research

Shock Therapy and After: Prospects for Russian Reform

Abstract

"In the third year of its transition to a functioning market economy free from high inflation, Russia began its toughest phase in 1994 under the Chernomyrdin government. The approval by the International Monetary Fund (IMF) in March of the second tranche of $1.5 billion signaled support for the economic program of the new government. The subsequent adoption by the Duma (lower house of the parliament) of the government's budget and the signing of the civil accord by several parliamentary factions and industry groups marked a step, albeit fragile, in the direction of national consensus.

    Similar works