Innovations
Vol. 9 (2021), Issue 1, pg(s) 3-6

THEORETICAL PROBLEMS IN INNOVATIONS

Economic cycles and recent world crises on the example of Ukraine

  • 1 National Aviation University, Kyiv, Ukraine

Abstract

The theory of cycles as an objective form of development of the world economy (national economy) is studied. The phases of the economic cycle are named: recovery, prosperity, recession, depression. It is recognized that today the whole world is isolated due to the COVID-19 virus infection and all countries are experiencing an economic crisis. In these circumstances, it is important to explore ways out of this crisis and prevent the collapse of the economic system as a whole. The purpose of this article is to determine the theoretical and institutional causes of economic cycles to predict the crises that arise, and to find ways to mitigate their negative consequences. The theory of economic cycles and stages of their passage is generalized; conducted an analysis of Ukraine’s economy before and during the crisis of 2019-2020. The application of the historical method allowed to use experience, generalize and systematize the development of economic theory and use the collected and systematized data to identify cause-and-effect relationships and predict the future dynamics of Ukraine’s economy.

Keywords

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