This paper examines the coexistence of free prices and shortages for a range of consumer goods in Ukraine during 1992. Enterprises making consumer goods were substantially free to set market-clearing prices. Yet, Ukraine’s official consumer market experienced continued shortages, while the...

This paper examines the coexistence of free prices and shortages for a range of consumer goods in Ukraine during 1992, Enterprises making consumer goods were substantially free to set market-clearing prices. Yet, Ukraine`s official consumer market experienced continued shortages, while the same...

Petroleum product subsidies have again started to increase with the rebound in international prices. This note reviews recent developments in subsidy levels and argues that reforming the policy framework for setting petroleum product prices is necessary to reduce the fiscal burden of these...