Economic Efficiency in Transition: The Case of Ukraine

Anatoliy Goncharuk

Managing Global Transitions, 2006, vol. 4, issue 2, 129-143

Abstract: Although a market economy is by definition more effective than a centrally planned economy, various countries in transition have faced the problem of economic inefficiency. The aim of this paper is to develop a comprehensive measure of economic efficiency using the production function framework and estimate it for the Ukraine economy. There exist namely a vast amount of indicators that support our hypothesis on the diminishing efficiency of the Ukraine economy in the last years. Our in-depth analysis shows that the diminishing efficiency is a consequence of ineffective investments and innovations as well as of an increasing intensity of materials use.

Keywords: economic efficiency; productivity; factors; labour; capital (search for similar items in EconPapers)
JEL-codes: C3 O47 (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (3)

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