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This paper examines the evolution of the exchange rate of the ruble vis-à-vis the U.S. dollar from exchange rate unification, in July 1992, to the end of 1993. The expected and actual paths of the exchange rate are related to the exchange and trade regime and to the stance of financial and...
Persistent link: https://www.econbiz.de/10014398142
This paper assesses the effect of constrained trade finance on trade flows in countries undergoing financial and balance of payments crises. Most of the countries that had a major crisis had a significant trade contraction, while trade-related finance declined sharply. However, trade may also be...
Persistent link: https://www.econbiz.de/10014404046
This paper explains the IMF''s impact on economic policies in Russia, focusing on where the IMF made a difference. The Russian economic and political leadership essentially determined economic policies. The IMF''s influence was modest: it had only a limited impact on overall fiscal policy and...
Persistent link: https://www.econbiz.de/10014404092
This paper reviews lessons learned for future technical assistance work in the hope that they will highlight the problems faced when introducing institutional changes in transitional economies. The findings from the assessment are intended principally for those interested in the development of...
Persistent link: https://www.econbiz.de/10014404965
Since 1992, the Russian Federation has moved away from a command economy and has laid the foundation of a market-based system. This paper examines some of the key fiscal policy issues that arose in 1992-96, the period following the onset of economic liberalization and reform
Persistent link: https://www.econbiz.de/10014404974
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