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 34
... increasing use of seigniorage on the inability of the Ukrainian authorities to raise taxes . Yet the evidence is far ... increase occurred in 1992 and early 1993 when tax revenues remained roughly constant while real GDP fell by half ...
... increasing use of seigniorage on the inability of the Ukrainian authorities to raise taxes . Yet the evidence is far ... increase occurred in 1992 and early 1993 when tax revenues remained roughly constant while real GDP fell by half ...
Page 43
... increases to manifest themselves in open inflation . 19 Another item limiting the increase was the absence of ruble currency . Ukraine received no additional cash rubles after October 1991. The IMF estimates that 33.8 billion rubles ...
... increases to manifest themselves in open inflation . 19 Another item limiting the increase was the absence of ruble currency . Ukraine received no additional cash rubles after October 1991. The IMF estimates that 33.8 billion rubles ...
Page 150
... increasing output . Ghosh ( 1996 ) argued that increases in real credit have a temporary effect of increasing output , but after several months the net effect is negative . To increase the output of the country will require increases in ...
... increasing output . Ghosh ( 1996 ) argued that increases in real credit have a temporary effect of increasing output , but after several months the net effect is negative . To increase the output of the country will require increases in ...
Contents
Figures | 10 |
The Hyperinflation Process | 28 |
Reform and Power | 56 |
Copyright | |
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Common terms and phrases
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