Rouble trouble
Article Abstract:
Russia is suffering from a financial crisis, with its stockmarket performance ranking the worst in the world. Many blamed the Asian financial crisis, but in Jan 1998, it became clear this was a Russian problem. In Jun, the stockmarket fell below 70% and interest rates temporarily rose to 80%. Inflation has been under control and the Ministry of Finance reduced the 1998 budget deficit to 5% of Gross Domestic Product.
Publication Name: The World Today
Subject: Political science
ISSN: 0043-9134
Year: 1998
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If you take my advice
Article Abstract:
The Russian economic crisis has intensified the debate concerning the uniqueness of its economy and the role of Western institutions, governments, and experts. Although Western institutions belive the Russian economy is much like other economies and can be revived with universal market-oriented policies without governmental interference, others believe their prescriptions are biased, corrupt, and ineffective.
Publication Name: The World Today
Subject: Political science
ISSN: 0043-9134
Year: 1998
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Bleak winter
Article Abstract:
The Russian economic turmoil began in Aug 17, 1998 with the devaluation of the rouble. The consumer prices increased more than 40% and real wages were cut by almost a third. Reports from Russia reveal that the number of Russian living below poverty rose from 21.4% to 30.1%, indicating that this may be the harshest winter Russians would witness in decades.
Publication Name: The World Today
Subject: Political science
ISSN: 0043-9134
Year: 1998
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