Stabilization and Structural Change in Russia, 1992-94
January 1, 1995
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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
Pages:
32
Volume:
1995
DOI:
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Issue:
013
Series:
Working Paper No. 1995/013
Stock No:
WPIEA0131995
ISBN:
9781451842951
ISSN:
1018-5941
