Introduction

Leslie Dienes, Istvan Dobozi and Marian Radetzki
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Leslie Dienes: University of Kansas
Istvan Dobozi: World Bank
Marian Radetzki: University of Luleå

Chapter 0 in Energy and Economic Reform in the Former Soviet Union, 1994, pp 15-18 from Palgrave Macmillan

Abstract: Abstract By the late 1980s the Soviet Union had developed into the world’s largest exporter of energy, and its important role as energy supplier to the rest of the world was seen as continuing into the foreseeable future. This position was dramatically altered in the early 1990s. The profound political and economic change of Soviet society gained speed in 1990 and led to a division of the union into a number of independent republics. Output of energy in the former Soviet Union (FSU) first stalled and then declined sharply, partly in consequence of political disintegration and the incoherence of the initial economic reforms, but also because of more fundamental problems in the energy sector. The oil industry fared worst in the process. Traditionally very high consumption levels of energy were not much reduced, despite a dramatic contraction of GDP after 1989. The result was a drastic shrinkage of the FSU’s energy exports.

Keywords: Exchange Rate; Realistic Exchange Rate; Purchase Power Parity; Former Soviet Union; Tradable Sector (search for similar items in EconPapers)
Date: 1994
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DOI: 10.1057/9780230377158_1

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