Towards a Political Economy of Ukraine: Selected Essays 1990–2015

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The essays in this book explore the major developments, both domestic and international, that shaped the first quarter-century of Ukraine’s independence: the simultaneous construction of a nation-state and the privatization of its economy; a formal democratization of the political process alongside the capture of state institutions by big business oligarchs; their efforts to gain social acceptance at home while maneuvering between competing Russian, EU, and American projects to hegemonize the region; the impact of the financial crises of 1997 and 2008 on Ukrainian society and the national economy’s place in the world market; the growing inequality of society, the mass revolts in 2004 and 2014 against corruption and injustice; and the beginning of Russian military intervention in Ukraine. List of Tables Acknowledgements Abbreviations Foreword by John-Paul Himka Ukraine: The Issue of National Self-determination The political terrain The republican elections The issues The Ukrainian Parliamentary Elections in March–April 1994 The election law The contestants The election campaign The results Analysis of results Conclusions Leonid Kuchma’s Presidency in Its First Year Conclusion The Ukrainian Economy since Independence Features of the economic decline Foreign trade The Soviet inheritance Agriculture Fuel and energy Industry The costs of separation The costs of transition The commercial banks Trusts and other financial intermediaries Capital accumulation through trade Land privatisation Privatisation of industry, trade and services How much has been privatised? The impact of privatisation on economic performance The economy in the shadows Implications for the state building process Russia, Ukraine and European Integration Russia’s and Ukraine’s experience with democratisation and the market Ukraine, the EU and NAТО Russia, the EU and NATO The interdependence of Russia and Ukraine The end of Ukraine’s “European choice”? And the beginning of а new phase in Russia-Ukraine-EU relations? The European Union’s Perspective on the Ukrainian-Russian Border Migration and settlement Immigration policy, strategy and instruments of the European Union The IOM and the EU on the Ukrainian-Russian border Do Ukraine and Russia agree with the EU’s objectives? Conclusions Trade, Investment and Debt: Ukraine’s Integration into World Markets The state and capitalist development in Ukraine The former Soviet bloc enters the world market Ukraine enters the world economy Trade Investment Debt and the international financial crisis of 1997–98 Conclusion The Ukrainian Economy and the International Financial Crisis The course of the crisis The government’s response Kuchma’s strategy of development From the Orange revolution to the international financial crisis Conclusion Origins of the Ukrainian Crisis The fragility of the Ukrainian state The international isolation of the Ukrainian state The revival of Russian imperialism The Yanukovych presidency The economy Trade Investment Debt Labour migration The zero-sum choice The Maidan The pivotal moment A coup? A fascist junta? The Ukrainian crisis internationalised Russia’s timing and calculations Into the arms of the Western powers The balance of power Conclusions Index