This paper explains both the onset of the financial crisis in 1998 and the striking economic recovery afterwards in … Russia and other Former Soviet Union (FSU) economies. Before the crisis banks do not lend to the real sector of the economy … collapse of the treasury bills market in the financial crisis of August 1998 triggers a change in banks lending behavior. A …

This paper explains both the onset of the financial crisis in 1998 and the striking economic recovery afterwards in … Russia and other Former Soviet Union (FSU) economies. Before the crisis banks do not lend to the real sector of the economy … collapse of the treasury bills market in the financial crisis of August 1998 triggers a change in banks lending behavior. A …

collapse of the treasury bills market in Russia in the financial crisis of 1998 reversed this process and thus acted as a …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 …

This paper provides a unified analysis for the onset of the 1998 financial crisis and the strong economic recovery … afterward in Russia and other former Soviet Union countries. Before the crisis a banking failure arose owing to the coexistence …