Ukraine in the institutional dimension of global conflict and natural localization

Abstract

It is shown that the institutional environment of global markets was formed under the conditions of technological, financial and political dominance of certain leading countries, which caused today's gap between the integrating capacity of market and structural-institutional mechanisms of the global economy and its actual complexity and potential for conflict. The mechanism for reducing this gap was spontaneous localization as a modern simplification of the structure of the world economy due to massive conflicts and the rejection of a share of cooperative agreements. The contribution to the deterioration of the quality of the institutional environment of the global economy of the process of regeneration of the debt institution is revealed. In the new institutional environment, the demand for liquidity (cash balances) as a function of the motive for foresight takes the twisted form of the demand for inventories, both production and consumer demand, exacerbating the global deficit. The conclusion is substantiated that the global economic power, which is not provided with global resources and value-institutional structures, is a source of uncertainty not only for competitors, but also for itself; the result of its functioning is the deepening of disparities and gaps, which can be partially hidden due to hypertrophied credit. It has been proven that the mutual strengthening of the phenomena of global economic power and hypertrophied credit carries the risk of destroying the social market foundations of economic freedom, trust and justice; this determines the demand for alternative models. It is shown that the criterion for the expediency of alternative models of global development in the conditions of unfolding contradictions between globalization and localization is the ability to more or less stable distribution of powers and responsibilities.