The Great Recession and Social Preferences: Evidence from Ukraine

Ralph de Haas, Milena Djourelova, Elena Nikolova

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Abstract

We use detailed survey data to document stark differences between West
and East Ukraine when it comes to household attitudes toward market-based
economies and democratic institutions. Along both of these dimensions, Eastern
Ukrainians are decidedly less supportive of liberal systems. We also find that economic attitudes changed in response to the global financial crisis. West Ukrainian households who were affected more extensively by the crisis were more disappointed with the market and private ownership, while in Eastern Ukraine economic attitudes became less pro-market across the board. Our evidence suggests that attitudes and values are determined by both deep-rooted factors and more transient macroeconomic shocks.
Original languageEnglish
Place of PublicationTilburg
PublisherEuropean Banking Center
Number of pages46
Volume2015-009
Publication statusPublished - 28 Sep 2015

Publication series

NameEuropean Banking Center
Volume2015-009

Keywords

  • financial crisis
  • socail preferences
  • Ukraine

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    de Haas, R., Djourelova, M., & Nikolova, E. (2015). The Great Recession and Social Preferences: Evidence from Ukraine. (European Banking Center; Vol. 2015-009). European Banking Center.