Fostering Sustainable Growth in Ukraine

ISBN-13: 9783790814644 / Angielski / Miękka / 2002 / 326 str.

S. Von Cramon-Taubadel; I. Akimova; Stephan Von Cramon-Taubadel

Opis

This volume explores economic growth in the Ukraine from a regional and international perspective. In doing so, it looks at the extent to which economic reform, a positive international economic climate and the devaluation of the Hryvnia in 1998/99, have contributed to economic growth.

Spis treści

1 Background.- 2 The structure of this book.- 3 Outlook and acknowledgements.- I: the International Environment and Growth.- 1 Achievements or Missed Opportunities: Factors of Economic Growth in Russia. What Lessons are Relevant to Ukraine?.- 1 Some empirical facts about the economic performance during 1999 and 2000.- 2 Growth, institutions, and the exchange rate policy dilemma.- 3 Growth and structural changes.- 2 Economic Growth in Bulgaria and Romania.- 1 Introduction.- 2 Comparative overview.- 3 Main current features of economic growth in Bulgaria.- 4 Main current features of economic growth in Romania.- 3 Trade, Capital Flows, and Economic Growth in Developing Countries.- 1 Liberalisation, external constraints, and growth.- 2 Private capital flows: solution or problem?.- 4 Natural Resources and Economic Growth: What Is the Connection?.- 1 Introduction.- 2 Channel 1: The Dutch disease and foreign capital.- 3 Channel 2: Rent seeking and social capital.- 4 Channel 3: Education and human capital.- 5 Channel 4: Saving, investment, and physical capital.- 6 Natural capital and economic growth.- 7 Concluding remarks.- II: Sustaining Growth of the Ukrainian Economy.- 5 Is the Economic Growth in Ukraine Sustainable?.- 1 Introduction.- 2 Short history of economic decline/growth in Ukraine.- 3 Decomposition of growth trend by components of global demand and by sectors.- 4 Hypotheses concerning sources and sustainability of economic growth. Experience of other transition countries.- 5 Concluding remarks.- 6 Is there Any Economic Growth in Ukraine?.- 7 Economic Growth in Ukraine: What if Reforms and Economic Recovery Had Started Earlier?.- 1 Summary.- 2 Introduction.- 3 Actual economic performance in transition.- 4 Methodology of counterfactual simulations.- 5 Results and interpretation.- 6 Policy recommendations.- 8 Finance and Growth in Ukraine.- 1 Introduction.- 2 Availability of finance for investments.- 3 How to improve availability of finance.- 9 Fiscal and Regulatory Causes of Ukraine’s Shadow Economy.- 1 Introduction.- 2 A currency-demand-for-money model to estimate the shadow economy.- 3 Comparison with estimates based on electricity consumption.- 4 Conclusions.- III: Institutions, Competition, and Growth.- 10 Enterprise Restructuring under Economic Growth in the Byelorussian Republic.- 1 Introduction.- 2 Conditions for economic growth in the Byelorussian Republic.- 3 Restructuring of industrial enterprises in Belarus.- 4 Conclusions.- 11 Performance of Small and Medium Sized Manufacturing Firms in Ukraine: Does the Quality of Governance Matter?.- 1 Introduction.- 2 Business environment for SMEs in Ukraine.- 3 The quality of governance and SME development.- 4 Data.- 5 Estimation equation and variables.- 6 Regression results.- 7 Conclusions and policy implications.- 12 The Investment Environment in Russia and Ukraine: Common Weaknesses in the Institutional and Policy Framework.- 1 FDI as an engine of growth.- 2 What constitutes the enabling framework?.- 3 To what extent are Russia and Ukraine reaping the potential benefits of FDI?.- 4 FDI flows to developing and transition countries.- 5 What are the reasons for these low shares of FDI in Russia and Ukraine?.- 6 OECD reviews of the investment environment in Russia and Ukraine - analytical approach and fundamental questions posed.- 7 Conclusions - Implementation and follow-up of reforms and the need to strengthen competition.- 13 Ukraine: “A Miracle in Waiting”. Challenges and Reforms for an Improved Foreign Investment Environment.- 1 Summary.- 2 Overview.- 3 Major challenges.- 4 and first achievements.- 5 Foreign direct investment in Ukraine today.- 6 Legal and institutional changes.- 7 The way ahead in reforms.- 8 OECD recommendations.- 9 Conclusion.- IV: Empirical Studies of the Determinants of Growthin Ukraine.- 14 Reserve Requirements and Implicit Taxation of Commercial Banks in Ukraine.- 1 Introduction.- 2 The role of reserve requirements.- 3 The impact of reserve requirements on the private sector.- 4 Reserve requirements in Ukraine.- 5 Conclusions.- 15 Efficient Infrastructure Supply as a Condition for Economic Development - The Case of Ukraine.- 1 Introduction.- 2 How infrastructure development is currently monitored?.- 3 Results of a more detailed assessment.- 4 Conclusions and policy recommendations.- 16 A Regional Agricultural Trade Model for Wheat and Sunflower Seeds in Ukraine.- 1 Introduction.- 2 Excessive marketing costs and social welfare losses.- 3 A regional agricultural trade model.- 4 Model scenarios.- 5 Conclusions.- 17 The Economic Implications of Ukrainian Government Support for the Steel Industry.- 1 Introduction.- 2 The role of the steel industry in Ukraine’s economy and the government support it receives.- 3 The theoretical and methodological framework for measuring the economic and welfare implications of government policies.- 4 Estimating the results for the Ukrainian case.- 5 Conclusions and policy implications.- 18 The Relationship between Foreign Direct Investment and Trade Flows in a Transition Economy: The Case of Ukraine.- 1 Summary.- 2 Introduction.- 3 Peculiarities of FDI flows in Ukraine: Initial evidence.- 4 Main hypotheses.- 5 Empirical study.- 6 Impact of FDI on trade diversification.- 7 Closing remarks.- 19 The Debt Structure of Ukrainian Firms.- 1 Introduction.- 2 The distribution of the debt stocks.- 3 Changes in the debt structure.- 4 The skewness of indebtedness.- 5 Conclusions.- 20 A Restructuring Trap in Transition Economies: Where Does it Lead?.- 1 Introduction.- 2 Theoretical background.- 3 A game theory approach.- 4 Empirical testing.- 5 Conclusions.- 21 The Feasibility of Monetary Targeting in Ukraine.- 1 Introduction.- 2 Review of the strategies for monetary policy.- 3 Theoretical background.- 4 Methodology.- 5 Empirical results and interpretation.- 6 Conclusions and policy implications.- The Authors.- Maps.- Tables.- Graphs.- Abbreviations.