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The Imf And Russia In The 1990s
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Book Synopsis The IMF and Russia in the 1990's by : Mr.John C. Odling-Smee
Download or read book The IMF and Russia in the 1990's written by Mr.John C. Odling-Smee and published by INTERNATIONAL MONETARY FUND. This book was released on 2004-08-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explains the IMF's impact on economic policies in Russia, focusing on where the IMF made a difference. The Russian economic and political leadership essentially determined economic policies. The IMF's influence was modest: it had only a limited impact on overall fiscal policy and the major structural reforms, but it had a positive impact on monetary policy. A tougher position on fiscal policy in 1996-98 might have produced a better outcome. The G-7's concerns weakened the IMF. However, the IMF played a major role in transferring knowledge about macroeconomic policymaking and implementation.
Book Synopsis Evolution of Monetary Policy Instruments in Russia by : Mr. Tomás J. T. Baliño
Download or read book Evolution of Monetary Policy Instruments in Russia written by Mr. Tomás J. T. Baliño and published by International Monetary Fund. This book was released on 1997-12-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the evolution of monetary policy in Russia, focusing on the period January 1992–December 1995. Special attention is given to the role of monetary policy instruments. Initially, policy was completely dominated by flows of credit from the Central Bank of the Russian Federation (CBR) to the budget, to enterprises, and to other republics in the ruble area. Over time these flows have been reduced and indirect monetary instruments have become key elements of monetary policy implementation
Book Synopsis Tearing Down Walls by : Mr.James M. Boughton
Download or read book Tearing Down Walls written by Mr.James M. Boughton and published by International Monetary Fund. This book was released on 2012-03-05 with total page 1036 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume--the fifth in a series of histories of the International Monetary Fund--examines the 1990s, a tumultuous decade in which the IMF faced difficult challenges and took on new and expanded roles. Among these were assisting countries that had long operated under central planning to manage transitions toward market economies, helping countries in financial crisis after sudden loss of support from private financial markets, adapting surveillance to reflect the growing acceptance of international standards for economic and financial policies, helping low-income countries grow and begin to eradicate poverty while staying within its mandate as a monetary institution, and providing adequate financial assistance to members in an age of limited official resources. The IMF's successes and setbacks in facing these challenges provide valuable lessons for an uncertain future.
Author :Ms.Benedicte Vibe Christensen Publisher :International Monetary Fund ISBN 13 :1451849516 Total Pages :72 pages Book Rating :4.4/5 (518 download)
Book Synopsis The Russian Federation in Transition by : Ms.Benedicte Vibe Christensen
Download or read book The Russian Federation in Transition written by Ms.Benedicte Vibe Christensen and published by International Monetary Fund. This book was released on 1993-09-01 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses Russia’s balance of payments developments in recent years: the initial macroeconomic imbalances and systemic shocks which set the stage for the critical balance of payments difficulties Russia faced in the early 1990s; the lessons from the early phases of Russia’s economic reforms; the choices faced by the Russian Government and the international community in supporting the government’s reform efforts; and the external debt situation. This analysis also points to external adjustment issues which Russia will face in the period ahead, including the potential for an early reversal of the export decline and the nature of external financing and debt problems.
Book Synopsis Privatization and Transition in Russia in the Early 1990s by : Carol Scott Leonard
Download or read book Privatization and Transition in Russia in the Early 1990s written by Carol Scott Leonard and published by Routledge. This book was released on 2013-06-19 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few economic events have caused such controversy as the privatization process in Russia. Some see it as the foundation of political and economic freedom. For others it was economics gone wrong, and ended in "Russians stealing money from their own country". As Russia reasserts itself, and its new brand of capitalism, it is ever more important that policy makers and scholars understand the roots of the economic structure and governance of that country; what was decided, who made the decisions and why, what actually transpired, and what implications this has for the future of Russia. This work, written by two senior advisors to the Russian government, has unique access to documentation, tracking the decision making process in the Russian Mass Privatization process. By close reference to events, and supplemented by interviews with many of the key participants, it shows that the policies adopted were often influenced and shaped by different forces than those cited by current popular accounts. The book challenges the interpretation of Russian privatization by some of the West’s most eminent economists. It underlines that economists of all schools, who bring assumptions from the West to the analysis of Russia, may reach false or misleading conclusions. It is an essential guide for anyone interested in Russian economic reform, and anyone who seeks to understand this enigmatic country, and its actions today.
Book Synopsis Russia's Economy in an Epoch of Turbulence by : Vladimir Mau
Download or read book Russia's Economy in an Epoch of Turbulence written by Vladimir Mau and published by Routledge. This book was released on 2017-11-27 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis A Normal Country by : Andrei Shleifer
Download or read book A Normal Country written by Andrei Shleifer and published by Harvard University Press. This book was released on 2005 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a firsthand glimpse into the intellectual challenges that Russia's turbulent transition generated. It deals with many of the most important reforms, from Gorbachev's half-hearted "perestroika," to the mass privatization program, to the efforts to build legal and regulatory institutions of a market economy.
Author :International Monetary Fund Publisher :INTERNATIONAL MONETARY FUND ISBN 13 :9781451935233 Total Pages : pages Book Rating :4.9/5 (352 download)
Book Synopsis IMF Survey by : International Monetary Fund
Download or read book IMF Survey written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2003-03-17 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia’s unexpectedly strong recovery since its 1998 crisis has left people wondering whether it is just a temporary result of higher oil prices and the postcrisis depreciation of the ruble or a sign ofdurable improvements in the much-battered economy. This question is addressed in the book Russia Rebounds, written by members of the IMF’s Russian team and due out later this year. John Odling-Smee, Director of the IMF’s European II Department, spoke with Laura Wallace about Russia’s prospects and its relationship with the IMF during the troubled 1990s. Odling-Smee, a U.K. national, joined the IMF in 1990 and took over responsibility for the IMF’s relations with former Soviet Union countries in 1992. Before that, he served in the U.K. Cabinet Office and Treasury for about 15 years.
Book Synopsis No Precedent, No Plan by : Martin G. Gilman
Download or read book No Precedent, No Plan written by Martin G. Gilman and published by MIT Press. This book was released on 2010 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: Review: "In 1998, President Boris Yeltsin's government defaulted on its domestic debt and Russia experienced a financial meltdown that brought it to the brink of disaster. In No Precedent, No plan, Martin Gilman offers an insider's view of Russia's financial crisis. As the International Monetary Fund's senior person in Moscow, Gilman was in the eye of the storm. Russia's policy response to the economic collapse stemming from the disintegration of the Soviet Union was chaotic. Fiscal deficits loomed in anticipation of future budget revenue that never seemed to materialize--despite repeated promises to the IMF. The rapid buildup of sovereign debt would have challenged even a competent government. In the new Russia, with its barely functioning government and no consensus on the path toward democratic and economic transformation, domestic politics trumped economic common sense." "Gilman argues that the debt default, although avoidable, actually spurred Russia to integrate its economy with the rest of the world. In analyzing the ordeal of the 1998 crisis, Gilman suggests that the IMF helped Russia avoid an even greater catastrophe. He details the IMF's involvement and underscores the unique challenge that Russia presented to the IMF. There really was no precedent, even if economist Joseph Stiglitz and others argued otherwise. In recounting Russia's emergence from the IMF's tutelage, Gilman explains how the shell-shocked Russian public turned to Vladimir Putin in search of stability after the trauma of 1998. And although Russia's own prospects are favorable, Gilman expresses concern that the 1998 Russian default could serve as an unfortunate precedent for sovereign defaults in the future with the IMF once again playing a similar role." "No Precedent, No Plan offers a definitive account--the first from an insider's perspective--of Russia's painful transition to a market economy."--BOOK JACKET
Book Synopsis Regional Economic Issues--Special Report 25 Years of Transition by : Mr.James Roaf
Download or read book Regional Economic Issues--Special Report 25 Years of Transition written by Mr.James Roaf and published by International Monetary Fund. This book was released on 2014-10-17 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past 25 years have seen a dramatic transformation in Europe’s former communist countries, resulting in their reintegration with the global economy, and, in most cases, major improvements in living standards. But the task of building full market economies has been difficult and protracted. Liberalization of trade and prices came quickly, but institutional reforms—such as governance reform, competition policy, privatization and enterprise restructuring—often faced opposition from vested interests. The results of the first years of transition were uneven. All countries suffered high inflation and major recessions as prices were freed and old economic linkages broke down. But the scale of output losses and the time taken for growth to return and inflation to be brought under control varied widely. Initial conditions and external factors played a role, but policies were critical too. Countries that undertook more front-loaded and bold reforms were rewarded with faster recovery and income convergence. Others were more vulnerable to the crises that swept the region in the wake of the 1997 Asia crisis.
Book Synopsis The Case Against the International Monetary Fund by :
Download or read book The Case Against the International Monetary Fund written by and published by Hoover Press. This book was released on with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Finance & Development, September 1998 by : International Monetary Fund. External Relations Dept.
Download or read book Finance & Development, September 1998 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 1998-01-01 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
Book Synopsis Russia's Economic Transformation in the 1990s by : Anders Åslund
Download or read book Russia's Economic Transformation in the 1990s written by Anders Åslund and published by Burns & Oates. This book was released on 1997 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a collection of articles on the Russian economic transformation, written between 1991 and 1994. It offers a unique inside perspective of the reform process. The articles were written at the height of the reforms and they reflect the knowledge, thoughts and ideas retained by the leading reformers and their advisers whilst attempting a radical transformation of the Russian economy. The contributors, while unanimously advocating radical reform, also provide substantial empirical evidence of the pressing economic issues and concerns of the period. Although most of the contributors worked for the Russian government when they wrote their articles, they are still remarkably critical of the reform process, maintaining that the reforms were not radical enough either in content or in approach.
Book Synopsis Regional Disparities and Fiscal Federalism in Russia by : Oksana Dynnikova
Download or read book Regional Disparities and Fiscal Federalism in Russia written by Oksana Dynnikova and published by International Monetary Fund. This book was released on 2021-05-20 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines how regional disparities have evolved in Russia and how Russia’s system of intergovernmental fiscal relations is managing these disparities. Regional disparities have fallen over the past two decades but remain relatively high. Socioeconomic outcomes remain worse in lagging regions despite faster growth and convergence in income levels. The twin shocks of COVID-19 and lower oil prices appear to have impacted richer regions disproportionately. Compared to other large countries with federal systems of government, Russia stands out with its high reliance on direct taxes as a revenue source for its regions. Transfers from the federal budget to the regions provide some redistribution by reducing the dispersion in real per capita fiscal spending, but also tend to be associated with lower growth. The Russian fiscal system offers degrees of redistribution and risk sharing of around 26 and 18 percent, respectively—with in-kind social transfers contributing the most. Finally, federal transfers in the aggregate tend to be procyclical and are also fairly unresponsive to shocks to regions’ own revenues.
Book Synopsis Russia Rebounds by : Mr.David Edwin Wynn Owen
Download or read book Russia Rebounds written by Mr.David Edwin Wynn Owen and published by International Monetary Fund. This book was released on 2003-09-09 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia Rebounds analyzes Russia’s dramatic economic recovery since the country’s 1998 financial crisis, emphasizing macroeconomic issues and fiscal and banking sector reforms. The crisis was a massive shock to the system and a considerable surprise to both Russians and foreign investors, who a year before had come to think that the worst of the transition from a centrally planned to a market economy was over. Macroeconomic performance since the crisis has been impressive. The book assesses the contribution of various factors underlying this recovery and highlights key policy challenges to ensure its sustainability.
Book Synopsis Privatizing Russia by : Maxim Boycko
Download or read book Privatizing Russia written by Maxim Boycko and published by MIT Press. This book was released on 1997-01-22 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatizing Russia offers an inside look at one of the most remarkable reforms in recent history. Having started on the back burner of Russian politics in the fall of 1991, mass privatization was completed on July 1, 1994, with two thirds of the Russian industry privately owned, a rapidly rising stock market, and 40 million Russians owning company shares. The authors, all key participants in the reform effort, describe the events and the ideas driving privatization. They argue that successful reformers must recognize privatization as a process of depoliticizing firms in the face of massive opposition: making the firm responsive to market rather than political influences. The authors first review the economic theory of property rights, identifying the political influence on firms as the fundamental failure of property rights under socialism. They detail the process of coalition building and compromise that ultmately shaped privatization. The main elements of the Russian program -- corporatization, voucher use, and voucher auctions -- are described, as is the responsiveness of privatized firms to outside investors. Finally, the market values of privatized assets are assessed for indications of how much progress the country has made toward reforming its economy. In many respects, privatization has been a great success. Market concepts of property ownership and corporate management are shaking up Russian firms at a breathtaking pace, creating powerful economic and political stimuli for continuation of market reforms. At the same time, the authors caution, the political landscape remains treacherous as old-line politicians reluctantly cede their property rights and authority over firms.
Book Synopsis The IMF and the Silent Revolution by : Mr.James M. Boughton
Download or read book The IMF and the Silent Revolution written by Mr.James M. Boughton and published by International Monetary Fund. This book was released on 2000-09-11 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This pamphlet is adapted from Chapter 1 of Silent Revolution: The International Monetary Fund, 1979-89, by the same author. That book is full of history of the evolution of the Fund during 11 years in which the institution truly came of age as a participant in the international financial system.
