Today, economic integration is a common tactic for most countries. It refers to the convergence of two or more countries through the signing of a pact agreement to trade freely without the inclusion of trade barriers such as tariffs and customs duties. There are seven primary stages of this type of integration beginning from a Preferential Trade Area (PTA) to the complete economic integration, which is the epitome. Despite the benefits of this international integration, nations like Ukraine hesitate to join a trade pact for fear of not benefiting, as they should (Loo & Elsuwege, 2012). The proposal below has five primary segments, which are the introduction, literature review, methods, results, and discussion. The introductory part summarizes the intention of the study and provides the research problem. Next, the review of documentation focuses on two pieces, one including a recent news article that explains the current Ukrainian stand concerning economic integration with Russia as well as the European Union. The other piece centers on the rising demand for integration in the Ukrainian economy. The qualitative and quantitative methodology provides the study with a means to evaluate the research problem and come up with accurate results, which will make a comprehensive discussion.
The purpose of the research would be to solve the Ukraine dilemma by establishing the impact of integration on its economy. As such, Ukraine would be in a better position to make clear-headed decisions about the future of trade with the former Soviet Union and the EU, as well as other countries. The investigation would reveal the actual state of the economy of Ukraine regarding its balance of trade, terms of trade, foreign direct investment, and the trend of its gross national and domestic product. These results would provide a steady platform to decide if Ukraine can survive integration. Failure would lead to economic collapse (Schnytzer & Andreyeva, 2002). Thus, it is imperative to conduct an extensive study of the economy down to the bone before coming up with a conclusion. The study could also serve as a basis for further research, which believe that there will be a presence of a gap.
The proposed research will also employ the use of independent and dependent variables, which will be useful during the analysis stage of the study. The independent variable, in this case, is the country’s national income since it determines the functioning of every activity in all the economic sectors. The national income of Ukraine determines the consumption, tax rates, wages, the level of foreign direct investment, and manipulation of the amount of exports and imports of the nation. As such, they act as the dependent variables (Loo & Elsuwege, 2012). The central hypothesis of the study states that the less the negative influences that Ukraine faces due to the economic integration, the more it is likely to converge towards forming trade pacts, especially with the EU. It is also imperative to take note that the boundary of the study will only focus on the economy of Ukraine and not that of Russia or the countries within the European Union…..