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Reforms and Performance under Kuchma 1994–2004

In: The Political Economy of Independent Ukraine

Author

Listed:
  • Oleh Havrylyshyn

    (University of Toronto)

Abstract

The presidency of Kravchuk was marked particularly by the long delay in economic reforms with many negative consequences. The Kuchma presidency can be characterized as Janus faced: a serious reform effort putting Ukraine into the category of at least a partial capitalist-market economy but paradoxically, also the consolidation of oligarchic power and influence which resulted in a halt to reform progress. True, the reforms were significant (Fig. 3.1) and, unlike in Russia after 1999, were not reversed Success was also evident in financial stabilization bringing monthly inflation down to single digits by 1995 and paving the way to a new currency, the hryvnia, in September 1996.

Suggested Citation

  • Oleh Havrylyshyn, 2017. "Reforms and Performance under Kuchma 1994–2004," Studies in Economic Transition, in: The Political Economy of Independent Ukraine, chapter 5, pages 85-108, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-1-137-57690-3_5
    DOI: 10.1057/978-1-137-57690-3_5
    as

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