Ukraine: The Cost of Weak Institutions
Ukraine has the potential to be a very wealthy country. It has a well-educated workforce, some of the best agricultural land in the world, an enviable supply of hydrocarbons and minerals, and a relatively well-developed infrastructure. Despite these advantages, however, Ukraine''s per capi...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2006
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Schriftenreihe: | IMF Working Papers
Working Paper No. 06/167 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
Zusammenfassung: | Ukraine has the potential to be a very wealthy country. It has a well-educated workforce, some of the best agricultural land in the world, an enviable supply of hydrocarbons and minerals, and a relatively well-developed infrastructure. Despite these advantages, however, Ukraine''s per capita income remains low. Using a cross-country stochastic-frontier framework, this paper argues that Ukraine''s failure to tap its full potential is mainly a result of its market-unfriendly institutional base. With an inherited Soviet framework that is ill suited to the needs of a market economy, Ukraine has been slow to establish the institutions needed to use its resources efficiently. The paper provides a quantitative guide to the benefits, in terms of potential output, of further structural reform. Looking forward, the study finds that durable growth in Ukraine will depend primarily on the authorities'' ability to implement their ambitious reform agenda, and thereby to help secure the basic foundations of a modern market economy |
Beschreibung: | 1 Online-Ressource (29 p) |
ISBN: | 1451864272 9781451864274 |
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spelling | Tiffin, Andrew Verfasser aut Ukraine The Cost of Weak Institutions Tiffin, Andrew Washington, D.C International Monetary Fund 2006 1 Online-Ressource (29 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 06/167 Ukraine has the potential to be a very wealthy country. It has a well-educated workforce, some of the best agricultural land in the world, an enviable supply of hydrocarbons and minerals, and a relatively well-developed infrastructure. Despite these advantages, however, Ukraine''s per capita income remains low. Using a cross-country stochastic-frontier framework, this paper argues that Ukraine''s failure to tap its full potential is mainly a result of its market-unfriendly institutional base. With an inherited Soviet framework that is ill suited to the needs of a market economy, Ukraine has been slow to establish the institutions needed to use its resources efficiently. The paper provides a quantitative guide to the benefits, in terms of potential output, of further structural reform. Looking forward, the study finds that durable growth in Ukraine will depend primarily on the authorities'' ability to implement their ambitious reform agenda, and thereby to help secure the basic foundations of a modern market economy Online-Ausg http://elibrary.imf.org/view/IMF001/07640-9781451864274/07640-9781451864274/07640-9781451864274.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Tiffin, Andrew Ukraine The Cost of Weak Institutions |
title | Ukraine The Cost of Weak Institutions |
title_auth | Ukraine The Cost of Weak Institutions |
title_exact_search | Ukraine The Cost of Weak Institutions |
title_exact_search_txtP | Ukraine The Cost of Weak Institutions |
title_full | Ukraine The Cost of Weak Institutions Tiffin, Andrew |
title_fullStr | Ukraine The Cost of Weak Institutions Tiffin, Andrew |
title_full_unstemmed | Ukraine The Cost of Weak Institutions Tiffin, Andrew |
title_short | Ukraine |
title_sort | ukraine the cost of weak institutions |
title_sub | The Cost of Weak Institutions |
url | http://elibrary.imf.org/view/IMF001/07640-9781451864274/07640-9781451864274/07640-9781451864274.xml |
work_keys_str_mv | AT tiffinandrew ukrainethecostofweakinstitutions |