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Restructuring, Stabilizing and Modernizing the New Russia - Economic and Institutional Issues (Paperback, Softcover reprint of the original 1st ed. 2000)
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Restructuring, Stabilizing and Modernizing the New Russia - Economic and Institutional Issues (Paperback, Softcover reprint of the original 1st ed. 2000)
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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.
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