02046cas a2200241 a 4500 AALejournalIMF009064 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451864274 1018-5941 BD-DhAAL BD-DhAAL Tiffin, Andrew. Ukraine : The Cost of Weak Institutions / Andrew Tiffin. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (29 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Ukraine has the potential to be a very wealthy country. It has a well-educated workforce, some of the best agricultural land in the world, an enviable supply of hydrocarbons and minerals, and a relatively well-developed infrastructure. Despite these advantages, however, Ukraine's per capita income remains low. Using a cross-country stochastic-frontier framework, this paper argues that Ukraine's failure to tap its full potential is mainly a result of its market-unfriendly institutional base. With an inherited Soviet framework that is ill suited to the needs of a market economy, Ukraine has been slow to establish the institutions needed to use its resources efficiently. The paper provides a quantitative guide to the benefits, in terms of potential output, of further structural reform. Looking forward, the study finds that durable growth in Ukraine will depend primarily on the authorities' ability to implement their ambitious reform agenda, and thereby to help secure the basic foundations of a modern market economy. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2006/167 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/167/001.2006.issue-167-en.xml IMF e-Library