Global financial crises and their macroeconomic consequences for national economies: the case of Ukraine

Abstract

The article provides a comprehensive and in-depth analysis of the nature, types and causes of financial crises, which can threaten both individual national economies and global economic stability. The study analyses the origin and development of financial crises, which, in turn, are given special attention as they are becoming increasingly common amid deepening globalization and the growing integration of world markets. Particular emphasis is placed on theoretical aspects, in particular, on different approaches to the classification of financial crises, as well as on their key characteristics and determining factors that contribute to their emergence and development. The author examines the impact of global financial crises on macroeconomic indicators, including recession, instability of national currencies, rising unemployment and a general de-cline in economic activity, which have long-term consequences for the global economy. Particular attention is paid to the analysis of the impact of the financial crisis on the Ukrainian economy, taking into account its specific socioeconomic conditions and struc-tural problems that impede the overcoming of the crisis. The main challenges facing Ukraine in the context of the financial crisis are identified, including low productivity, instability of the banking system and weak competitiveness in global markets. The study also examines strategies for preventing and overcoming financial crises, including im-proving the regulatory framework, developing effective macroeconomic policies and strengthening the role of the state in managing economic processes. In addition, the international experience of overcoming financial crises and the possibility of adapting it to Ukrainian realities to ensure sustainable economic growth and financial stability were considered. The final part contains recommendations aimed at restoring Ukraine's eco-nomic sectors in order to reduce their vulnerability to future financial crises and increase their overall economic potential.