Abstract
In terms of population, Ukraine is the second largest of the successor-states (approximately 25 million inhabitants). It has a developed industry based on deposits of coal and iron ore, and its geographical position is conducive to highly-efficient agriculture. Since the dissolution of the USSR, and its declaration of independence, Ukraine has embarked on the road of market reform, which entails the opening of the economy, allowing for a free flow of goods, labour and entrepreneurial capital. The inflow of the latter, in particular, is increasingly perceived as a catalyst in transforming Ukraine from Kornai’s ‘shortage’ economy to a Western-type ‘pressure’ economy, which operates under hard rather than soft budget constraints.KeywordsForeign InvestmentJoint VentureForeign PartnerSoft Budget ConstraintEntrepreneurial CapitalThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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