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A case study of a currency crisis: the Russian default of 1998
This paper uses a currency crisis framework to analyze the currency devaluation and debt default of post-Soviet Russia in August 1998. The authors show that even though the Russian economy recorded positive growth immediately preceding the default, the atmosphere was reflective of an impending crisis. The authors then consider the symptoms of a currency crisis?specifically public and private debt responsibilities, devaluation expectations, and contractionary monetary policy?and show that they were present in Russia at that time. Three generations of currency crisis models are reviewed, ...
Agriculture in the former Soviet Union: the long road ahead
Building the legal and regulatory framework
Imperiled Russia needs West's help, Rice says
Could Russian have learned from China?
International economic implications of the end of the Soviet Union
This paper quantifies roughly some potential economic developments in the former Soviet Union (FSU), if substantive economic reforms go forward, and assesses the likely implications of these developments for the rest of the world. It is assumed that a move to world prices for energy and other economic reforms result in a significant increase in FSU net oil exports. This paper develops and analyzes several alternative scenarios, including cases in which the FSU is specified to cooperate with OPEC. The simulations reported in this paper indicate that the FSU countries would be major ...