How Ukraine Became a Market Economy and Democracy

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How Ukraine Became a Market Economy and Democracy explores Ukraine's postcommunist transformation from 1991 to 2008, how and why key policy decisions were made, and what Ukraine should do to overcome the ravages of its political and financial crises. The path Ukraine has traveled since 1991, when Ukrainians overwhelmingly voted for their nation's independence, has been turbulent. During this time, it has recorded many achievements, but it has also faltered. Its greatest triumph is that hardly any Ukrainian questions the sovereignty of the state. It has become a democracy, albeit fragile, and is a market economy with predominant private ownership. Despite being one of the last postcommunist countries to opt for serious market economic reforms in the 1990s, it grew at an average of 7.5 percent a year from 2000 to 2007. In this clear, accessible account of Ukraine's political and economic metamorphosis, noted expert on the postcommunist transformation Anders Aslund provides a chronological guide to the evolution of a country known for its diverse regions. Aslund identifies the protagonists and leaders who have formed the country's regimes in this easy-to-read volume and analyzes how constant governmental transitions have affected the country.

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Anders Aslund, known for repeatedly challenging conventional wisdom on transition economies, is a leading specialist on postcommunist economic transformation with more than 30 years of experience in the field. He boldly predicted the fall of the Soviet Union in his Gorbachev's Struggle for Economic Reform (1989). In Building Capitalism: The Transformation of the Former Soviet Bloc (2002) he firmly stated that the only choice Russia had was market reform. He is also the author of Russia's Capitalist Revolution (2007). Dr. Aslund joined the Peterson Institute for International Economics as senior fellow in January 2006. He has worked as an economic adviser to the Russian government (1991-94), to the Ukrainian government, and to the president of the Kyrgyz Republic.