INSTITUTIONAL QUALITY AS A DETERMINANT OF SOCIO-ECONOMIC MODEL CHOICE: EUROPEAN EXPERIENCE AND LESSONS FOR UKRAINE

Анотація

The article examines the role of institutional quality as a key determinant in the formation and evolution of socio-economic models in European countries under conditions of post-crisis and warinduced transformation. It is argued that institutions function not as auxiliary, but as system-forming factors that determine the capacity of national economies to ensure sustainable growth, social cohesion, and resilience to external shocks. The theoretical framework of the study is grounded in the principles of New Institutional Economics and the varieties-of-capitalism approach, which makes it possible to integrate qualitative characteristics of governance with the typology of European socio-economic models. The article provides an analytical review of previous studies based on the World Bank’s Worldwide Governance Indicators (WGI) and the European Quality of Government Index (EQI). These studies indicate a stable relationship between high levels of the rule of law, government effectiveness, and regulatory quality, and the capacity of economies to achieve innovation-driven growth, reduce poverty, and develop deep financial markets. The literature also demonstrates that institutional weakness contributes to the reproduction of peripheral and dependent development models, particularly in Southern and Central and Eastern European countries. Special attention is devoted to selected aspects of the transformation of Ukraine’s socio-economic model under conditions of full-scale war. It is argued that the European integration vector creates a unique window of opportunity for institutional convergence, while improvements in governance quality should become a strategic prerequisite for Ukraine’s transition from a mobilization model to a model of sustainable post-war development. Keywords: institutional quality, socio-economic model, varieties of capitalism, governance, resilience, European integration.

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