This book examines history of Russian finances in the period of Russia's transition from communism to capitalism in the 1990s and in the current decade. It focuses on obstacles to market reforms and macroeconomic policy choices that resulted in the state debt expansion and the financial crisis...

The problem of servicing the sovereign debt of Russia attracted the steadfast attention of economists and politicians comparatively recently. The financial crisis, as a result of which the Russian state ended up at the brink of complete bankruptcy, moved to the forefront questions of the...

The paper demonstrates how trade between developing countries can cause the divergence of long-run growth among these countries. The model describes two symmetric countries trading with each other and the industrial rest of the world. Bilateral trade occurs at any moment if the countries have...