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 22
... rubles to balance its books . To keep the soda from running dry , CBR had to print 7 For a more comprehensive discussion of the ruble zone's structure and collapse , see Banaian and Zhukov ( 1995 ) . money to keep liquidity in the trade ...
... rubles to balance its books . To keep the soda from running dry , CBR had to print 7 For a more comprehensive discussion of the ruble zone's structure and collapse , see Banaian and Zhukov ( 1995 ) . money to keep liquidity in the trade ...
Page 23
... ruble zone began to experience cash shortages . As noted in the next chapter , Ukraine experienced an outflow of rubles ( to finance cross - border trade ) and had to introduce the karbovanets to provide for trade and commerce within ...
... ruble zone began to experience cash shortages . As noted in the next chapter , Ukraine experienced an outflow of rubles ( to finance cross - border trade ) and had to introduce the karbovanets to provide for trade and commerce within ...
Page 43
... rubles began to become scarce . In response the government initially handed out single - use coupons called karbovanets ( Ukrainian for ruble ) , to supplement ruble payments in wage packets . These had to be tendered with rubles in ...
... rubles began to become scarce . In response the government initially handed out single - use coupons called karbovanets ( Ukrainian for ruble ) , to supplement ruble payments in wage packets . These had to be tendered with rubles 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