How Ukraine Became a Market Economy and Democracy

One of Europe's old nations steeped in history, Ukraine is today an undisputed independent state. It is a democracy and has transformed into a market economy with predominant private ownership. Ukraine's postcommunist transition has been one of the most protracted and socially costly, but it has taken the country to a desirable destination.

Åslund's vivid account of Ukraine's journey begins with a brief background, where he discusses the implications of Ukraine's history, the awakening …