The Great Recession and Social Preferences: Evidence from Ukraine

CentER Discussion Paper Series No. 2015-046

Forthcoming in the Journal of Comparative Economics

46 Pages Posted: 30 Sep 2015 Last revised: 25 Oct 2015

Ralph De Haas

European Bank for Reconstruction and Development; Tilburg University - Department of Finance

Milena Djourelova

European Bank for Reconstruction and Development (EBRD)

Elena Nikolova

Central European Labour Studies Institute (CELSI); University College London - School of Slavonic and East European Studies; IOS Regensburg

Multiple version iconThere are 2 versions of this paper

Date Written: September 24, 2015

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.

Keywords: financial crisis, social preferences, Ukraine

JEL Classification: F36, P20

Suggested Citation

De Haas, Ralph and Djourelova, Milena and Nikolova, Elena, The Great Recession and Social Preferences: Evidence from Ukraine (September 24, 2015). CentER Discussion Paper Series No. 2015-046; Forthcoming in the Journal of Comparative Economics. Available at SSRN: https://ssrn.com/abstract=2665121 or http://dx.doi.org/10.2139/ssrn.2665121

Ralph De Haas (Contact Author)

Tilburg University - Department of Finance ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands

European Bank for Reconstruction and Development ( email )

One Exchange Square
London, EC2A 2JN
United Kingdom

HOME PAGE: www.ebrd.com

Milena Djourelova

European Bank for Reconstruction and Development (EBRD) ( email )

One Exchange Square
London, EC2A 2EH
United Kingdom

Elena Nikolova

Central European Labour Studies Institute (CELSI) ( email )

Zvolensk√° 29
Bratislava, 82109
Slovakia

University College London - School of Slavonic and East European Studies ( email )

Malet Street
London WC1E 7HU
United Kingdom

IOS Regensburg ( email )

Landshuter Str. 4
Regensburg, 93047
Germany

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