Cover IMF Working Papers
Stabilization and Structural Change in Russia, 1992-94
Author: Mr. Vincent Koen and Mr. Michael Marrese
Series:
IMF Working Papers
Volume/Issue:
Volume 1995: Issue 013
Language:
English
Publication Date:
01 Jan 1995
DOI:
https://doi.org/10.5089/9781451842951.001
ISBN:
9781451842951
ISSN:
1018-5941
Pages:
32
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
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund