FOREIGN DIRECT INVESTMENT AS A DRIVER OF NATIONAL ECONOMIC RESILIENCE IN THE POST-CONFLICT PERIOD

Keywords: national economic resilience, crisis conditions, foreign direct investment, post-conflict period, security threats, strategy, post-war reconstruction, special economic zones

Abstract

The article substantiates the decisive role of FDI in ensuring the economic resilience of countries following the active phase of military and political conflicts. In order to develop effective mechanisms for attracting FDI and strengthening Ukraine’s economic resilience in the post-conflict period, it is appropriate to analyse the experience of other post-Soviet states affected by armed conflicts, which, together with Ukraine, currently form the “Associated Trio” — Georgia and Moldova. Relatively low coefficients of determination indicate persistently elevated investment risks and negative investor expectations regarding the stability of the economic environment following the cessation of conflict. The systematisation of key factors influencing national economic resilience and its strengthening demonstrates the success of Georgia’s case in attracting FDI into special economic zones as a tool for stimulating post-conflict economic recovery and enhancing economic resilience. Future research should focus on assessing the effectiveness of specific instruments for attracting FDI in post-conflict conditions.

References

Bak D., Lee H., Biglaiser G. (2025) The role of foreign direct investment in post-conflict economic recovery and peace-building. Foreign Policy Analysis, vol. 21(1), orae032. Available at: https://doi.org/10.1093/fpa/orae032

Okhrimenko O., Popov R. (2022) Povoienna vidbudova Ukrainy: potentsial ta stratehiia peretvoren [Post-war reconstruction of Ukraine: potential and transformation strategy]. Ekonomika ta suspilstvo – Economy and Society, no. 45. Available at: https://doi.org/10.32782/2524-0072/2022-45-7

Pohuliaiko Yu. (2024) Povoienna spetsyfika infrastrukturnoi modernizatsii ekonomiky krain Azii [Post-war specifics of infrastructural modernization of Asian economies]. Ekonomika ta suspilstvo – Economy and Society, no. 69. Available at: https://doi.org/10.32782/2524-0072/2024-69-146

Kaluyzhna N., Vynohradov A., Dubovyk A. (2026) International financial assistance as a driver of post-war economic recovery: the experience of Japan. Stalyi rozvytok ekonomiky – Sustainable Development of Economy, no. 1(58), pp. 299-305. Available at: https://doi.org/10.32782/2308-1988/2026-58-40

Duhinets H., Kolodko N. (2023) Ekonomichne vidnovlennia ta rozvytok krain pislia zbroinykh konfliktiv: dosvid dlia Ukrainy [Economic recovery and development of countries after armed conflicts: experience for Ukraine]. Ius Modernum, vol. 130(5), pp. 46-65. Available at: https://doi.org/10.31617/3.2023(130)04

Hramotniev V. (2025) Frahmentatsiia mizhnarodnoho rynku priamykh inozemnykh investytsii u konteksti postvoiennoho vidnovlennia ekonomiky Ukrainy [Fragmentation of the international foreign direct investment market in the context of Ukraine’s post-war economic recovery]. Ekonomika ta suspilstvo – Economy and Society, no. 78. Available at: https://doi.org/10.32782/2524-0072/2025-78-134

Riznyk D. (2023) Perspectives for post-war recovery in Ukraine in the sphere of attracting foreign direct investments. Ekonomika rozvytku system – Economics of Systems Development, vol. 5(1), pp. 31-34. Available at: https://doi.org/10.32782/2707-8019/2023-1-5

Hrytsenko L., Derkach L., Hedegaard M., Vaarst K. (2025) Foreign direct investment in wartime: factors, consequences and recovery. European Journal of Sustainable Development, vol. 14(3), p. 168. Available at: https://doi.org/10.14207/ejsd.2025.v14n3p168

World Bank. Foreign direct investment, net inflows (BoP, current US$) – Moldova. Available at: https://data.worldbank.org/indicator/BN.KLT.DINV.CD?locations=MD

World Bank. Foreign direct investment, net inflows (% of GDP) – Georgia. Available at: https://data.worldbank.org/indicator/BX.KLT.DINV.WD.GD.ZS?locations=GE

World Bank. Foreign direct investment, net inflows (BoP, current US$) – Ukraine. Available at: https://data.worldbank.org/indicator/BX.KLT.DINV.CD.WD?locations=UA

Qwealth Report. Company incorporation in Georgia (Kutaisi Free Industrial Zone). Available at: https://qwealthreport.com/services-and-products/company-incorporation-in-georgia-kutaisi-free-industrial-zone-kutaisi-fiz/

Qwealth Report. Hualing Kutaisi Free Industrial Zone - best priced hub for offshore companies in Georgia. Available at: https://qwealthreport.com/services-and-products/hualing-kutaisi-free-industrial-zone-best-priced-hub-for-offshore-companies-in-georgia/amp/

National Statistics Office of Georgia. Official website. Available at: https://www.geostat.ge/en/

Bak D., Lee H., Biglaiser G. The Role of Foreign Direct Investment in Post-Conflict Economic Recovery and Peace-Building. Foreign Policy Analysis. 2025. Vol. 21, no. 1. orae032. DOI: https://doi.org/10.1093/fpa/orae032

Охріменко О., Попов Р. Повоєнна відбудова України: потенціал та стратегія перетворень. Економіка та суспільство. 2022. № 45. DOI: 10.32782/2524-0072/2022-45-7

Погуляйко Ю. Повоєнна специфіка інфраструктурної модернізації економіки країн Азії. Економіка та суспільство. 2024. № 69. DOI: 10.32782/2524-0072/2024-69-146

Kalyuzhna N., Vynohradov А., Dubovyk A. International financial assistance as a driver of post-war economic recovery. The case of Japan. Сталий розвиток економіки. 2026. № 1 (58). С. 299-305. DOI: https://doi.org/10.32782/2308-1988/2026-58-40

Дугінець Г., Колодко Н. Економічне відновлення та розвиток країн після збройних конфліктів: досвід для України. Ius Modernum. 2023. № 5. С. 46-65. DOI: 10.31617/3.2023(130)04

Грамотнєв В. Фрагментація міжнародного ринку прямих іноземних інвестицій у контексті поствоєнного відновлення економіки України. Економіка та суспільство. 2025. № 78. DOI: 10.32782/2524-0072/2025-78-134

Riznyk D. Perspectives for Post-War Recovery in Ukraine in the Sphere of Attracting Foreign Direct Investments. Економіка розвитку систем. 2023. Т. 5, № 1. С. 31-34. DOI: 10.32782/2707-8019/2023-1-5

Hrytsenko L., Derkach L., Hedegaard M., Vaarst K. Foreign Direct Investment in Wartime: Factors, Consequences and Recovery. European Journal of Sustainable Development. 2025. Vol. 14, no. 3. P. 168. DOI: 10.14207/ejsd.2025.v14n3p168

World Bank. Foreign direct investment, net inflows (BoP, current US$) - Moldova. URL: https://data.worldbank.org/indicator/BN.KLT.DINV.CD?locations=MD (да

World Bank. Foreign direct investment, net inflows (% of GDP) - Georgia. URL: https://data.worldbank.org/indicator/BX.KLT.DINV.WD.GD.ZS?locations=GE (дата звернення: 24.06.2026).

World Bank. Foreign direct investment, net inflows (BoP, current US$) - Ukraine. URL: https://data.worldbank.org/indicator/BX.KLT.DINV.CD.WD?locations=UA

Qwealth Report. Company incorporation in Georgia (Kutaisi Free Industrial Zone). URL: https://qwealthreport.com/services-and-products/company-incorporation-in-georgia-kutaisi-free-industrial-zone-kutaisi-fiz/

Qwealth Report. Hualing Kutaisi Free Industrial Zone - Best priced hub for offshore companies in Georgia. URL: https://qwealthreport.com/services-and-products/hualing-kutaisi-free-industrial-zone-best-priced-hub-for-offshore-companies-in-georgia/amp/

National Statistics Office of Georgia. Official website. URL: https://www.geostat.ge/en/

Article views: 0
PDF Downloads: 0
Published
2026-10-07
How to Cite
Lezhepokova, V., Dubovyk, A., & Vynohradov, A. (2026). FOREIGN DIRECT INVESTMENT AS A DRIVER OF NATIONAL ECONOMIC RESILIENCE IN THE POST-CONFLICT PERIOD. Economy and Society, (91). https://doi.org/10.32782/2524-0072/2026-91-5