"In 1998, President Boris Yeltsin's government defaulted on its domestic debt and Russia experienced a financial … economy with the rest of the world. In analyzing the ordeal of the 1998 crisis, Gilman suggests that the IMF helped Russia … Putin in search of stability after the trauma of 1998. And although Russia's own prospects are favorable, Gilman expresses …

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 …