Restructuring, Stabilizing and Modernizing the New Russia

Economic and Institutional Issues
Softcover Nachdruck of the original 1. Auflage 2000
ISBN: 978-3-642-63156-6
Verlag: Springer

Buch, Englisch, 518 Seiten, Paperback, Format (B × H): 155 mm x 235 mm, Gewicht: 803 g

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.

Zielgruppe

Research

Autoren/Hrsg.

Gavrilenkov, Evgeny

Welfens, Paul J.J.

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Betriebswirtschaft: Theorie & Allgemeines
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein
• Sozialwissenschaften Politikwissenschaft Politikwissenschaft Allgemein Politische Theorie, Politische Philosophie

Inhaltsverzeichnis

I The Russian Transformation Crisis.- A. The EU and Russia: Strategic Aspects of Transformation and Integration.- B. Currency Crisis Theories — Some Explanations for the Russian Case.- C. Banking Sector and Financial Intermediation in the Russian Transformation Process.- D. Institutional Failures of Market Transformation of the Russian Economy.- E. Russian Crisis: Causes, Developments, Contagion and Prospects.- II Restructuring in Transition Economies.- F. Foreign Direct Investment in Russia: An Engine of Structural Adjustment?.- G. Russian Economy: Structural Change and Econometric Prospective.- H. Economic Opening-Up, Policy Reforms and Relations with International Organizations:A Parallel between Hungary and Russia - Some Major Differences and Similarities.- III Stabilizing Russia.- I. Towards Credible Monetary and Fiscal Policies in Russia.- J. Russian Capital Markets and International Financial Flows.- K. Consumer Prices in Russia and Transforming Official Statistics.- L. The Rationale for Seigniorage in Russia - A Model-Theoretic Approach.- M. Overcoming the Russian Banking Crisis: Theory, Some Empirical Findings and Policy Options.- IV Modernizing Russia.- N. Institutions and Transition: On the Way to a Market Economy — Theory and Application to Russia.- O. Overcoming the Transformation Crisis - Selected Issues and Policy Options in Russia.- P. Nurturing Entrepreneurship and the Role of Co-operatives.- Q. Foreign Direct Investment and Growth in Russia, Poland and the Ukraine.- R. Reforming the Natural Monopoly - the Case of Railroad Transport.- V Economic Roundtable: Internal and External Russian Transition Problems.- S. Permanent Crisis in Russia: Selected Problems of Macroeconomic Performance.- T. Systemic Transformation in Russia: Outcomes, Causes, NewImperatives.- U. Official Statistics in Russia and the Measurement of the Crisis - Some Remarks on Russian Price Statistics.- V. Rent-seeking as a Source of Macroeconomic Instability in Russia.- W. Foreign Trade and Foreign Direct Investment in Transformation Crisis in Russia and Ukraine.- X. Appendix: Selected Macroeconomic Data on Russia and Eastern Europe.- Y. Selection of Links and Internet Pages of Research Institutions Related to Russia.- Z. About the Project: Real and Monetary Transformation Crisis in Russia: Developments, Analysis and Sustainable Transformation.- List of Tables.- List of Figures.- List of Contributors.