Publication delayed (Originally scheduled in June 2002).
This comprehensive and detailed examination of the challenges faced by the newly independent state of Ukraine argues that its lackluster economic performance during the 1990s was the unfortunate result of a combination of the hasty adoption of public policies not clearly understood and a prolonged struggle to build governmental institutions. With a focus on both how the government used financial repression to balance budgets, dampen inflationary pressures and, at the same time, maintain formal and informal subsidies to state enterprises. It makes original contributions to the debate on economic reform by focusing attention on Ukraine's critical choices in the areas of state institution-building, fiscal policies and monetary reform, and the government's preference for financially-repressive policy measures.
Table of Contents
Economic Crisis, Change, and Reform in the 1 (12)
The Ukrainian Economy in the 1990s 13 (24)
Establishing Economic Sovereignty, 1991--94 37 (26)
Kuchma as Economic Reformer, 1994--2001 63 (30)
The Challenge of Fiscal Reform 93 (50)
Tax Policy and Subnational Finances 143(40)
From Hyperinflation to Stabilization, 1991--96 183(50)
Appendix 7.1: Monetary Policy after the 215(18)
1996 Currency Reform
Financial Repression in the Ukrainian Economy 233(52)
Appendix 8.1: Contours and Performance of 255(14)
the Ukrainian Banking System
Appendix 8.2: Repeated Efforts to Repress 269(16)