Institutional efficiency in the context of Ukraine’s eurointegration prospects. Article two: Ukraine’s institutional eurointegration perspectives

Abstract

The article provides a few evaluations of institutional efficiency in Ukraine according to the methodology of the World Bank Worldwide Governance Indicators. The presented institutional dynamics give reasons to assess institutional efficiency in Ukraine as low not only in relation to the average European level, but also in relation to European countries with low institutional efficiency (Bulgaria and Romania). According to the vast majority of indicators of institutional efficiency, downward institutional dynamics are observed. In order to determine the factors of effective institutional adaptation of Ukraine, the work displays the experience of successful (Estonia) and less successful (Bulgaria) EU member states. On this basis, institutional risks are shown and it is substantiated that a rational European integration strategy should include appropriate approaches from the point of view of integration risk management, including the creation of national reserves and maintaining the ability to maneuver in case of shock situations. It is shown that for the successful implementation of European integration processes, it is necessary to create one's own institutional architecture, adequate to the nationally rooted type of economic development, based on Ukrainian identity.