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Price Liberalization in Russia: The Early Record

Author

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  • Mr. Vincent Koen
  • Mr. Steven T Phillips

Abstract

Prices in Russia have been decontrolled in several steps since early 1991, after decades of near-fixity. Their behavior before and after the January 1992 price liberalization is analyzed here, as are the associated movements of wages and overall consumer incomes and expenditures. The emphasis is on developments in the first half of 1992. Comparisons are made with recent experience in Eastern Europe. Evidence on shortages, saving and income distribution is also considered.

Suggested Citation

  • Mr. Vincent Koen & Mr. Steven T Phillips, 1992. "Price Liberalization in Russia: The Early Record," IMF Working Papers 1992/092, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1992/092
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    Citations

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    Cited by:

    1. Konstantin Gluschenko, 2004. "The Evolution of Cross-Region Price Distribution in Russia," William Davidson Institute Working Papers Series 2004-716, William Davidson Institute at the University of Michigan.
    2. Konstantin Gluschenko, 2003. "Market integration in Russia during the transformation years," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 11(3), pages 411-434, September.
    3. Konstantin Gluschenko, 2009. "Goods market integration in Russia during the economic upturn," Post-Communist Economies, Taylor & Francis Journals, vol. 21(2), pages 125-142.
    4. Daniel Berkowitz & David DeJong & Steven Husted, 1997. "Transition in Russia: It's Happening," William Davidson Institute Working Papers Series 33, William Davidson Institute at the University of Michigan.
    5. Berkowitz, Daniel, 1996. "On the persistence of rationing following liberalization: A theory for economies in transition," European Economic Review, Elsevier, vol. 40(6), pages 1259-1279, June.
    6. Loungani, Prakash & Sheets, Nathan, 1997. "Central Bank Independence, Inflation, and Growth in Transition Economies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(3), pages 381-399, August.
    7. Konstantin Gluschenko, 2016. "Distribution dynamics of Russian regional prices," Empirical Economics, Springer, vol. 51(3), pages 1193-1213, November.
    8. Jacques Le Cacheux & Sandrine Cazes, 1994. "La protection sociale en Fédération de Russie," Revue de l'OFCE, Programme National Persée, vol. 49(1), pages 177-206.
    9. Daniel Berkowitz & David N. DeJong, 2000. "The Evolution of Market Integration in Russia," William Davidson Institute Working Papers Series 334, William Davidson Institute at the University of Michigan.
    10. William Easterly & Paulo Vieira da Cunha, 1994. "Financing the storm: macroeconomic crisis in Russia," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 2(4), pages 443-465, December.

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