Book Description

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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Data Disclosure

The data underlying the figures in this analysis are available in Excel in a zip file.


Selected chapters and sections are provided for preview only.




I A Strategy of Radical and Comprehensive Reform

1. Introduction: Ukraine on the Precipice

2. Why Ukraine Can and Should Opt for Radical Reforms Now

3. Ukraine Needs Europe as a Model and International Anchor

II What Went Wrong

4. Nation Building But Little Reform, 1991–2010

5. The Yanukovych Regime: The Ultimate Predation, 2010–14

III How to Fix It

6. Euromaidan and the Demise of the Yanukovych Regime, November 2013 to February 2014

7. Political Reform Must Come First

8. Next Comes Reform of Ukraine's State

9. Achieving Financial Stability and Sustainability

10. Cleaning Up the Energy Sector

11. Social Policy Cannot Wait

12. Conclusion References Notable Politicians and Businessmen

Chronology of Events



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