Economic transformation in the former Soviet Union has been arduous with substantial declines in output and welfare. Even in this unfortunate lot, Ukraine stands out as one of the least successful countries in its attempts to become a productive market economy. The purpose of this paper is to try to determine why Ukraine has not been more auspicious in its attempts at economic reform.
The debate about international financial architecture is ending in a whimper. This is too bad for Asian voters and for Asian democracies. Financial faults both at home and abroad were the seeds of the Asian crisis. But it was nurtured by unfortunate politics in Thailand, Indonesia and Korea. The end of the crisis should not mean the end of efforts to make political life a part of the solution.