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Fall 2013

ISSN 0890-913X

Volume 29, Number 1

Political Economy of Agricultural Market Reform in Ukraine: “Good Bye Lenin”

Leonid A. Krasnozhon, Loyola University New Orleans

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TheJournalofPrivateEnterprise29(1),2013,119–140PoliticalEconomyofAgriculturalMarketReforminUkraine:“GoodByeLenin”LeonidA.Krasnozhon*LoyolaUniversityNewOrleansAbstractGoodresultsdependongoodinstitutions(BoettkeandAnderson,2004).Agoodsystemofprivatepropertyrightsisanessentialingredientofgoodeconomicdevelopment.Whereasalaissez-fairecapitalismassumesthatasystemofprivatepropertyrightsemergesnaturallyinamarketeconomythatallocatespropertyrightsefficiently,thetransitionalexperienceofpostsocialistcountriesdemonstratesthatagovernmentwillsubstituteacentrallyplannedalternativeforsuchaspontaneouslyemergentsystem(McChesney,1990;Rothbard,1962).Oncechargedwithcontrolrights,governmentactorscreatebadinstitutionsthatproducebadeconomicdevelopmentinpost-socialistcountries.Government’scontroloftransitionfromsocialismtowardcapitalismproducedbadinstitutionsandbadeconomicdevelopmentinUkraine.ThispaperexaminestheeffectofagriculturalmarketreformpolicyontheeconomicdevelopmentoftheagriculturalsectorinUkraine,theformerbreadbasketofEurope.JELCodes:D23,D24,D61,P26,R15Keywords:Agriculture;Propertyrights;Privatization;Landreform;UkraineI.IntroductionUkraine’sagriculturewasabletoprovidetheoldcontinentwithfoodinthe19thandearly20thcenturies(Conquest,1986).ThefamousproductioncapacityofUkraine’sagricultureearnedUkrainetheacclaimedstatusofEurope’sbreadbasket.TheformerbreadbasketisimportantfortheworldfoodsupplyagainbecauseUkraineisoneoffourcountries,theothersbeingRussia,Kazakhstan,andArgentina,thathasasignificantproduction*IthankTerryAnderson,DanielBenjamin,WalterBlock,PeterBoettke,DanielD’Amico,PeterJ.Hill,PeterLeeson,RogerMeiners,RandyRucker,FredericSautet,andseminarparticipantsatthePropertyEnvironmentandResearchCenter,Bozeman,MT.IpresentedanearlierversionofthispaperattheAnnualMeetingsoftheAssociationofPrivateEnterpriseandEducationinLasVegas,NV,in2010.IamalsogratefultotheMercatusCenterforfinancialsupport.119

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Title	Political Economy of Agricultural Market Reform in Ukraine: “Good Bye Lenin”
Authors/Creators:	Leonid A. Krasnozhon, Loyola University New Orleans
Year:	2013
Volume:	29
Number:	1
Pages:	119 - 140
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	Agriculture, Economic development, Privatization

Citation:
Krasnozhon, Leonid A. / 2013. "Political Economy of Agricultural Market Reform in Ukraine: “Good Bye Lenin”." The Journal of Private Enterprise, 29(1): 119-140.