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The Ukrainian Economy Since Independence
Studies of Communism in Transition
Despite 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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What Reviewers Are Saying
'Banaian's recollections and analysis of the Ukrainian economy show vividly why not all transitions have a happy ending. Ideology and poor policy choices can combine to forestall even the most hopeful signs of a recovery. Given Ukraine's economic potential, the outcome is truly tragic.' -- Pierre Siklos, Wilfrid Laurier University, Ontario, Canada