HOME PAGE Welcome to the site of Economy and Forecasting journal

№ 2016/2

Creative discussions on systemic problems of social development

HEYETS Valeriy M.1

1Institute for Economics and Forecasting, NAS of Ukraine

25 years of reforms. What next?

Ekon. prognozuvannâ 2016; 2:5-6https://doi.org/10.15407/eip2016.02.005


Results of transformations in Ukraine's economy during its independence make controversial thoughts at the time of its quarter-of-a-century anniversary. On one hand, in all this time Ukraine's economy has not been able to restore its GDP to the pre-1990 level, moving along the path of de-industrialization and substantial lowering of the living standards of its population. On the other hand, at the end of 2005 the EU and the US (in 2006) officially recognized Ukraine's market economy status. It has been one of the most important results to us, as at the beginning of the transformations the majority of our population had no idea about the essence of the market as a format of functioning of modern economy, institutionally dominated by private property. By the way, it has taken western world more than five hundred years to reform that institution to its modern type with relevant forms of capitalist entrepreneurship.

Keywords: independence of Ukraine, transformations


Article in English (pp. 5 - 6) DownloadDownloads :250