Marin, Dalia; Huang, Haizhou; Xu, Chenggang - 2002 - First Draft: September 2000, This Draft: September 2002
trigger to pull the economy out of the trap. This has led to the strong economic recovery and provided initial conditions for …This paper provides a unified theory to explain the onset of the financial crisis in 1998 and the striking economic … recovery in Russia and the former Soviet Union afterwards. Before the crisis, the banking sector in these economies was stuck …