The IMF and Russia in the 1990s

Author/Editor: Odling-Smee, J. C.
Publication Date: August 01, 2004
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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: 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.
Series: Working Paper No. 04/155
Subject(s): Transition economies | Russian Federation | Fund | Fiscal policy | Structural adjustment

Author's Keyword(s): Economic transition | International Monetary Fund | macroeconomic policy | Russia
Publication Date: August 01, 2004
ISBN/ISSN: 1934-7073 Format: Paper
Stock No: WPIEA1552004 Pages: 47
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