Archive 2008

• 12.12.2008

  Developing the market for foreign exchange derivates in Ukraine: Sequencing the reform steps

  (Code:PP_09_2008)

  In April 2008 the National Bank of Ukraine abandoned its policy of a (de facto) fixed exchange rate to the US dollar. The change towards a flexible exchange rate was the right move for fighting inflation back in April 2008 and has since November 2008 become an indispensable and effective instrument for combating the negative effects of the global financial crisis in Ukraine.

  Authors:  Kobylyanska Alla, Кірхнер Роберт, Джуччі Рікардо
  Tags:  Center of economic research, German Advisory Group
  Research spheres:  Monetary policy and financial markets, Fiscal and Social Policy
• 06.11.2008

  Deposit Insurance in Ukraine: Time for Reform?

  (Code:PP_08_2008)

  The recent international financial crisis has also hit the Ukrainian banking system. The withdrawal of deposits, a weakening of the hryvnia (UAH) and ownership conflicts around Ukraine's sixth largest bank, Prominvestbank, caused liquidity problems and led to panic purchases of foreign currency in the population. As an answer to these problems, the NBU issued a legal act that brought important temporary changes to the system, among them a suspension of early deposit withdrawal.

  Authors:  Kravchuk Vitaliy, Штеден Філіп, Кірхнер Роберт, Джуччі Рікардо
  Tags:  Center of economic research, German Advisory Group
  Research spheres:  Fiscal and Social Policy, Monetary policy and financial markets
• 30.10.2008

  Principles and methods of targeted social assistance: Recommendations for Ukraine

  (Code:PP_07_2008)

  Ukraine lacks an efficient system of social assistance. Most social benefits are provided either as in-kind benefits or on a universal basis. The urban population benefited more from the strong economic growth in recent years than the rural population. Poverty became more rural.

  Authors:  Betliy Oleksandra, Handrich Lars
  Tags:  Center of economic research, German Advisory Group
  Research spheres:  Fiscal and Social Policy
• 29.10.2008

  How to deal with "European gas prices" in Ukraine?

  (Code:PP_06_2008)

  In a recent Memorandum of Understanding between the Prime Ministers of Ukraine and the Russian Federation, both side accepted adjustments of gas import prices towards the level of "European gas prices" within a transition period of three years, in exchange for "European fees" for gas transit through Ukraine. Against this background, this paper argues that "European gas prices" in Ukraine should be determined by the replacement value of gas shipments in Europe minus the transit costs from Ukraine to EU markets.

  Authors:  Pavel Ferdinand, Юзефович Інна
  Tags:  Center of economic research, German Advisory Group
  Research spheres:  Infrastructure, Real sector
• 24.10.2008

  Inflation in Ukraine: Results and Policy Implications of an Empirical Study

  (Code:PP_05_2008)

  The paper presents the results of empirical models of inflation dynamics in Ukraine over 1999 - 2008. Its objective is to shed light on the sources of inflation during this period, as there is widespread disagreement among policy makers and analysts about the concrete underlying reason(s).

  Authors:  Вебер Енцо, Кірхнер Роберт, Джуччі Рікардо
  Tags:  Center of economic research, German Advisory Group
  Research spheres:  Macroeconomics, Monetary policy and financial markets
• 15.10.2008

  The Housing Construction Sector in Ukraine: Reasons for the Current Recession and Policy Implications

  (Code:PP_04_2008)

  Since the year 2000 the housing construction sector in Ukraine enjoyed very favourable macroeconomic conditions. High liquidity led to relatively low interest rates, while real incomes increased rapidly, thus supporting strong demand for housing. On top, ever increasing housing prices ensured an additional speculative demand for housing. As a result of this particular macroeconomic constellation, the housing construction sector performed very well.

  Authors:  Возняк Роман, Кірхнер Роберт, Джуччі Рікардо
  Tags:  Center of economic research, German Advisory Group
  Research spheres:  Real sector
• 09.08.2008

  The Determinants of Dairy Farming Competitiveness in Ukraine

  (Code:AgPP23)

  WTO accession and the expected free trade agreement with the EU pose significant challenges for Ukrainian agriculture, implying structural changes for the sector as well as adaptations at the farm level to improve efficiency and competitiveness. However, a recent study by von Cramon- Taubadel and Nivievskyi demonstrates a clear lack of competitiveness. This directs attention to the forces that drive competitiveness in Ukrainian agriculture.

  Authors:  von Cramon-Taubadel Stephan, Nivievskyi Oleg
  Tags:  Agricultural dialogue, Center for economic research
• 09.08.2008

  Agriholdings in Ukraine: good or bad?

  (Code:AgPP 21)

  Agriholdings are leasing about 17.6% of arable land used by agrarian enterprises in 2008 in Ukraine. This figure will most likely rise to about 25% in 2009.

  Authors:  Demyanenko Serhiy
  Tags:  Agricultural dialogue, Center of economic research
  Research spheres:  Infrastructure
• 09.08.2008

  The EU Dairy Market – Real Opportunities for Ukraine?

  (Code:AgPP19)

  Ukraine has a good potential to become a player on dairy export markets. However, today there are various bottlenecks in the dairy value chain to increase efficiency and sector performance. Russia and the CIS countries remain the main importers of Ukrainian dairy products.

  Authors:  Воге Бернар, Хесс Себастьян, Рижкова Марія
  Tags:  Agricultural dialogue, Center for economic research
• 05.08.2008

  The Policy Interaction between the Government and the National Bank of Ukraine: Assessment of the Current Framework and Policy Recommendations

  (Code:PP_03_2008)

  Monetary and fiscal policies have a strong influence on each other. In most cases, policies of central banks and government are of a complementary nature. Most actions taken by central banks to pursue price stability contribute to long-term fiscal stability, while a solid fiscal policy as a rule equally supports price stability.

  Authors:  Kravchuk Vitaliy, Кірхнер Роберт, Джуччі Рікардо
  Tags:  Center of economic research, German Advisory Group
  Research spheres:  Monetary policy and financial markets, Fiscal and Social Policy