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The IMF and Russia in the 1990's

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  • Mr. John C. Odling-Smee

Abstract

This paper explains the IMF's impact on economic policies in Russia, focusing on where the IMF made a difference. The Russian economic and political leadership essentially determined economic policies. The IMF's influence was modest: it had only a limited impact on overall fiscal policy and the major structural reforms, but it had a positive impact on monetary policy. A tougher position on fiscal policy in 1996-98 might have produced a better outcome. The G-7's concerns weakened the IMF. However, the IMF played a major role in transferring knowledge about macroeconomic policymaking and implementation.

Suggested Citation

  • Mr. John C. Odling-Smee, 2004. "The IMF and Russia in the 1990's," IMF Working Papers 2004/155, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2004/155
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    References listed on IDEAS

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    1. Stanley Fischer & Ratna Sahay, 2000. "The Transition Economies After Ten Years," NBER Working Papers 7664, National Bureau of Economic Research, Inc.
    2. Mr. Daniel Citrin & Ashok Lahiri, 1995. "Policy Experiences and Issues in the Baltics, Russia, and Other Countries of the Former Soviet Union," IMF Occasional Papers 1995/005, International Monetary Fund.
    3. Mr. Jack Diamond & Mr. Barry H Potter, 2000. "Setting Up Treasuries in the Baltics, Russia, and other Countries of the Former Soviet Union," IMF Occasional Papers 2000/014, International Monetary Fund.
    4. International Monetary Fund, 1995. "Social Safety Nets for Economic Transition - Options and Recent Experiences," IMF Policy Discussion Papers 1995/003, International Monetary Fund.
    5. Mr. Jeffrey M. Davis & Miss. A Cheasty, 1996. "Fiscal Transition in Countries of the Former Soviet Union: An Interim Assessment," IMF Working Papers 1996/061, International Monetary Fund.
    6. Mr. Stanley Fischer & Ms. Ratna Sahay, 2000. "The Transition Economies After Ten Years," IMF Working Papers 2000/030, International Monetary Fund.
    7. Homi Kharas & Brian Pinto & Sergei Ulatov, 2001. "An Analysis of Russia's 1998 Meltdown: Fundamentals and Market Signals," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 32(1), pages 1-68.
    8. Piroska M. Nagy, 2000. "The Meltdown of the Russian State," Books, Edward Elgar Publishing, number 1495.
    9. Gaidar, Yegor, 1997. "The IMF and Russia," American Economic Review, American Economic Association, vol. 87(2), pages 13-16, May.
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    Cited by:

    1. Fyodor I. Kushnirsky, 2014. "Ukraine and The IMF: An Uneasy Cooperation," International Journal of Business and Social Research, LAR Center Press, vol. 4(7), pages 120-130, July.
    2. Fyodor I. Kushnirsky, 2014. "Ukraine and The IMF: An Uneasy Cooperation," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 4(7), pages 120-130, July.
    3. Manuela Moschella, 2014. "Monitoring Macroeconomic Imbalances: Is EU Surveillance More Effective than IMF Surveillance?," Journal of Common Market Studies, Wiley Blackwell, vol. 52(6), pages 1273-1289, November.

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