Nomy in the context of the ongoing transition and tries to assess the reasons for its failure. It deals with the concept of transformation, as well as inherited from the socialist system structural distortion that determine its course. It also describes restructuring process in the context of economic transition. The author analyzes the main stages of economic transition and restructuring process in Ukraine and comes to the conclusion that the main cause of lack of its success was inefficient economic strategy, allowing for consolidation of the inefficient economic structures.
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