Journal
УКР   ENG
Socio-Economic Problems
of the Modern Period of Ukraine
   



Collection SEPSPU -- sep2026.03.076

Repository of Institute of Regional Research UDC 327:339.9; JEL F02, F50, F53, F55
Ivashchuk, O. V., & Mykhaylyak, Yu. Z. (2026). Transformatsiya suchasnoho svitovoho poryadku v konteksti kryzy hlobal'noho liderstva [Transformation of the contemporary world order in the context of the crisis of global leadership]. Sotsial'no-ekonomichni problemy suchasnoho periodu Ukrayiny [Socio-Economic Problems of the Modern Period of Ukraine], 3(175), 76-85. [in Ukrainian].
Sources: 34

Authors



Ivashchuk Oleh Valentynovych

Doctor of Philosophy

Senior Lecturer of the Department of international economics of the Western Ukrainian National University

Contacts: oleg.iva12@gmail.com, olegiiva16@ukr.net, o.v.ivashchuk@wunu.edu.ua

Webpages:



Mykhaylyak Yuriy Zoryanovych

Postgraduate of the Department of international economics of the Academic Institute of International Relations n.a. B. D. Havrylyshyn of the Western Ukrainian National University

Contacts: y.mykhailiak@st.wunu.edu.ua

Webpages:

Resume

The article argues that the world order is a complex system of international interactions that is constantly transforming under the influence of various factors. It suggests examining the world order on the basis of an interdisciplinary approach. The peculiarities of the development of the world order are analyzed from various academic perspectives. Examining academic approaches to understanding the world order reveals an absence of a clearly defined interpretation. The differences between the international and global orders are explained in detail. The article finds that there is no single periodization of the world order development and analyses the approaches taken by international organizations, including the OECD, the International Monetary Fund, the World Bank, UNCTAD, and the UN. The analysis confirms that the determination of periods depends on the specific nature of the organization’s activities. Emphasis is placed on the role of global leadership in transforming the world order and its evolution, confirming that the model of the world order and the configuration of global leadership are not always aligned. The article reveals that a new model of global leadership of multi-level and networked nature is emerging under the influence of new global challenges at the start of the 21st century. The authors confirm that, since 2020, the world order has been shaped by new challenges, among which the active phase of the global leadership crisis is particularly noteworthy. This article argues that the crisis of global leadership is a broader phenomenon than a shift in the balance of power, and manifests itself through the decline in the effectiveness of international institutions, the incompatibility of traditional leadership mechanisms with the new structure of the world system, the weakening of the dominance of a single center of power, the decline in trust in multilateral cooperation, and the increasing difficulty of jointly managing global challenges. Five stages in the development of the global leadership crisis are identified, and the main characteristics of each are analyzed. The most far-reaching was the financial and economic crisis of 2008–2009, which led to reforms within the IMF. The article shows that, since the early 2020s, the crisis of global leadership has taken on a multidimensional nature, linked to the COVID-19 pandemic and the war in Ukraine. Signs of a crisis in political coordination within the UN system and the results of voting on UN Security Council draft resolutions over the past decade are analyzed. An institutional crisis in ensuring peace and security is confirmed. The application of restrictive measures in international trade is analyzed. The militarization of national economies is assessed as an indicator of the crisis in global leadership. The article reveals that the transformation of the contemporary world order is creating new conditions for the development of global leadership, but this process also has a reverse aspect. The authors propose directions for the transformation of the contemporary world order, including the reform of global governance mechanisms, the expansion of state representation in international institutions, the modernisation of decision-making procedures, the prevention of the blocking of collective action, the diversification of global leadership, and the harmonisation of global and regional levels of governance based on a network model of interaction.

Keywords:

globalization, global leadership, world order, international relations, international organizations, economic development, instability, fragmentation, IMF, UN

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