Stabilization and Structural Change in Russia, 1992-94

Koen, Vincent; Marrese, Michael

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Stabilization and Structural Change in Russia, 1992-94

IMF Working Paper No. 95/13

32 Pages Posted: 15 Feb 2006

See all articles by Vincent Koen

Vincent Koen

Organization for Economic Co-Operation and Development (OECD)

Michael Marrese

affiliation not provided to SSRN

Date Written: January 1995

Abstract

Macroeconomic stabilization and structural reforms in Russia since 1992 have been proceeding in a rather chaotic fashion. The Russian variety of economic gradualism has seen a sharp decline in output, though less than indicated by official statistics, and relatively resilient household consumption. Hyperinflation has been avoided so far by tightened financial policies, but remains a threat. Conventional macroeconomic wisdom on the relation between money, prices and output is relevant for Russia. Moreover, stabilization and structural change interact and are mutually reinforcing.

JEL Classification: E23, E24, E31, E37, E51, E52, E62, E63, P27

Suggested Citation: Suggested Citation

Koen, Vincent and Marrese, Michael, Stabilization and Structural Change in Russia, 1992-94 (January 1995). IMF Working Paper No. 95/13, Available at SSRN: https://ssrn.com/abstract=883163