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

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collection.link.76
https://openknowledge.worldbank.org/handle/10986/2184
collection.name.76
Country Economic Memorandum
dc.contributor.author
World Bank
dc.date.accessioned
2012-03-19T10:24:21Z
dc.date.available
2012-03-19T10:24:21Z
dc.date.issued
2010-08-31
dc.date.lastModified
2021-04-23T14:02:05Z
dc.description.abstract
This 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.
en
dc.identifier
http://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.identifier.uri
http://hdl.handle.net/10986/2905
dc.language
English
dc.publisher
World Bank
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCOUNTING
dc.subject
ADVANCED ECONOMIES
dc.subject
AGRICULTURAL COMMODITIES
dc.subject
ARREARS
dc.subject
BALANCE OF PAYMENTS
dc.subject
BALANCE SHEETS
dc.subject
BANK BORROWING
dc.subject
BANK OPERATIONS
dc.subject
BANK SUPERVISION
dc.subject
BANKING SECTOR
dc.subject
BANKING SECTOR ASSETS
dc.subject
BANKING SYSTEM
dc.subject
BANKRUPTCY
dc.subject
BARRIERS TO ENTRY
dc.subject
BENEFICIARY
dc.subject
BUSINESS ENVIRONMENT
dc.subject
CAPITAL FLOWS
dc.subject
CAPITAL INFLOWS
dc.subject
CAPITAL INVESTMENTS
dc.subject
CAPITAL STOCK
dc.subject
CASH BALANCE
dc.subject
COMMERCIAL BANK
dc.subject
COMMERCIAL BANK LENDING
dc.subject
COMMERCIAL BANKS
dc.subject
COMMODITY
dc.subject
COMMODITY PRICE
dc.subject
COMMODITY PRICES
dc.subject
COMPANY LAW
dc.subject
COMPLIANCE COSTS
dc.subject
CONFLICT OF INTEREST
dc.subject
CONSUMER DURABLES
dc.subject
CONSUMER PRICE INDEX
dc.subject
CONTRACT ENFORCEMENT
dc.subject
CORPORATE DEBT
dc.subject
CORPORATE GOVERNANCE
dc.subject
CREDIBILITY
dc.subject
CREDIT GROWTH
dc.subject
CREDIT POLICIES
dc.subject
CREDIT RISK
dc.subject
CURRENCY
dc.subject
DEBT ACCUMULATION
dc.subject
DEBT LEVEL
dc.subject
DEBT SERVICE
dc.subject
DEMOCRACY
dc.subject
DEMOGRAPHIC
dc.subject
DEPOSIT
dc.subject
DEPOSITORS
dc.subject
DEPOSITS
dc.subject
DEVALUATION
dc.subject
DEVELOPING ECONOMIES
dc.subject
DOMESTIC BANKS
dc.subject
DOMESTIC MARKET
dc.subject
DOUBLE TAXATION
dc.subject
DURABLE
dc.subject
DURABLE GOODS
dc.subject
ECONOMIC CRISIS
dc.subject
ECONOMIC DEVELOPMENT
dc.subject
ECONOMIC DEVELOPMENTS
dc.subject
ECONOMIC DOWNTURN
dc.subject
EMERGING ECONOMIES
dc.subject
EMERGING MARKET
dc.subject
EMERGING MARKET ECONOMIES
dc.subject
EMERGING MARKETS
dc.subject
ENTERPRISE PERFORMANCE
dc.subject
ENTRY BARRIERS
dc.subject
EQUIPMENT
dc.subject
EXCESS LIQUIDITY
dc.subject
EXCHANGE RATE
dc.subject
EXCHANGE RATE REGIME
dc.subject
EXPANSIONARY FISCAL POLICY
dc.subject
EXPANSIONARY MONETARY POLICIES
dc.subject
EXPENDITURE
dc.subject
EXPENDITURES
dc.subject
EXPORT GROWTH
dc.subject
EXPORT SECTORS
dc.subject
EXPORTERS
dc.subject
EXTERNAL BORROWING
dc.subject
EXTERNAL DEBT
dc.subject
EXTERNAL FINANCE
dc.subject
EXTERNAL FINANCING
dc.subject
EXTERNAL FUNDING
dc.subject
FINANCIAL CRISIS
dc.subject
FINANCIAL INFORMATION
dc.subject
FINANCIAL MANAGEMENT
dc.subject
FINANCIAL MARKET
dc.subject
FINANCIAL MARKETS
dc.subject
FINANCIAL SECTOR
dc.subject
FINANCIAL SYSTEM
dc.subject
FIRM GROWTH
dc.subject
FISCAL DEFICIT
dc.subject
FISCAL DEFICITS
dc.subject
FISCAL POLICIES
dc.subject
FISCAL POLICY
dc.subject
FIXED CAPITAL
dc.subject
FIXED INVESTMENT
dc.subject
FOREIGN BANKS
dc.subject
FOREIGN CURRENCIES
dc.subject
FOREIGN CURRENCY
dc.subject
FOREIGN DIRECT INVESTMENT
dc.subject
FOREIGN EXCHANGE
dc.subject
FOREIGN EXCHANGE RESERVES
dc.subject
FOREIGN EXCHANGE RISKS
dc.subject
FOREIGN INVESTMENT
dc.subject
FOREIGN INVESTORS
dc.subject
GLOBAL ECONOMY
dc.subject
GLOBAL TRADE
dc.subject
GLOBALIZATION
dc.subject
GOVERNMENT DEBT
dc.subject
GOVERNMENT REGULATION
dc.subject
GROSS DOMESTIC PRODUCT
dc.subject
GROWTH RATES
dc.subject
GUARANTEE FUND
dc.subject
INCOME LEVEL
dc.subject
INCOME LEVELS
dc.subject
INCOME TAX
dc.subject
INFLATION
dc.subject
INFRASTRUCTURE INVESTMENT
dc.subject
INFRASTRUCTURE INVESTMENTS
dc.subject
INSURANCE
dc.subject
INTELLECTUAL PROPERTY
dc.subject
INTERNAL AUDIT
dc.subject
INTERNATIONAL CAPITAL
dc.subject
INTERNATIONAL CAPITAL MARKETS
dc.subject
INTERNATIONAL FINANCIAL INSTITUTION
dc.subject
INVESTMENT CLIMATE
dc.subject
INVESTMENT CLIMATE REFORMS
dc.subject
INVESTOR CONFIDENCE
dc.subject
JOINT STOCK COMPANY
dc.subject
JUDICIAL SYSTEM
dc.subject
LABOR MARKET
dc.subject
LACK OF COMPETITION
dc.subject
LACK OF TRANSPARENCY
dc.subject
LAND POLICY
dc.subject
LAND TITLING
dc.subject
LEGAL IMPEDIMENTS
dc.subject
LEGAL SYSTEM
dc.subject
LEGISLATIVE FRAMEWORK
dc.subject
LIVING STANDARDS
dc.subject
LOAN
dc.subject
LOAN PORTFOLIO
dc.subject
LOCAL INVESTORS
dc.subject
LONG-TERM INVESTMENTS
dc.subject
MACROECONOMIC INSTABILITY
dc.subject
MACROECONOMIC POLICIES
dc.subject
MACROECONOMIC STABILITY
dc.subject
MARKET ACCESS
dc.subject
MARKET ECONOMY
dc.subject
MARKET REFORMS
dc.subject
MARKET SHARE
dc.subject
MATURITY
dc.subject
MATURITY STRUCTURE
dc.subject
MICRO DATA
dc.subject
MONETARY AUTHORITIES
dc.subject
MONETARY POLICIES
dc.subject
MONETARY POLICY
dc.subject
MONEY SUPPLY
dc.subject
MORTGAGE
dc.subject
MORTGAGE PORTFOLIO
dc.subject
MORTGAGES
dc.subject
MULTINATIONAL CORPORATION
dc.subject
NATIONAL BANK
dc.subject
NATIONAL SAVINGS
dc.subject
NATURAL RESOURCES
dc.subject
NEGATIVE SHOCKS
dc.subject
NON-PERFORMING LOANS
dc.subject
NPL
dc.subject
OIL PRICES
dc.subject
OUTPUT
dc.subject
OUTPUTS
dc.subject
PENSION
dc.subject
PENSION EXPENDITURES
dc.subject
PENSION FUND
dc.subject
PENSION REFORM
dc.subject
PENSION SYSTEM
dc.subject
PENSIONS
dc.subject
PERSONAL INCOME
dc.subject
POLITICAL ECONOMY
dc.subject
POLITICAL POWER
dc.subject
PORTFOLIO INVESTMENT
dc.subject
PORTFOLIO INVESTMENTS
dc.subject
POWER PARITY
dc.subject
PRICE STABILITY
dc.subject
PRICE VOLATILITY
dc.subject
PRIVATE CAPITAL
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PRIVATE CAPITAL INFLOWS
dc.subject
PRIVATE DEBT
dc.subject
PRIVATE INVESTMENT
dc.subject
PRIVATE INVESTMENTS
dc.subject
PRIVATE SECTOR CREDIT
dc.subject
PRIVATE SECTOR GROWTH
dc.subject
PRIVATIZATION
dc.subject
PROPERTY RIGHTS
dc.subject
PROPERTY RIGHTS PROTECTION
dc.subject
PRUDENTIAL REGULATION
dc.subject
PUBLIC DEBT
dc.subject
PUBLIC FINANCE
dc.subject
PUBLIC FINANCES
dc.subject
PUBLIC INVESTMENTS
dc.subject
PURCHASING POWER
dc.subject
REAL ESTATE
dc.subject
REAL EXCHANGE RATE
dc.subject
REGULATOR
dc.subject
REGULATORY FRAMEWORK
dc.subject
RETURN
dc.subject
RETURNS
dc.subject
RULE OF LAW
dc.subject
SAFETY NET
dc.subject
SAFETY NETS
dc.subject
TAX EXEMPTIONS
dc.subject
TAX POLICY
dc.subject
TAX RATES
dc.subject
TAX SYSTEM
dc.subject
TRANSACTION
dc.subject
TRANSPARENCY
dc.subject
TREASURY
dc.subject
TREATIES
dc.subject
TURNOVER
dc.subject
WAGE GROWTH
dc.subject
WORKING CAPITAL
dc.subject
WORLD TRADE
dc.title
Ukraine - Country Economic Memorandum : Strategic Choices to Accelerate and Sustain Growth
en
okr.date.disclosure
2010-10-01
okr.doctype
Economic & Sector Work :: Country Economic Memorandum
okr.docurl
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000334955_20100927022217
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Finance and Markets
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000334955_20100927022217
okr.identifier.internaldocumentum
12806057
okr.identifier.report
55895
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/09/27/000334955_20100927022217/Rendered/PDF/558950ESW0UA0p1Official0use0only191.pdf
en
okr.region.administrative
Europe and Central Asia
okr.region.country
Ukraine
okr.region.geographical
Europe
okr.region.geographical
Eastern Europe
okr.region.geographical
Commonwealth of Independent States
okr.sector
Health
okr.sector
General public administration sector
okr.sector
General industry and trade sector
okr.sector
General finance sector
okr.sector
General education sector
okr.sector
Health and other social services
okr.sector
Public Administration
okr.sector
Law
okr.sector
Public Administration, Law, and Justice
okr.sector
Industry and trade
okr.sector
Finance
okr.sector
Education
okr.topic
Finance and Financial Sector Development :: Debt Markets
okr.topic
Finance and Financial Sector Development :: Banks & Banking Reform
okr.topic
Private Sector Development :: Emerging Markets
okr.topic
Macroeconomics and Economic Growth :: Economic Theory & Research
okr.topic
Finance and Financial Sector Development :: Access to Finance
okr.unit
Poverty Reduction/Econ Mngmt (ECSPE)
okr.volume
1 of 1

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