This paper examines the causes of the large buildup of enterprise arrears in Russia during 1992, and evaluates policy options to deal with them. Noting the experience of Eastern European countries, the paper emphasizes that the settlement of arrears through wholesale extension of credit would...

The rise and fall of multinational empires have indelibly transformed the political-economic history of Eastern Europe - redrawing its borders, recasting its economic institutions, and redefining the identities of its nations. Just as the political economy of interwar Eastern Europe was shaped...

Central and East European countries have expressed strong fears about Russian gas but did little to reduce dependence. However, recently some progress has been made in the diversification and increasing security of supply. The Russo–Ukrainian gas crisis in early 2009, together with the period...