The Ukrainian Economy Since IndependenceDespite the fact that Western governments have provided Ukraine with over $10 billion in foreign aid, little is known of Ukraine's economy since it declared independence from the Soviet Union in 1991. In this book, Professor Banaian describes the halting steps towards transition that Ukraine has taken and analyses their effects. Ukraine is an example of how slow or gradual reform was attempted and stopped. The author argues that this has been the result of several political and economic factors, and that the resulting 'arrested transition' may continue indefinitely. Backed by extensive econometric analysis, the book provides insight into its hyperinflationary experience, the causes of continued economic contraction, Ukraine's experience with exchange rate regime changes, its large underground economy and the prospects for long run growth. The Ukrainian Economy since Independence will be of interest to scholars of the economics and political science of transition as well as policymakers in the area. |
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Page 36
... base money . Governments can induce banks to hold base money by increasing reserve requirements . De Melo and Giovannini ( 1993 ) and Drazen ( 1989 ) argue that raising reserve requirements enables central banks to collect more in ...
... base money . Governments can induce banks to hold base money by increasing reserve requirements . De Melo and Giovannini ( 1993 ) and Drazen ( 1989 ) argue that raising reserve requirements enables central banks to collect more in ...
Page 87
... base money created in the month was included to hold constant the amount of liquidity in the system , and the change in the exchange rate was included to measure the opportunity cost of holding a bond ( since most banks in Ukraine hold ...
... base money created in the month was included to hold constant the amount of liquidity in the system , and the change in the exchange rate was included to measure the opportunity cost of holding a bond ( since most banks in Ukraine hold ...
Page 97
... monetary aggregates . This figure is used to determine the maximum deficit . To do this the IMF and the central bank have to agree to how much of base money growth would go towards financing commercial bank credit and how much towards ...
... monetary aggregates . This figure is used to determine the maximum deficit . To do this the IMF and the central bank have to agree to how much of base money growth would go towards financing commercial bank credit and how much towards ...
Contents
Figures | 10 |
The Hyperinflation Process | 28 |
Reform and Power | 56 |
Copyright | |
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agricultural amount argue Banaian Bank of Ukraine Belarus billion bribes budget deficit Burdekin Burmeister and Wall cash cent of GDP central bank clans coal Cobb-Douglas commercial banks Communist corruption countries decline deposits Dnipropetrovsk dollars Donbas Donetsk Economic Review elections enterprises equation estimates exchange rate expected export Figure financing firms foreign currency Gosbank growth rate hryvnia hyperinflation income increase independence industry inflation rate International Monetary Fund Kalman filter karbovanets Kravchuk Kuchma Kuzio Kyiv Lazarenko loans long-run macroeconomic Marchuk Market Economies money demand Moroz National Bank output parliament Party political privatization production function Pynzenyk Rada real interest rate republics reserve requirements ruble Rukh Russia sector seigniorage seigniorage revenues share of GDP Source Soviet Union stabilization subsidies Table target zone tax revenues trade transition economies Ukraine's Ukrainian USSR vote wage western workers World