Ukraine suffered unprecedented political, economic, and military turmoil following Russia's annexation of Crimea in early 2014. Russian military aggression in the east and a legacy of destructive policies and corruption have created an imminent existential crisis for this young democracy. Yet Ukraine also has a great opportunity to break out of economic underperformance. In this study, Anders Åslund, one of the world's leading experts on Ukraine, traces Ukraine's evolution as a market economy starting with the fall of communism and examines the economic impact of its recent difficulties. Åslund argues that Ukraine must undertake sweeping political, economic, social, and government reforms to achieve prosperity and independence. For its part, the West must abandon its hesitant approach and provide broad economic assistance to help Ukraine transform itself.
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Anders Åslund was a senior fellow at the Peterson Institute for International Economics from 2006 to May 2015. He examined the economic policies of Russia, Ukraine, and Eastern Europe, as well as the broader implications of economic transition. Åslund served as an economic adviser to the governments of Russia in 1991-94 and Ukraine in 1994-97. He is a leading specialist on postcommunist economic transformation with more than 30 years of experience in the field.
No Western analyst has been more involved with or written more on Ukrainian economic reform than Aslund. Here, he offers a manual of sorts on what the Ukrainian government and its international benefactors must do if Ukraine is to claw its way out of its current economic crisis. --Foreign Affairs
As the conflict continues in Ukraine with international media outlets painting an unequivocally pessimistic situation, Anders Aslund argues that Ukraine s political class is facing an opportunity to make things right on the economic and administrative front. --Global Risk Insights
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