Stabilization and Structural Change in Russia, 1992-94

Author/Editor:

Vincent Koen ; Michael Marrese

Publication Date:

January 1, 1995

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.

Series:

Working Paper No. 1995/013

Subject:

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

English

Publication Date:

January 1, 1995

ISBN/ISSN:

9781451842951/1018-5941

Stock No:

WPIEA0131995

Pages:

32

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