Background on Ukraine: Some History, Some Current Events, Some Thoughts on Reconstruction

 

Shutterstock: Kyiv, July 2021. Photo by Ingus Kruklitis.

In early 2022, I delivered several introductory lectures presenting global perspectives on housing finance. As part of the last of those lectures I included a discussion of Russia's then-threatening behavior towards Ukraine. Our class discussed how the Russia-Ukraine conflict might spill over into the economies of Europe, the U.S., eventually the globe; and a few implications for real estate markets.

Our class met in the morning, and later that day, Russian troops invaded Ukraine.  In the past few months I've expanded the original teaching materials.  They include a little history, some discussion of the economics of Ukraine and Russia, with a focus on oil and gas markets.  Ukrainian housing markets and policies are discussed, as well as some thoughts about reconstruction.  A list of reading and links related to this topic are included at the end.

These materials are pitched at students and assume no familiarity with Ukraine or the region, and are presented in a very informal style.  Professionals and those who know the region well may still find some useful nuggets, especially in the discussion of reconstruction and housing markets.

Since the teaching materials have expanded, here they are presented as a stand-alone PowerPoint file. They are a work in progress. I am not an expert in Ukraine and I appreciate any comments or corrections those who are expert might provide -- especially from Ukrainians.

Update: My colleague Alain Bertaud recently spoke to a group of Ukrainian architects and planners on issues of reconstruction.  The presentation (in English, Ukrainian subtitles available) is a tour de force and is available here.  It is pitched to a higher level audience than my teaching notes, but is extremely accessible to students or anyone interested in the subject. Five star recommendation.