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Stabilization and Structural Change in Russia, 1992-94

Author

Listed:
  • Mr. Vincent Koen
  • Mr. Michael Marrese

Abstract

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.

Suggested Citation

  • Mr. Vincent Koen & Mr. Michael Marrese, 1995. "Stabilization and Structural Change in Russia, 1992-94," IMF Working Papers 1995/013, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1995/013
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    Citations

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    Cited by:

    1. Buiter, Willem H., 1996. "Aspects of Fiscal Performance in some Transition Economies under Fund-supported Programs," CEPR Discussion Papers 1535, C.E.P.R. Discussion Papers.
    2. 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.
    3. Ernesto Hernández-Catá, 1998. "Consumer Prices, Money Supply and Liberalization in Post-Communist Economies," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 8.
    4. Buch, Claudia M., 1996. "Russian monetary policy: Assessing the track record," Kiel Working Papers 786, Kiel Institute for the World Economy (IfW Kiel).
    5. Yang, Jinxuan & Rizvi, Syed Kumail Abbas & Tan, Zhixiong & Umar, Muhammad & Koondhar, Mansoor Ahmed, 2021. "The competing role of natural gas and oil as fossil fuel and the non-linear dynamics of resource curse in Russia," Resources Policy, Elsevier, vol. 72(C).
    6. Koen Schoors, 2003. "The Fate of Russia's Former State Banks: Chronicle of a Restructuring Postponed and a Crisis Foretold," Europe-Asia Studies, Taylor & Francis Journals, vol. 55(1), pages 75-100.

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