Institutions and Institutional Resilience: Essence and Role in the Post-War Development of Ukraine’s Economy

Анотація

The relevance of the study of institutions on their role in the economy of Ukraine in the conditions of wartime and in view of the post-war reconstruction is of great importance, since the military conflict significantly affects all spheres of life of our country. The aim of the present study is to summarize the theoretical provisions on the essence of institutions and institutional resilience and determine their role in the post-war development of the Ukrainian economy. The article considers the main aspects of institutionalism, which arose on the basis of the research of prominent scientists of the XIX-XX centuries. Various approaches to the definition of the concept of «institution» have been allocated, in particular the normative approach, which considers the institution as a complex set of norms or rules. Different views on the classification of institutions according to key features are presented. Attention is focused on institutional resilience as an important classification feature of institutions in the post-war period. The importance of creating resilient institutions for rapid economic recovery is emphasized and the issue of ensuring their institutional resilience is formulated. According to OECD research, institutions that have worked effectively in a stable period may not be able to withstand a crisis. Several practical directions for the creation of resilient institutions are proposed on the basis of practical examples of their implementation in the countries that need post-crisis revival, in particular, the use of internal sources of resilience, positive experience, local norms and values, social capital, etc. It is highlighted that the resilience of institutions can be achieved through internal efforts, adaptation and local experience. The importance of this approach for the development of sustainable institutions capable of withstanding crises and maintaining functionality is specified. The opinion is expressed that in the post-war period it will be important for Ukraine to determine the factors of resilience of institutions for the effective recovery and development of the country.

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