Main Stages and Results of Social and Economic Transformations in Ukraine

L. Kosikova
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L. Kosikova: Institute of Economics, Russian Academy of Sciences, Moscow, Russia

Journal of the New Economic Association, 2014, vol. 21, issue 1, 167-171

Abstract: Ukraine is now in deep crisis - on the verge of default, not having enough internal resources for development. Based on analysis of reform history for more than 20 years the author emphasizes the main causes of current situation: inherited structural disbalances in the national economy, absence of clear reform strategy and serious drawbacks in economic policy, superficial reforms by IMF recipes on the initial stage - the priority of financial stabilization at any price to the prejudice of real sector, sharp re-orientation of external economic relations, overestimation of economic advantages of European integration path, reduction of cooperation ties with Russia by political reasons. These have led to degradation of basic industries, conservation of technological backwardness, deficit of internal resources for modernization, chronic external indebtedness and high dependence on imports, - all this make national economy very vulnerable to external shocks in the times of global crises.

Keywords: Ukrainian economy; market reforms; external and internal factors of economic development; economic crisis (search for similar items in EconPapers)
JEL-codes: F15 F43 O52 (search for similar items in EconPapers)
Date: 2014
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