yushchenko Ukraine’s biggest factions pointed fingers fragile stock market, erasing millions in construction industry. Accordingly, these dismissed the Verkhovna Rada on and blamed each other for the govern- October 9 and set new elections for wealth from the nation’s billionaires and very problems emerged as well in all manu- ment’s collapse. December 7. pummeling the hryvnia to its lowest levels facturing branches that serve construction,” The Presidential Secretariat and the ever. In a nationally broadcast statement on Our Ukraine – People’s Self-Defense par- he noted.
    [Show full text]
  • Investment Opportunities in Ukraine
    Investment opportunities in Ukraine August 2014 Time to Invest in Ukraine The chance for large scale modernization in the post-Soviet space July 2014 How to stop the endless “transition” of post-Soviet economy into the “crony capitalism”? Start reforms now and modernization tomorrow! The Ukrainian economy bears the scars, left by the former government. Exports to Russia have declined because of political reasons. But the major problem of the Ukrainian industry is a lack of capital. The recent political changes give Ukraine an opportunity to be the first big country in the post-Soviet space to make a real large-scale transition from the government-controlled to free market economy. Ukraine has the potential to for successful modernization and liberal economic reform. These are the prerequisites for success of the deep reforms and the modernization plan: The political revolution resulted in a “the turn to the West,” making a free market a necessity The new Ukrainian government consists of professionals motivated by the country’s best interests The domestic market is close to the “bottom.” This is true for both financial assets and consumer activity. To avoid deeper crisis, Ukraine needs to rise private capital in 2014-2015 Manufacturing in Ukraine is competitive due to (a) the low cost of highly qualified labor, (b) the large domestic market and (c) a weak local currency. It will help to attract capital for the first stage of reforms and modernization over the next 4-5 years. If the program of reforms really starts now, foreign direct investment will flow into Ukraine as it did into Poland, the Czech Republic, Slovakia 20 years ago.
    [Show full text]
  • Year 2013: Economic Summary for Ukraine Recession, No Reforms, No Association with the EU
    INSTITUTE FOR ECONOMIC RESEARCH AND POLICY CONSULTING Year 2013: Economic Summary for Ukraine Recession, no reforms, no Association with the EU EXECUTIVE SUMMARY Real GDP in 2013 remained at the level of 2012 as positive contribution of domestic demand to economic growth was outweighed by negative contribution of net real exports. Decline in investments undermines economic growth in the future. During the year the Government did not approve reforms for fiscal consolidation and improvement of business climate and, as a result, failed to negotiate new IMF program. The Government faced huge liquidity gap in the end of the year, which resulted in delays in financing all expenditures including even wages and social payments. In the end of the year, Ukraine did not sign Association Agreement with the EU and negotiated for closer relations with Russia, which triggered political crisis in the country. Politics. In 2013, Ukraine tried to continue its long standing policy of balancing between the European Union and Russia. However, in the second half of the year tensions between Ukraine and Russia increased after Russia imposed informal trade barriers for Ukrainian goods and threatened to break off free trade and industrial cooperation. The EU refused to ease requirements for the Association Agreement. As a result, on November 28, Viktor Yanukovych refused to sign the AA at the EU’s Eastern Partnership Summit in Vilnius, which triggered the largest protests in Ukraine since the “Orange revolution” in 2004. Real Sector. Real GDP in 2013 remained at the level of 2012. On expenditure side, real private final consumption supported domestic demand, while real gross fixed capital accumulation declined.
    [Show full text]
  • New Trends in the Economic Systems Management in the Context of Modern Global Challenges
    New trends in the economic systems management in the context of modern global challenges (Vol.2) Collective monograph scientific edited by M. Bezpartochnyi VUZF University of Finance, Business and Entrepreneurship (Sofia, Bulgaria) 2020 1 Chief Editor: Assoc. Prof. Dr. Grigorii Vazov Members: Prof. Doctor of Economic Sciences Metodi Hristov Prof. Dr. Radoslaw Grabowski Prof. Dr. Daniela Bobeva Prof. Dr. Emilia Milanova Prof. Dr. Virginia Zhelyazkova Prof. Dr. Grigor Dimitrov Assoc. Prof. Dr. Yakim Kitanov Assoc. Prof. Dr. Desislava Yosifova Assoc. Prof. Dr. Stanislav Dimitrov Assoc. Prof. Dr. Krassimir Todorov Assoc. Prof. Dr Daniela Ilieva Recommended for publication by the Editorial Board of the VUZF University of Finance, Business and Entrepreneurship Reviewers (international scientific editoral board): Maria Krelowska-Kulas – prof. dr hab., Rector, University of Socio-Economics in Przeworsk, Poland Vazov Radostin – Assoc. Prof. Dr., Vice-Rector, VUZF University of Finance, Business and Entrepreneurship, Bulgaria Tetiana Cherniavska – Doctor in Economics, Professor at the State University of Applied Sciences in Konin, Poland New trends in the economic systems management in the context of modern global challenges: collective monograph / scientific edited by M. Bezpartochnyi // VUZF University of Finance, Business and Entrepreneurship. – Sofia: VUZF Publishing House “St. Grigorii Bogoslov”, 2020. – Vol. 2. – 317 p. Reproduction or citation reference is mandatory. © Collective of Authors © VUZF Publishing House “St. Grigorii Bogoslov”, Sofia, 2020 ISBN 978-954-8590-85-3 2 New trends in the economic systems management in the context of modern global challenges Contents INTRODUCTION ……………………………………………..…..… 7 Chapter 1 THEORETICAL FOUNDATIONS AND METHODOLOGY OF THE ECONOMIC SYSTEMS MANAGEMENT ………………..... 8 Chubka O., Politylo M., Yaroshevych N. Statistical analysis of stock market indicators in Ukraine and worldwide …………………………………...……………………..
    [Show full text]