Gobbin, Niko; Merlevede, Bruno - In: Post-Communist Economies 12 (2000) 2, pp. 141-163
On 17 August 1998 the Russian authorities devalued the ruble, suspended repayments of ruble-denominated government paper and announced a moratorium on the Russian foreign debt. By doing so the government brought the domestic banking sector to the edge of bankruptcy and risked losing the little...