In April, the Head of the Sector of International Financial Relations of the Public Finance Department Doctor of Economics at this Institute, Professor Olena Borzenko saw with her own eyes the “miracle on the Han River” (that’s how they call the South Korean economic miracle of the second half of the 20th century), at the invitation of the Korea Foundation (KF) during her visit to the Republic of Korea together with representatives of the USA, Indonesia, Tanzania, Senegal, Jordan, Yemen and Slovakia.
Each invited participant was personally greeted by the President of the Korea Foundation, Amb. Gheewhan Kim.
At the Korea Trade and Investment Agency
Representatives of the Federation of Korean Industries (FKI) visually introduced the guests to the macroeconomic indicators of the Republic of Korea over the last more than 60 years (since 1961), stressing that industrial business, and domestic investors restored the country side by side with state institutions. And representatives of the global marketplace (e-commerce platform) – the Korea Trade-Investment Promotion Agency (KOTRA), which has a branch in Kyiv – describe how they are helping Korean businesses grow at the international level today.
O. Borzenko at the National Bank of Korea
At the National Bank of Korea, guests were shown the presentation on “The Financial System of North Korea and Modern Economic Problems” with a comparison of macroeconomic indicators, exchange rate dynamics, living standards and education of North Korea (Democratic People’s Republic of Korea) and South Korea (Republic of Korea).
At the Space Technology Center of SK Telecom T.um
Participants of the exchange program of the Korea Foundation had the opportunity to verify this by visiting a number of organizations, including the Global Knowledge Exchange & Development Center in Seoul. At the Hyundai Research Institute (HRI), the visitors were shown a car of the future, the fuel for which is hydrogen obtained from water, and at the Space Technology Center of SK Telecom T.um (T.um is ‘Technology, U-topia, Museum’) – a new world where everything is connected with services based on artificial intelligence.
Olena Borzenko and Mingyeon Jong
Within the Korea Foundation program,
Doctor of Economics, Professor Olena Borzenko met with South Korean scientific
colleagues – Professor of the Department of Economics at Seoul National
University Bonggeun Kim and Researcher from the Korea Institute of
International Economic Policy Minhyeon Jeong. They emphasized that it was high
school, education, science and innovation that became the driver of the
recovery of the Republic of Korea, and the main component of the “Miracle on
the Han River” is a hard, conscious and
selfless work.
During the visit, a preliminary agreement was reached on the signing of memorandums of cooperation between the Institute for Economics and Forecasting of NAS of Ukraine and the Department of Economics of Seoul National University, as well as between the Institute for Economics and Forecasting of NAS of Ukraine and the Korea Institute of International Economic Policy (KIEP). These documents will provide for the implementation of joint projects, holding international conferences, seminars and round tables, and publishing international monographs and collections of scientific works.
Korean Demilitarized Zone
At the end of the visit, the guests visited the two-kilometer Korean Demilitarized Zone (DMZ) between the Republic of Korea and the Democratic People’s Republic of Korea.
Forecast of macroeconomic indicators prepared for the April issue of the Consensus Forecast of macro-indicators of Ukraine’s economy for 2024-2027 (April, 2024).
The Manual provides information on
the formation and international dissemination of the UNDROP, as well as
individual articles of the document with explanations and justifications; it
suggests ways to implement UNDROP through the introduction of development
strategies at various levels of cooperation between states, organisations,
civil society and peasant movements. This is an important step in strengthening
the rights of peasants and promoting sustainable rural development.
The Manual targets a diverse
audience, including rural populations, small-scale farmers, government
representatives, and academic circles. Beyond information dissemination, it
serves as a catalyst for the development and reinforcement of agrarian and
rural policies in Ukraine.
Due to the transition to electric vehicles and the use of
lithium batteries, the lithium industry is rapidly developing in the world. The
growth in demand for lithium led to a sharp increase in its price on world
markets. The price of lithium carbonate now exceeds $70,000. per ton, although
recently it was “only” 13,000. Since Ukraine is one of the few
countries with large reserves of lithium (according to estimates, up to 10% of
world reserves) and is in dire need of resources for economic development, conversations
about the prospects for the development of the lithium industry have
significantly increased here.
Read more in the article of the scientific secretary of the SO “Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine” PhD (Engin.) V.K. Khaustov “Ukrainian lithium: what are the prospects?”, published on the Zn,ua website on February 6, 2024.
On
April 4, 2024, at SO “Institute for Economics and Forecasting of the
National Academy of Sciences of Ukraine”,
a Round Table on “Problems of the markets of goods and services in Ukraine
under martial law” was held at the initiative of scientists of the
Institute’s Department of Sectoral Forecasts and Market Conjuncture.
The Director of SO “Institute for Economics and Forecasting of the
National Academy of Sciences of Ukraine”, Academician of NAS of Ukraine Valeriy Heyets, Corresponding Member of
NAS of Ukraine, Deputy Director of the Institute Serhii Korablin and Dr. of Economics, Head of the Department of
Sectoral Forecasts and Market Conjuncture Vitaliy
Wenger made welcome speeches. During the presentations and discussion, the
participants have outlined various problems of the markets of goods and
services in Ukraine,
considered the changes that took place in the domestic and world markets after
the beginning of large-scale armed aggression, and discussed promising
directions for the further development of the markets. The Round Table was
attended by numerous Ukrainian and foreign scientists.
PhD in Engineering Oleksandr Diachuk at the presentation of the National Energy and Climate Plan of Ukraine
Head of Department of the Energy Sector Development and Forecasting, PhD in Economics Roman Podolets and Leading Research Officer of this Department, PhD in Engineering Oleksandr Dyachuk, scientists of the Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine, took part in the meeting “Energy and Climate Governance in Ukraine – Towards a Green Recovery” in Brussels (Belgium), on March 21, 2024, at which the project of the National Energy and Climate Plan of Ukraine (NPEC) was presented to the European Commission.
All key Ukrainian ministries and agencies, together with independent experts under the auspices of the DiXi Group analytical center and the Institute of Economics and Forecasting of the National Academy of Sciences of Ukraine, with the support of the British Embassy in Ukraine and the American Net Zero World Initiative, participated in the development of this plan. The process was coordinated by the Ministry of Economy of Ukraine.
During the preparation of the NECP, experts from the Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine were primarily responsible for modelling and forecasting of the Ukrainian energy development and greenhouse gas emission dynamics, comprehensive assessing of contribution of implementing a wide range of decarbonization measures, renewable energy development, energy efficiency improvement, etc. towards achieving Ukraine’s international commitments under the Energy Community, European integration (in particular, the Association Agreement between Ukraine, of the one part, and the European Union, the European Atomic Energy Community and their Member States, of the other part) and the 2015 Paris Climate Agreement. For this purpose, they use the TIMES-Ukraine model developed at the Institute, which is widely known at the national and international levels. It has been created to assess the dynamics of the energy system in the long-term perspective. The model is recognized worldwide, as evidenced by numerous scientific publications in the highest-rated professional journals. In recent years, the Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine has been applying and developing this model in cooperation with US national laboratories, including the Pacific Northwest National Laboratory (PNNL), the National Renewable Energy Laboratory (NREL), Argonne National Laboratory (ANL), and Lawrence Berkeley National Laboratory (LBNL).
The Ukrainian team of NECP developers also met with representatives of the European Commission’s Directorate-General for Energy. The main discussion focused on finalizing the draft NECP in accordance with the requirements of the European Union, as well as knowledge exchange, including on additional measures for decarbonizing Ukraine’s economy. Furthermore, at the initiative of the Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine, some issues and preliminary modelling results for the NECP were discussed.
On
January 18, 2024, academic readings on “The Legacy of Mykhailo
Tugan-Baranovsky for the Reconstruction of Ukraine” were held on the basis
of the State University “Institute of Economics and Forecasting of the
National Academy of Sciences of Ukraine” in Zoom-conference mode. The
event for the anniversary of the outstanding Ukrainian scientist, co-founder of
the National Academy of Sciences of Ukraine, Academician M.I. Tugan-Baranovsky
was organized by the Department of Economic History of the SO “Institute
for Economics and Forecasting of the National Academy of Sciences of
Ukraine” and the NGO “All-Ukrainian Association of International
Economists”.
The purpose of the academic readings is to actualize the legacy of M. Tugan-Baranovsky as a scientist-economist, a builder of Ukrainian statehood, a public figure and organizer of science in the context of the tasks of rebuilding Ukraine’s economy and restoring this country’s socio-humanitarian space.
The
readings were attended by scientists of the National Academy of Sciences of Ukraine, National Research and Educational
Institution “Academy of Financial Management”, National
Research Center
“Institute
of Agrarian Economy”,
Research Institute of Legal Support of Innovative Development of National
Academy of Sciences of Ukraine, National Institute for Strategic Studies and
representatives of leading universities. Representatives of business and civil
society joined the consideration of topical issues related to promoting
economic stability, the consolidation of society and the development of
cooperation. The geography of the participants includes research centers and
higher educational institutions in Kyiv, Kharkiv, Dnipro, Zaporizhzhia, Sumy, Zhytomyr, Lviv,
Ternopil, and Khmelnytskyi.
The
moderators of the event were the Head of the Department of Economic History of
the SO “Institute for Economics and Forecasting of the National Academy of
Sciences of Ukraine”, Doctor of Economics Victoria Nebrat and President of
the NGO “All-Ukrainian Association of International Economists”,
Doctor of Economics, Prof. Anton Filipenko.
The starting of the All -Ukrainian Economic Platform “Made in Ukraine” can help to reveal the internal reserves of Ukraine’s economy within the risks caused by long war, on the basis of constant communication, interaction and coordination of state bodies, domestic business, including representatives associations of entrepreneurs and experts. In conditions where the problem of economic stability for Ukraine should be solved with the use of internal reserves, the creation of such a platform for finding common decisions is relevant.
The Russian invasion of Ukraine led to large-scale destruction and enormous problems in Ukrainian agriculture. Among other things, the war demonstrated the extreme vulnerability of the pre-war model of the development of the agricultural sector, which was based on scale effects, the raw nature of agricultural exports, and the deformed structure of agricultural production. Unfortunately, the war did not stop but only intensified the struggle for resources and government support between big business and family farms. In this context, the report “Ukrainian Agriculture in Wartime: Sustainability, Reforms and Markets”, prepared by a group of Ukrainian and European scientists, presents the dynamics and trends of the development of the agricultural sector of Ukraine before the war, gives some results of the influence of military operations on its functioning, and outlines the possibilities its further development in the post-war period. For this purpose, the results of research by the State Organization “Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine” were used, which were supplemented by interviews with representatives of civil society, politicians and representatives of agribusiness conducted by the authors of this report during 2022-2023.
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