The impact of globalization on the welfare of the country’s population: finding the optimal path for Ukraine

The study of the impact of globalization processes on the well-being of the country’s population is becoming extremely relevant in modern realities. The article offers a study of the cause-and-effect relationships between globalization and well-being, as well as the peculiarities of the development of such links for Ukraine. As one of the modern megatrends of the world, globalization is an integral part of human development, and as a process, it has significantly affected the well-being of people. Its impact on well-being, however, is complex and multifaceted, with both positive and negative consequences. The term quality of life, in the concept of Welfare state, has acquired special significance in today’s society. And the measurement of quality of life, as well as GDP of ND, are the main measures of well-being. As the world becomes more and more similar, there is a need to compare the mutual influences between globalization and quality of life in Ukraine with other countries. For this purpose, a review of published works was made to identify existing studies, the relationship between globalization indices and well-being measurements was identified by the method of statistical analysis (correlation method), the nature of these mutual influences was determined with the help of empirical research, the comparative analysis showed the specifics of the level of globalization and the level of well-being in Ukraine in the comparison of such relationships in other countries. The main subject of the study is to initiate a discussion about what makes a country effective, as well as what steps can be taken to increase the level of well-being and efficiency in Ukraine. Although Ukraine is currently going through difficult periods of its history, it is at such times that significant transformations aimed at sustainable and balanced development in the conditions of the modern world order should be launched. The study found that there are both direct and inverse relationships between globalization and welfare indices. Basically, globalization (social and economic) has a positive impact on GDP and quality of life. The comparative analysis points to an effective path of globalization for Ukraine, first of all, it concerns the legal factor of globalization, namely the provision of policies, institutions that support the rule of law, economic freedoms, equal access to investment markets and the economy of all entities. From the point of view of social globalization, in order to increase Ukraine’s competitiveness and efficiency, its efforts should be directed to international education, the development of high technologies, ensuring equality of rights and access to benefits (fight against corruption), and cultural exchange. The war has many negative consequences for Ukraine, but at the same time, it can also be an incentive for positive changes.