Influencing Factors Analysis on European and World Regional Economies Development Caused by War in Ukraine Based on Multi-Criteria Decision-Making Theory

Abstract

The paper examines the level of unfavorable factors influencing the indicators of the development of the economies of Europe and the world, which were caused by the war in Ukraine. Taking into account the consequences of the war in Ukraine were considered from various points of view: economic, social, political, environmental, etc. The catastrophic consequences of the war in Ukraine negatively affected and continue to affect the development of European economies. The paper found that the rate of economic growth is rapidly decreasing, especially in Eastern European countries. The studied forecasts indicate a high probability of signs of recession in the countries of Eastern Europe. Under the influence of the war in Ukraine, the article identifies the signs of a migration crisis and a rapid increase in prices for necessities. Among the adverse impact criteria, which are recommended to be taken into account by the governments of the countries in the process of making management decisions, the volatility of prices for wheat, gold and gas, as well as fluctuations in the exchange rates of the dollar and the yen to the euro, are highlighted. It is recommended to consider the amount of 400 billion US dollars given in the report of the World Bank as a tenfold underestimated value when assessing the scale of damage caused to the economy of Ukraine. It is substantiated that the computational methods (cluster analysis, correlation analysis, etc.) used in the work are sufficient for determining the level of adverse effects of the factors of the war in Ukraine on the indicators of the development of the economies of the countries of Europe and the world. © 2023 Copyright for this paper by its authors.