The Ruble Problem
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The Ruble Problem
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Author :
language : en
Publisher: Hoover Press
Release Date :
The Ruble Problem written by and has been published by Hoover Press this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
The Ruble Problem
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Author : Annelise Graebner Anderson
language : en
Publisher: Hoover Inst Press
Release Date : 1992
The Ruble Problem written by Annelise Graebner Anderson and has been published by Hoover Inst Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.
Restructuring Stabilizing And Modernizing The New Russia
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Author : Paul J.J. Welfens
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Restructuring Stabilizing And Modernizing The New Russia written by Paul J.J. Welfens and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Russia has embarked upon a difficult process of systemic transformation and economic opening up. While the initial strong GDP decline seemed to have ended in 1997, the real development was facing even more difficult problems as output declined sharply after the Ruble and banking crisis of August 1998: inflation started to increase again, exports and imports were falling, capital flight increasing and unemployment rising. There is broad disappointment in Russia regarding the transformation failure in 1998 since so many people had hoped that the end of the Soviet command economy would bring democracy, prosperity and international integration. While Poland has been able to double per capita income in the 1990s it has fallen by 50% in Russia and this despite considerable IMF involvement and some (modest) support from other international organizations. What were the reasons for transformation failure in the 1990s? What are the ingredients for long term sustainable transformation? What are the internal and international requirements to avoid a second - possibly tragic - failure of transformation in Russia? An international group of researchers has focussed on these problems during a two-year research project financed by the Alfried Krupp von Bohlen und Halbach Foundation. A series of papers were presented at workshops in Potsdam, Bonn and Moscow in 1999 where this book is devoted to four important issues: the Russian transformation crisis, the topic of restructuring, the need for stabilizing Russia and the requirements for modernizing Russia.
Problems Of Economic Transition
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Author :
language : en
Publisher:
Release Date : 1998
Problems Of Economic Transition written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Economic history categories.
Russia S Intractable Economic Problems And The Next Steps In Legal Reform
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Author : William P. Kratzke
language : en
Publisher:
Release Date : 2010
Russia S Intractable Economic Problems And The Next Steps In Legal Reform written by William P. Kratzke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
In August 1998, the Russian government defaulted on its debt, ordered private borrowers to default on foreign loans, and abandoned its support of the ruble - thereby provoking a collapse of the country's banking system. The monetary crisis revealed the fundamental weakness of the Russian economy. The source of Russia's economic woes is its unique legacy of socialism. Soviet socialism was an incredibly inefficient system. It is unfortunate that the system survived so long because the Soviet Union's legacy is an economy that suffers from massive distortions that greatly inhibit efforts to move to a market economy. Economic distortions in Russia, as with economic distortions anywhere, occur because the distortions are rewarded outside of or irrespective of competitive market forces. Law reform in Russia proceeds on many fronts. This paper takes the position that the most important reforms for Russia are those that eliminate the reward system that encourages highly inefficient economic activity. These reforms are implementation of an effective bankruptcy law and the de-politicization of business. The two go hand-in-hand. The politicization of business renders Russia's bankruptcy laws ineffective by making non-viable business entities appear to be solvent. Only when the Russian government - and the Russian people - have removed this reward system can conditions affirmatively conducive economic to growth be fostered and a business environment competitively attractive to foreign investment established. This position is by now uncontroversial, but the paper examines such reform in the context of the obstacles to its achievement.
The Ruble
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Author : Ekaterina Pravilova
language : en
Publisher: Oxford University Press
Release Date : 2023-05-30
The Ruble written by Ekaterina Pravilova and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05-30 with History categories.
A groundbreaking history of Russia, from empire to the Soviet era, viewed through the lens of its money. Money seems passive, a silent witness to the deeds and misdeeds of its holders, but through its history intimate dramas and grand historical processes can be told. So argues this sweeping narrative of the ruble's story from the time of Catherine the Great to Lenin. The Russian ruble did not enjoy a particularly reputable place among European currencies. Across two hundred years, long periods of financial turmoil were followed by energetic and pragmatic reforms that invariably ended with another collapse. Why did a country with an industrializing economy, solid private property rights, and (until 1918) a near perfect reputation as a rock-solid repayer of its debts stick for such a prolonged period with an inconvertible currency? Why did the Russian gold standard differ from the European model? In answering these questions, Ekaterina Pravilova argues that politics and culture must be considered alongside economic factors. The history of the Russian ruble offers an opportunity to explore the political reasons behind the preservation of a supposedly backward financial system and to show how politicians used monetary reforms to block or enact political transformations. The Ruble is a history of Russia written in the language of money. It shows how economists, landowners, merchants, and peasants understood, perceived, and used financial mechanisms. In her sweeping account, Pravilova interprets the well-known political events of the eighteenth to early twentieth centuries--wars, attempts at constitutional transformations, revolutions--through the ideas and politics of currency reforms and offers a new history of Russia's imperial expansion and collapse.
A Full Value Ruble
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Author : Kristy Ironside
language : en
Publisher: Harvard University Press
Release Date : 2021-06-01
A Full Value Ruble written by Kristy Ironside and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-01 with History categories.
A new history shows that, despite MarxismÕs rejection of money, the ruble was critical to the Soviet UnionÕs promise of shared prosperity for its citizens. In spite of Karl MarxÕs proclamation that money would become obsolete under Communism, the ruble remained a key feature of Soviet life. In fact, although Western economists typically concluded that money ultimately played a limited role in the Soviet Union, Kristy Ironside argues that money was both more important and more powerful than most histories have recognized. After the Second World War, money was resurrected as an essential tool of Soviet governance. Certainly, its importance was not lost on Soviet leaders, despite official Communist Party dogma. Money, Ironside demonstrates, mediated the relationship between the Soviet state and its citizens and was at the center of both the governmentÕs and the peopleÕs visions for the maturing Communist project. A strong rubleÑone that held real value in workersÕ hands and served as an effective labor incentiveÑwas seen as essential to the economic growth that would rebuild society and realize CommunismÕs promised future of abundance. Ironside shows how Soviet citizens turned to the state to remedy the damage that the ravages of the Second World War had inflicted upon their household economies. From the late 1940s through the early 1960s, progress toward Communism was increasingly measured by the health of its citizensÕ personal finances, such as greater purchasing power, higher wages, better pensions, and growing savings. However, the increasing importance of money in Soviet life did not necessarily correlate to improved living standards for Soviet citizens. The Soviet governmentÕs achievements in Òraising the peopleÕs material welfareÓ continued to lag behind the WestÕs advances during a period of unprecedented affluence. These factors combined to undermine popular support for Soviet power and confidence in the Communist project.
Problems Of Communism
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Author :
language : en
Publisher:
Release Date : 1961
Problems Of Communism written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1961 with Communism categories.
The Fight For Influence
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Author : Alexey Malashenko
language : en
Publisher: Brookings Institution Press
Release Date : 2013-12-10
The Fight For Influence written by Alexey Malashenko and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-10 with Political Science categories.
Russian influence in Central Asia is waning. Since attaining independence, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan have forged their own paths—building relationships with outside powers and throwing off the last vestiges of Soviet domination. But in many ways, Moscow still sees Central Asia through the lens of the Soviet Union, and it struggles to redefine Russian relations with the region. In The Fight for Influence, Alexey Malashenko offers a comprehensive analysis of Russian policies and prospects in Central Asia. It is clear that Russian policy in the formerly Soviet-controlled region is entering uncharted territory. But does Moscow understand the fundamental shifts under way? Malashenko argues that it is time for Russia to rethink its approach to Central Asia. Contents 1. Wasted Opportunities 2. Regional Instruments of Influence 3. Russia and Islam in Central Asia: Problems of Migration 4. Kazakhstan and Its Neighborhood 5. Kyrgyzstan—The Exception 6. Tajikistan: Authoritarian, Fragile, and Facing Difficult Challenges 7. Turkmenistan: No Longer Exotic, But Still Authoritarian 8. Uzbekistan: Is There a Potential for Change? Conclusion Who Challenges Russia in Central Asia?
No Precedent No Plan
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Author : Martin G. Gilman
language : en
Publisher: MIT Press
Release Date : 2010
No Precedent No Plan written by Martin G. Gilman and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
Review: "In 1998, President Boris Yeltsin's government defaulted on its domestic debt and Russia experienced a financial meltdown that brought it to the brink of disaster. In No Precedent, No plan, Martin Gilman offers an insider's view of Russia's financial crisis. As the International Monetary Fund's senior person in Moscow, Gilman was in the eye of the storm. Russia's policy response to the economic collapse stemming from the disintegration of the Soviet Union was chaotic. Fiscal deficits loomed in anticipation of future budget revenue that never seemed to materialize--despite repeated promises to the IMF. The rapid buildup of sovereign debt would have challenged even a competent government. In the new Russia, with its barely functioning government and no consensus on the path toward democratic and economic transformation, domestic politics trumped economic common sense." "Gilman argues that the debt default, although avoidable, actually spurred Russia to integrate its economy with the rest of the world. In analyzing the ordeal of the 1998 crisis, Gilman suggests that the IMF helped Russia avoid an even greater catastrophe. He details the IMF's involvement and underscores the unique challenge that Russia presented to the IMF. There really was no precedent, even if economist Joseph Stiglitz and others argued otherwise. In recounting Russia's emergence from the IMF's tutelage, Gilman explains how the shell-shocked Russian public turned to Vladimir Putin in search of stability after the trauma of 1998. And although Russia's own prospects are favorable, Gilman expresses concern that the 1998 Russian default could serve as an unfortunate precedent for sovereign defaults in the future with the IMF once again playing a similar role." "No Precedent, No Plan offers a definitive account--the first from an insider's perspective--of Russia's painful transition to a market economy."--BOOK JACKET