Background for Financial Markets Development in Ukraine

Résumé du livre

This paper presents an overview of the state of financial markets in Ukraine as of year end 1999. The paper is targeted to Ukrainian government officials, but provides useful information for anyone interested in Ukrainian financial markets. The paper contains eleven chapters: rationale and framework for reform; reinvigoration of large-scale privatization; bank reform; securities markets? role in financial markets development; the Government as participant in the financial markets; collective investment institutions and pension reform; corporate governance: restructuring and attracting capital; internationally accepted accounting and auditing practices; taxes, duties, fees and fines; contract enforcement; and increasing investment by restructuring production costs: commodity exchanges, barter, veksels, corruption and the shadow economy. Each chapter analyzes the current situation, provides a brief overview of the suggested theoretical framework for reform, and gives an array of proposed initiatives. The paper also tries to synthesize the relevant academic thinking about the various subject areas and make it available to Ukrainian policymakers in an understandable format. The overall aim of the paper is to stimulate discussion and to encourage serious reform in Ukraine.