Stabilization and Structural Change in Russia, 1992-94

Vincent Koen () and Michael Marrese

No 1995/013, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; enterprise manager; exchange rate; service enterprise; enterprise behavior; single-enterprise town; loss-making enterprise; enterprise reform; Inflation; Correspondent banking; Privatization; Arrears; Real interest rates; Central and Eastern Europe (search for similar items in EconPapers)
Pages: 32
Date: 1995-01-01
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Citations: View citations in EconPapers (7)

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