Russia After The Global Economic Crisis PDF Download

Author:
Publisher: Peterson Institute
ISBN: 088132552X
Category :
Languages : en
Pages : 305

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Author: Joseph R. Bisignano
Publisher: Springer Science & Business Media
ISBN: 0792378652
Category : Business & Economics
Languages : en
Pages : 474

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Throughout the 1990s, major banking and currency crises occurred in many countries around the world. This book contains papers and comments from a conference held to identify and discuss the lessons to be learned from these crises, such as their causes and how to prevent their reoccurrence.

Author: Martin G. Gilman
Publisher: MIT Press
ISBN: 0262014653
Category : Business & Economics
Languages : en
Pages : 355

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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

Author: Natalie Zonis
Publisher: GRIN Verlag
ISBN: 3640803507
Category : Business & Economics
Languages : en
Pages : 24

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Seminar paper from the year 2010 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, University of Applied Sciences Berlin (International Management), language: English, abstract: Once again Russia’s positive economic development outlook has been thrown into question by the global financial crisis. The country has faced a whole lot of economic problems in the past months. Russians have withdrawn 290 billion Dollars from the country’s banks in fear of a financial collapse. At first sight on the past two years’ events on Russia’s financial market one may have had an impression of a „déjà-vu”: Since August 2008: the Rouble has dropped about one third against the Euro over 30 percent and against the Dollar even more than 40 percent.2 The incoming foreign investment of 28 billion Dollars which broke all records right in the year before has now shrunk up to a few billion. The country’s two stock markets, the Russian Trading System (RTS) and the Moscow Interbank Currency Exchange (MICEX), have fallen 78 percent and 67 percent respectively since their highs in May 2008.3 It appears as some cynical 10th anniversary of 17th of August 1998: when the Russian Government announced the gradual devaluation of the Rouble, the default on domestic and foreign debts, and declared a moratorium on payment by Russian commercial banks to foreign creditors. So the Rouble has dropped to the Dollar more than 300percent in the following months and was six times lower only a year after. At the outset this paper sets the currency crisis into the framework of the macroeconomic theory and provides a historical overview by putting the 1998 crisis into its timeframe and showing the impacts on the Russian economy. Furthermore the following questions are discussed: Why did the Rouble collapse? Was this a home-made crisis or was it caused by exogenous factors such as the foregone turmoil on Asia’s financial markets? Finally it shows what the conditions under which an economy can become vulnerable to a currency crisis are, what are and the right and the wrong options to resolve it and the lessons learned.

Author: Jeffrey Mankoff
Publisher: Council on Foreign Relations
ISBN: 0876094841
Category : Business & Economics
Languages : en
Pages : 44

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This US report argues that Russia's economic crisis presents an opportunity to deepen American and European economic ties with Russia and integrate the country more firmly in the international system, something that could, over time, bring Russian and Western interests closer together.

Author: Marshall I. Goldman
Publisher: Routledge
ISBN: 1134376847
Category : Business & Economics
Languages : en
Pages : 328

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In 1991, a small group of Russians emerged from the collapse of the Soviet Union and enjoyed one of the greatest transfers of wealth ever seen, claiming ownership of some of the most valuable petroleum, natural gas and metal deposits in the world. By 1997, five of those individuals were on Forbes Magazine's list of the world's richest billionaires.

Author: Nicola Melloni
Publisher: Columbia University Press
ISBN: 3838254074
Category : Business & Economics
Languages : en
Pages : 157

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Book Description
The 1998 financial crisis in Russia was one of the most dramatic economic breakdowns and symbolized the failure of the transition process as it had been conducted since the end of the Soviet Union. There is no general agreement on the nature of the rouble collapse; a number of contradictory interpretations have been discussed among economists. This book argues that the Russian 1998 financial turmoil is best predicted by Krugman's and Sargent-Wallace's models. The currency collapse had its origins in the peculiar way in which the transition was managed. In particular, the Russian government became entrapped in the double constraint of a tight monetary policy imposed by the IMF on the one side, and a loose fiscal policy to support the private sector on the other. Those policies were inconsistent, and led to inflationary processes that were postponed through emission of a large amount of Treasury Bonds to finance the fiscal deficit. At the same time, a tight monetary policy retarded the recovery of the industrial sector. While the particular timing of the crisis was co-determined by other factors, such as the Asian financial crisis and the fall of the oil price, it was this incoherent monetary and financial policies mix that constituted the main cause of the rouble's spectacular collapse in August 1998. The book provides extensive coverage of a decade of Russian reforms. It critically analyzes neo-liberal ideology and the course of the transition process supported by the Washington Consensus.

Author: Anders Åslund
Publisher: Columbia University Press
ISBN: 0881325147
Category : Political Science
Languages : en
Pages : 319

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Book Description
Russia After the Global Economic Crisis examines this important country after the financial crisis of 2007–09. The second book from The Russia Balance Sheet Project, a collaboration of two of the world's preeminent research institutions, the Peterson Institute for International Economics and the Center for Strategic and International Studies (CSIS), not only assesses Russia's international and domestic policy challenges but also provides an all-encompassing review of this important country's foreign and domestic issues. The authors consider foreign policy, Russia and its neighbors, climate change, Russia's role in the world, domestic politics, and corruption.

Author: Financial Crisis Inquiry Commission
Publisher: Cosimo, Inc.
ISBN: 1616405414
Category : Political Science
Languages : en
Pages : 692

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Book Description
The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Author: A. Vavilov
Publisher: Springer
ISBN: 0230282083
Category : Business & Economics
Languages : en
Pages : 281

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Book Description
This book examines history of Russian finances in the period of Russia's transition from communism to capitalism in the 1990s and in the current decade. It focuses on obstacles to market reforms and macroeconomic policy choices that resulted in the state debt expansion and the financial crisis of 1998.