State Power and Political Elites in Dimension of Global Conflicts and Socio-Economic Development of Ukraine

Abstract

Introduction: The global political conflicts impact the political elite and socioeconomic development of Ukraine. Many big economies face political conflict, particularly between Russia and Ukraine. The current study evaluates the impact of political conflicts on socio and economic factors in Ukraine using data from different official data sources, including World Development Indicators (WDI). Methods: The study uses the Exploratory Data Analysis (EDA). Results: The results indicate that economic growth has decreased since Ukraine and Russia started their conflict. A drastic change in unemployment level and current account also generated negative values. The Ukrainian currency has decreased by more than 20 per cent. The whole concept shows that the indicators are not going in a good direction, which means the quality of life is decreasing due to problems in socio-economic indicators. The human cost of conflict that hurt the economics of the world and Ukraine. The world’s GDP has reduced by 1%, or $1.5 trillion, and European commerce has decreased by 1%. Developing Europe is badly impacted as the GDP of the European nations that rely on Ukraine declines by 30%. The exports have decreased from 8 to 18 per cent, contributing to the current account deficit. Conclusions: On the other hand, the study concludes that global political conflicts impact leaders regarding international political disputes, which also affect socioeconomic and political elements, security, and politics. Certain sub-factors, such as heightened accountability and scrutiny, shifting alliances, and the power of international institutions, are impacted politically.