The study proposes the key features of a reconstruction plan to help achieve this goal. On the basis of the composition of the costs, the study argues that the government’s main focus should be on restoring the basic institutions that are usually taken for granted in most economies: the markets and state capacity. By combining the pre-war geographical distribution of fixed capital with data on battle intensity, survey evidence on household damage in the conflict-affected areas and novel data on the macroeconomy of certain areas of the Donetsk and Luhansk regions, the report estimates the minimum reconstruction costs of the region at USD 21.7 billion. This study provides a systematic assessment of the costs of the ongoing armed conflict in the Donbas region of Ukraine.
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