Ukraine - Country Economic Memorandum : Strategic Choices to Accelerate and Sustain Growth

dc.creatorWorld Bank
dc.date2012-03-19T10:24:21Z
dc.date2012-03-19T10:24:21Z
dc.date2010-08-31
dc.date.accessioned2026-07-01T01:04:37Z
dc.descriptionThis report undertakes a comprehensive assessment of Ukraine's growth experience over the past decade. It shows how vulnerabilities were allowed to accumulate during the economic boom. And how growth, averaging seven percent annually between 2000 and 2008, was achieved without tackling Ukraine's well known weaknesses in the investment climate and public sector governance. The report also traces the emergence of large structural fiscal deficits and fiscal pressures since 2004, as buoyant revenues and terms of trade gains masked an increasingly unsustainable fiscal position. It shows how international excess liquidity allowed Ukraine to attract vast capital flows, intermediated through the banking system, while financial sector regulation remained inadequate. And it analyzes how a poor investment climate, low competitive pressures, limited innovation and slow structural transformation of the economy are all interlinked and perpetuate Ukraine's dependence on a few commodity based exports. Consequently, the report argues, the route to sustained recovery in Ukraine lies in deepening key reforms. The report carries out an in-depth diagnostic of Ukraine's growth drivers at the macro, sector and firm-level and derives key constraints to sustained growth from this analysis. The recommendations point to three main challenges that deserve priority attention if Ukraine is to re-launch its economy on a sustained growth path. First, Ukraine has to tackle its fiscal crisis to restore macroeconomic credibility and create fiscal space for investments needed to support private sector growth. Second, Ukraine needs to improve its investment climate and fix the financial system to attract private sector investment. Third, Ukraine needs to tackle the problems with public sector governance through deep public sector, judicial and administrative reforms. Since this is a large agenda, the analysis identifies short and medium term priorities. The report also argues that the key reforms highlighted above are closely interlinked and that cosmetic and halfway measures will not do.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000334955_20100927022217
dc.identifierhttps://hdl.handle.net/10986/2905
dc.identifierhttps://doi.org/10.1596/2905
dc.identifier.urihttp://hdl.handle.net/123456789/415005
dc.languageEnglish
dc.publisherWorld Bank
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCOUNTING
dc.subjectADVANCED ECONOMIES
dc.subjectAGRICULTURAL COMMODITIES
dc.subjectARREARS
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE SHEETS
dc.subjectBANK BORROWING
dc.subjectBANK OPERATIONS
dc.subjectBANK SUPERVISION
dc.subjectBANKING SECTOR
dc.subjectBANKING SECTOR ASSETS
dc.subjectBANKING SYSTEM
dc.subjectBANKRUPTCY
dc.subjectBARRIERS TO ENTRY
dc.subjectBENEFICIARY
dc.subjectBUSINESS ENVIRONMENT
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL INVESTMENTS
dc.subjectCAPITAL STOCK
dc.subjectCASH BALANCE
dc.subjectCOMMERCIAL BANK
dc.subjectCOMMERCIAL BANK LENDING
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICES
dc.subjectCOMPANY LAW
dc.subjectCOMPLIANCE COSTS
dc.subjectCONFLICT OF INTEREST
dc.subjectCONSUMER DURABLES
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONTRACT ENFORCEMENT
dc.subjectCORPORATE DEBT
dc.subjectCORPORATE GOVERNANCE
dc.subjectCREDIBILITY
dc.subjectCREDIT GROWTH
dc.subjectCREDIT POLICIES
dc.subjectCREDIT RISK
dc.subjectCURRENCY
dc.subjectDEBT ACCUMULATION
dc.subjectDEBT LEVEL
dc.subjectDEBT SERVICE
dc.subjectDEMOCRACY
dc.subjectDEMOGRAPHIC
dc.subjectDEPOSIT
dc.subjectDEPOSITORS
dc.subjectDEPOSITS
dc.subjectDEVALUATION
dc.subjectDEVELOPING ECONOMIES
dc.subjectDOMESTIC BANKS
dc.subjectDOMESTIC MARKET
dc.subjectDOUBLE TAXATION
dc.subjectDURABLE
dc.subjectDURABLE GOODS
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectECONOMIC DOWNTURN
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET ECONOMIES
dc.subjectEMERGING MARKETS
dc.subjectENTERPRISE PERFORMANCE
dc.subjectENTRY BARRIERS
dc.subjectEQUIPMENT
dc.subjectEXCESS LIQUIDITY
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE REGIME
dc.subjectEXPANSIONARY FISCAL POLICY
dc.subjectEXPANSIONARY MONETARY POLICIES
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORT GROWTH
dc.subjectEXPORT SECTORS
dc.subjectEXPORTERS
dc.subjectEXTERNAL BORROWING
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL FINANCE
dc.subjectEXTERNAL FINANCING
dc.subjectEXTERNAL FUNDING
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SYSTEM
dc.subjectFIRM GROWTH
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFIXED CAPITAL
dc.subjectFIXED INVESTMENT
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN CURRENCIES
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE RESERVES
dc.subjectFOREIGN EXCHANGE RISKS
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN INVESTORS
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBAL TRADE
dc.subjectGLOBALIZATION
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT REGULATION
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH RATES
dc.subjectGUARANTEE FUND
dc.subjectINCOME LEVEL
dc.subjectINCOME LEVELS
dc.subjectINCOME TAX
dc.subjectINFLATION
dc.subjectINFRASTRUCTURE INVESTMENT
dc.subjectINFRASTRUCTURE INVESTMENTS
dc.subjectINSURANCE
dc.subjectINTELLECTUAL PROPERTY
dc.subjectINTERNAL AUDIT
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL CAPITAL MARKETS
dc.subjectINTERNATIONAL FINANCIAL INSTITUTION
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT CLIMATE REFORMS
dc.subjectINVESTOR CONFIDENCE
dc.subjectJOINT STOCK COMPANY
dc.subjectJUDICIAL SYSTEM
dc.subjectLABOR MARKET
dc.subjectLACK OF COMPETITION
dc.subjectLACK OF TRANSPARENCY
dc.subjectLAND POLICY
dc.subjectLAND TITLING
dc.subjectLEGAL IMPEDIMENTS
dc.subjectLEGAL SYSTEM
dc.subjectLEGISLATIVE FRAMEWORK
dc.subjectLIVING STANDARDS
dc.subjectLOAN
dc.subjectLOAN PORTFOLIO
dc.subjectLOCAL INVESTORS
dc.subjectLONG-TERM INVESTMENTS
dc.subjectMACROECONOMIC INSTABILITY
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC STABILITY
dc.subjectMARKET ACCESS
dc.subjectMARKET ECONOMY
dc.subjectMARKET REFORMS
dc.subjectMARKET SHARE
dc.subjectMATURITY
dc.subjectMATURITY STRUCTURE
dc.subjectMICRO DATA
dc.subjectMONETARY AUTHORITIES
dc.subjectMONETARY POLICIES
dc.subjectMONETARY POLICY
dc.subjectMONEY SUPPLY
dc.subjectMORTGAGE
dc.subjectMORTGAGE PORTFOLIO
dc.subjectMORTGAGES
dc.subjectMULTINATIONAL CORPORATION
dc.subjectNATIONAL BANK
dc.subjectNATIONAL SAVINGS
dc.subjectNATURAL RESOURCES
dc.subjectNEGATIVE SHOCKS
dc.subjectNON-PERFORMING LOANS
dc.subjectNPL
dc.subjectOIL PRICES
dc.subjectOUTPUT
dc.subjectOUTPUTS
dc.subjectPENSION
dc.subjectPENSION EXPENDITURES
dc.subjectPENSION FUND
dc.subjectPENSION REFORM
dc.subjectPENSION SYSTEM
dc.subjectPENSIONS
dc.subjectPERSONAL INCOME
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL POWER
dc.subjectPORTFOLIO INVESTMENT
dc.subjectPORTFOLIO INVESTMENTS
dc.subjectPOWER PARITY
dc.subjectPRICE STABILITY
dc.subjectPRICE VOLATILITY
dc.subjectPRIVATE CAPITAL
dc.subjectPRIVATE CAPITAL INFLOWS
dc.subjectPRIVATE DEBT
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE INVESTMENTS
dc.subjectPRIVATE SECTOR CREDIT
dc.subjectPRIVATE SECTOR GROWTH
dc.subjectPRIVATIZATION
dc.subjectPROPERTY RIGHTS
dc.subjectPROPERTY RIGHTS PROTECTION
dc.subjectPRUDENTIAL REGULATION
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC INVESTMENTS
dc.subjectPURCHASING POWER
dc.subjectREAL ESTATE
dc.subjectREAL EXCHANGE RATE
dc.subjectREGULATOR
dc.subjectREGULATORY FRAMEWORK
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRULE OF LAW
dc.subjectSAFETY NET
dc.subjectSAFETY NETS
dc.subjectTAX EXEMPTIONS
dc.subjectTAX POLICY
dc.subjectTAX RATES
dc.subjectTAX SYSTEM
dc.subjectTRANSACTION
dc.subjectTRANSPARENCY
dc.subjectTREASURY
dc.subjectTREATIES
dc.subjectTURNOVER
dc.subjectWAGE GROWTH
dc.subjectWORKING CAPITAL
dc.subjectWORLD TRADE
dc.titleUkraine - Country Economic Memorandum : Strategic Choices to Accelerate and Sustain Growth

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