Social and economic consequences of the war in Ukraine. Case of Ukraine and Russian Federation

Abstract

The war in Ukraine is the subject of numerous analyses and commentaries, most often focusing on its military and geopolitical dimensions. To a lesser extent, its economic, social and financial context attracts attention. The presented article is part of the author's consideration of the causes and consequences of the war in relation to the above-mentioned aspects and the regional dimension, specifically the countries directly participating in it: Ukraine and the Russian Federation. The justification for the choice of the above-mentioned countries seems logical and comes from the need to focus on the main war actors, where the concrete economic reality caused by the war can force social and political changes, resulting in the interruption or intensification the frontline activities. In the author's opinion, such an approach to the problem adds value to the issue taken up. The research objective of the presented analysis is to identify the specific macroeconomic and social effects of the war in the listed economies and societies, with an attempt to answer the key questions: which of the analyzed economies and why suffered the most from the war and its consequences? and what are the main symptoms of the crisis caused by the war and further prospects for the development of the social and economic situation in the analyzed countries? In the course of the research, the method of cause-effect analysis and institutional-legal analysis was used. Elements of the decision-making method, comparative method and statistical research were also used. In developing the conclusions and recommendations contained in the conclusion, the exploratory method was practice, combining predictive inference with research of the present.