Economic Efficiency in Transition: The Case of Ukraine
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.
Volume (Year): 4 (2006)
Issue (Month): 2 ()
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- Matjaz Novak, 2003. "Analysis of the Nature of Economic Growth of Slovenian Economy," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 1(2), pages 153-167.
- William Easterly & Stanley Fischer, 1994.
"The Soviet Economic Decline: Historical and Republican Data,"
NBER Working Papers
4735, National Bureau of Economic Research, Inc.
- Easterly, William & Fischer, Stanley & DEC, 1994. "The Soviet economic decline : historical and republican data," Policy Research Working Paper Series 1284, The World Bank.
- D. W. Jorgenson & Z. Griliches, 1967. "The Explanation of Productivity Change," Review of Economic Studies, Oxford University Press, vol. 34(3), pages 249-283.
- Costello, Donna M, 1993. "A Cross-Country, Cross-Industry Comparison of Productivity Growth," Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 207-22, April.
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