Exploring Ukraine's accession to the WTO and the impact on its economic development

Abstract

This paper explores whether Ukraine has gained economic benefits from it after it acceded to the WTO and is expected to play a role. Generally, the public believes that joining the WTO can help countries integrate into global development. However, under many WTO reform items, whether small economies can preserve their economic benefits without being impacted by strong competition from foreign countries has become a question worth exploring. This analysis explains a series of consequences brought by Ukraine after the economic policy reform from deregulation, state-owned enterprises reform, and government procurement advocated by the WTO in the perspective of constructivism and indicates the pros and cons of the removal of trade barriers on the social and economic development of small economies like Ukraine.