Restructuring, Stabilizing and Modernizing the New Russia
Restructuring, Stabilizing and Modernizing the New Russia

Author: Paul J.J. Welfens

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 508

ISBN-13: 364257257X

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Russia has embarked upon a difficult process of systemic transformation and economic opening up. While the initial strong GDP decline seemed to have ended in 1997, the real development was facing even more difficult problems as output declined sharply after the Ruble and banking crisis of August 1998: inflation started to increase again, exports and imports were falling, capital flight increasing and unemployment rising. There is broad disappointment in Russia regarding the transformation failure in 1998 since so many people had hoped that the end of the Soviet command economy would bring democracy, prosperity and international integration. While Poland has been able to double per capita income in the 1990s it has fallen by 50% in Russia and this despite considerable IMF involvement and some (modest) support from other international organizations. What were the reasons for transformation failure in the 1990s? What are the ingredients for long term sustainable transformation? What are the internal and international requirements to avoid a second - possibly tragic - failure of transformation in Russia? An international group of researchers has focussed on these problems during a two-year research project financed by the Alfried Krupp von Bohlen und Halbach Foundation. A series of papers were presented at workshops in Potsdam, Bonn and Moscow in 1999 where this book is devoted to four important issues: the Russian transformation crisis, the topic of restructuring, the need for stabilizing Russia and the requirements for modernizing Russia.

OECD Economic Surveys: Russian Federation 1997
OECD Economic Surveys: Russian Federation 1997

Author: OECD

Publisher: OECD Publishing

Published: 1997-12-15

Total Pages: 292

ISBN-13: 9264151575

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This 1997 edition of OECD's periodic review of Russia's economy examines recent economic developments, policies and prospects. It includes special features on stabilisation, commercial banking, and corporate governance.

Russia's Economy in an Epoch of Turbulence
Russia's Economy in an Epoch of Turbulence

Author: Vladimir Mau

Publisher: Routledge

Published: 2017-11-27

Total Pages: 262

ISBN-13: 1351667459

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Over the course of the last thirty years post-communist Russia has either been struggling with crises, discussing the lessons learned from past crises, or attempting to trace the contours of future crises. Based on the author’s own experiences and his research over this long period, this book traces the logic of the development of the crises and the anti-crisis policies, and shows the continuity, or discontinuity, in determining particular solutions. It demonstrates how perceptions of the priorities for economic policy, and the problems of economic growth and the formation of a new model and its alternatives were formed and how they changed. It also outlines the evolution of ideas about the role of social politics and human capital sectors in addressing anti-crisis and modernization issues, and discusses the changing views on the institutional and structural priorities for Russia’s development. This is an important book on an economic subject of crucial global significance by a leading participant.

The Crisis in the Russian Economy
The Crisis in the Russian Economy

Author: Vitaly V. Shlykov

Publisher:

Published: 1997

Total Pages: 32

ISBN-13:

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The words, from the 1970s ballad, "Me and Bobby McGee," "Freedom's just another word for nothin' left to lose..." might apply to the terrible state of the Russian economy and, by extension, Russia's armed forces. Since the Soviet Union crumbled in 1991 and the Russian government set the country on its shaky journey toward capitalism and democracy, the Russian economy has been in a downward spiral; one which has drawn a majority of Russians into poverty and even lowered the average life expectancy by some 10 percent. To provide some scale for comprehending the magnitude of this problem, the more than 1.5 million men and women in uniform in the Russian armed forces and the 600,000 civilian employees of the Ministry of Defense, as well as the several million military pensioners throughout the land, must share a total defense budget of $15-$18 billion per year. That is about one-fourth of the U.S. Army's budget. The paper that follows, by retired Soviet Army Colonel Vitaly Shlykov, is a brutally honest appraisal of the harsh realities that are a part of today's Russia. It was presented at the Army War College's Eighth Annual Strategy Conference, "Russia's Future as a World Power," held at Carlisle Barracks, Pennsylvania, April 22-24, 1997. Colonel Shlykov's paper is even more sobering when one considers that the October Revolution of 1917 began in the bread lines of Petrograd and Moscow.

The Piratization of Russia
The Piratization of Russia

Author: Marshall I. Goldman

Publisher: Routledge

Published: 2003-04-10

Total Pages: 348

ISBN-13: 1134376847

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In 1991, a small group of Russians emerged from the collapse of the Soviet Union and enjoyed one of the greatest transfers of wealth ever seen, claiming ownership of some of the most valuable petroleum, natural gas and metal deposits in the world. By 1997, five of those individuals were on Forbes Magazine's list of the world's richest billionaires.

Market Without Economy
Market Without Economy

Author: Nicola Melloni

Publisher: Columbia University Press

Published: 2007-01-15

Total Pages: 157

ISBN-13: 3838254074

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The 1998 financial crisis in Russia was one of the most dramatic economic breakdowns and symbolized the failure of the transition process as it had been conducted since the end of the Soviet Union. There is no general agreement on the nature of the rouble collapse; a number of contradictory interpretations have been discussed among economists. This book argues that the Russian 1998 financial turmoil is best predicted by Krugman's and Sargent-Wallace's models. The currency collapse had its origins in the peculiar way in which the transition was managed. In particular, the Russian government became entrapped in the double constraint of a tight monetary policy imposed by the IMF on the one side, and a loose fiscal policy to support the private sector on the other. Those policies were inconsistent, and led to inflationary processes that were postponed through emission of a large amount of Treasury Bonds to finance the fiscal deficit. At the same time, a tight monetary policy retarded the recovery of the industrial sector. While the particular timing of the crisis was co-determined by other factors, such as the Asian financial crisis and the fall of the oil price, it was this incoherent monetary and financial policies mix that constituted the main cause of the rouble's spectacular collapse in August 1998. The book provides extensive coverage of a decade of Russian reforms. It critically analyzes neo-liberal ideology and the course of the transition process supported by the Washington Consensus.

Russia's Uncertain Economic Future
Russia's Uncertain Economic Future

Author: John Pearce Hardt

Publisher: M.E. Sharpe

Published: 2003

Total Pages: 508

ISBN-13: 9780765612083

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The Russian economy is now showing positive GDP growth and a positive balance of payments, portending a trend of sustained growth. The contributors to this volume analyze the present state of the Russian economy and its future prospects which now seem brighter than ever.

Russian Economic Reform
Russian Economic Reform

Author: James Leitzel

Publisher: Routledge

Published: 2005-06-22

Total Pages: 203

ISBN-13: 1134802099

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Transitions from socialism to capitalism are complex, both in theory and practice. Russian Economic Reform enables the reader to come to a much better understanding of these momentous changes, by providing a clear and accessible account of the major features of transition. It argues that attempts to portray the reform process is a disaster are misconceived, because they fail to take account of just how badly the pre-reform economy was doing. Many of the problems that are emerging now have their antecedents in the earlier economic system.