Stabilization and Structural Change in Russia, 1992-94

January 1, 1995

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Format: Chicago

Vincent Koen, and Michael Marrese. Stabilization and Structural Change in Russia, 1992-94, (USA: International Monetary Fund, 1995) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Macroeconomic stabilization and structural reforms in Russia since 1992 have been proceeding in a rather chaotic fashion. The Russian variety of economic gradualism has seen a sharp decline in output, though less than indicated by official statistics, and relatively resilient household consumption. Hyperinflation has been avoided so far by tightened financial policies, but remains a threat. Conventional macroeconomic wisdom on the relation between money, prices and output is relevant for Russia. Moreover, stabilization and structural change interact and are mutually reinforcing.

Subject: Arrears, Correspondent banking, Economic sectors, External debt, Financial services, Inflation, Prices, Privatization, Real interest rates

Keywords: Arrears, Central and Eastern Europe, Correspondent banking, Enterprise behavior, Enterprise manager, Enterprise reform, Exchange rate, Inflation, Loss-making enterprise, Privatization, Real interest rates, Service enterprise, Single-enterprise town, WP

Publication Details

Pages:

32
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1995/013
Stock No:

WPIEA0131995
ISBN:

9781451842951
ISSN:

1018-5941

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