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Author:
Publisher: Hoover Press
ISBN: 9780817953638
Category :
Languages : en
Pages : 28
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Book Description
Author:
Publisher: Hoover Press
ISBN: 9780817953638
Category :
Languages : en
Pages : 28
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Book Description
Author: Martin G. Gilman
Publisher: MIT Press
ISBN: 0262014653
Category : Business & Economics
Languages : en
Pages : 355
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Book Description
Review: "In 1998, President Boris Yeltsin's government defaulted on its domestic debt and Russia experienced a financial meltdown that brought it to the brink of disaster. In No Precedent, No plan, Martin Gilman offers an insider's view of Russia's financial crisis. As the International Monetary Fund's senior person in Moscow, Gilman was in the eye of the storm. Russia's policy response to the economic collapse stemming from the disintegration of the Soviet Union was chaotic. Fiscal deficits loomed in anticipation of future budget revenue that never seemed to materialize--despite repeated promises to the IMF. The rapid buildup of sovereign debt would have challenged even a competent government. In the new Russia, with its barely functioning government and no consensus on the path toward democratic and economic transformation, domestic politics trumped economic common sense." "Gilman argues that the debt default, although avoidable, actually spurred Russia to integrate its economy with the rest of the world. In analyzing the ordeal of the 1998 crisis, Gilman suggests that the IMF helped Russia avoid an even greater catastrophe. He details the IMF's involvement and underscores the unique challenge that Russia presented to the IMF. There really was no precedent, even if economist Joseph Stiglitz and others argued otherwise. In recounting Russia's emergence from the IMF's tutelage, Gilman explains how the shell-shocked Russian public turned to Vladimir Putin in search of stability after the trauma of 1998. And although Russia's own prospects are favorable, Gilman expresses concern that the 1998 Russian default could serve as an unfortunate precedent for sovereign defaults in the future with the IMF once again playing a similar role." "No Precedent, No Plan offers a definitive account--the first from an insider's perspective--of Russia's painful transition to a market economy."--BOOK JACKET
Author:
Publisher:
ISBN:
Category : Communism
Languages : en
Pages :
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Book Description
Author: Alexey Malashenko
Publisher: Brookings Institution Press
ISBN: 0870034138
Category : Political Science
Languages : en
Pages : 310
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Book Description
Russian influence in Central Asia is waning. Since attaining independence, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan have forged their own paths—building relationships with outside powers and throwing off the last vestiges of Soviet domination. But in many ways, Moscow still sees Central Asia through the lens of the Soviet Union, and it struggles to redefine Russian relations with the region. In The Fight for Influence, Alexey Malashenko offers a comprehensive analysis of Russian policies and prospects in Central Asia. It is clear that Russian policy in the formerly Soviet-controlled region is entering uncharted territory. But does Moscow understand the fundamental shifts under way? Malashenko argues that it is time for Russia to rethink its approach to Central Asia. Contents 1. Wasted Opportunities 2. Regional Instruments of Influence 3. Russia and Islam in Central Asia: Problems of Migration 4. Kazakhstan and Its Neighborhood 5. Kyrgyzstan—The Exception 6. Tajikistan: Authoritarian, Fragile, and Facing Difficult Challenges 7. Turkmenistan: No Longer Exotic, But Still Authoritarian 8. Uzbekistan: Is There a Potential for Change? Conclusion Who Challenges Russia in Central Asia?
Author: Bobo Lo
Publisher: Brookings Institution Press
ISBN: 0815725574
Category : History
Languages : en
Pages : 370
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Book Description
A Brookings Institution Press and Chatham House publication The Russian annexation of Crimea was one of the great strategic shocks of the past twenty-five years. For many in the West, Moscow's actions in early 2014 marked the end of illusions about cooperation, and the return to geopolitical and ideological confrontation. Russia, for so long a peripheral presence, had become the central actor in a new global drama. In this groundbreaking book, renowned scholar Bobo Lo analyzes the broader context of the crisis by examining the interplay between Russian foreign policy and an increasingly anarchic international environment. He argues that Moscow's approach to regional and global affairs reflects the tension between two very different worlds—the perceptual and the actual. The Kremlin highlights the decline of the West, a resurgent Russia, and the emergence of a new multipolar order. But this idealized view is contradicted by a world disorder that challenges core assumptions about the dominance of great powers and the utility of military might. Its lesson is that only those states that embrace change will prosper in the twenty-first century. A Russia able to redefine itself as a modern power would exert a critical influence in many areas of international politics. But a Russia that rests on an outdated sense of entitlement may end up instead as one of the principal casualties of global transformation.
Author: David Woodruff
Publisher: Cornell University Press
ISBN: 1501711466
Category : Political Science
Languages : en
Pages : 249
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Book Description
Since the collapse of the Soviet Union, Russians have seen the ruble steadily lose ground to alternative means of payment such as barter and privately issued quasi-monies. Industry now collects as much as 70 percent of its receipts in nonmonetary form, leaving many firms with too little cash to pay salaries and taxes. In this ground-breaking book on the Russian economy, David Woodruff argues that Moscow's inability to control the nation's currency is not a carry-over from the Soviet past. Rather, the Russian government has failed to build the administrative capacity and political support demanded by monetary consolidation—a neglected but crucial aspect of capitalist statebuilding. Drawing on a vast array of empirical evidence, Woodruff shows how the widespread use of barter arose as local authorities tried to protect industry against the destructive effects of price increases and crude tax and accounting systems. As businesses fled or were driven from the money economy, provincial governments invented new ways to tax in kind and issued substitutes for the ruble. In turn, the federal authorities, unable to coerce firms either to operate in the money economy or to abandon business altogether, were forced to make accommodations to barter and to ruble alternatives. Woodruff describes the enormous fiscal difficulties that resulted and recounts the intense political battles over attempts to address the problem. Through an overview of monetary consolidation in other nations, Woodruff demonstrates that the struggles of the new Russian state have much to teach us about the political history of money worldwide. Sovereignty over money cannot, he argues, be imposed by government on a recalcitrant society. Nor can it be assumed as a by-product of disciplined policies aimed at market reform. Monetary consolidation is, at heart, a political achievement requiring political support.
Author: Nicholas Mulder
Publisher: Yale University Press
ISBN: 0300259360
Category : BUSINESS & ECONOMICS
Languages : en
Pages : 449
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Book Description
Tracing the history of economic sanctions from the blockades of World War I to the policing of colonial empires and the interwar confrontation with fascism, Nicholas Mulder combines political, economic, legal, and military history to reveal how a coercive wartime tool was adopted as an instrument of peacekeeping by the League of Nations.This timely study casts an overdue light on why sanctions are widely considered a form of war, and why their unintended consequences are so tremendous.
Author: Kristy Ironside
Publisher: Harvard University Press
ISBN: 0674251644
Category : History
Languages : en
Pages : 321
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Book Description
A new history shows that, despite MarxismÕs rejection of money, the ruble was critical to the Soviet UnionÕs promise of shared prosperity for its citizens. In spite of Karl MarxÕs proclamation that money would become obsolete under Communism, the ruble remained a key feature of Soviet life. In fact, although Western economists typically concluded that money ultimately played a limited role in the Soviet Union, Kristy Ironside argues that money was both more important and more powerful than most histories have recognized. After the Second World War, money was resurrected as an essential tool of Soviet governance. Certainly, its importance was not lost on Soviet leaders, despite official Communist Party dogma. Money, Ironside demonstrates, mediated the relationship between the Soviet state and its citizens and was at the center of both the governmentÕs and the peopleÕs visions for the maturing Communist project. A strong rubleÑone that held real value in workersÕ hands and served as an effective labor incentiveÑwas seen as essential to the economic growth that would rebuild society and realize CommunismÕs promised future of abundance. Ironside shows how Soviet citizens turned to the state to remedy the damage that the ravages of the Second World War had inflicted upon their household economies. From the late 1940s through the early 1960s, progress toward Communism was increasingly measured by the health of its citizensÕ personal finances, such as greater purchasing power, higher wages, better pensions, and growing savings. However, the increasing importance of money in Soviet life did not necessarily correlate to improved living standards for Soviet citizens. The Soviet governmentÕs achievements in Òraising the peopleÕs material welfareÓ continued to lag behind the WestÕs advances during a period of unprecedented affluence. These factors combined to undermine popular support for Soviet power and confidence in the Communist project.
Author: Daniel Sheldon Hamilton
Publisher:
ISBN: 9780990772095
Category : Political Science
Languages : en
Pages : 0
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Book Description
The future of Europe's east is open. Can the societies of this vast region become more democratic and secure and integrate into the European mainstream? Or are they destined to become failed, fractured lands of grey mired in the stagnation and turbulence historically characteristic of Europe's borderlands? How and why is Russia seeking to influence these developments, and what is the future of Russia itself? How should the West engage?
Author: Ekaterina Pravilova
Publisher: Oxford University Press
ISBN: 0197663710
Category :
Languages : en
Pages : 561
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Book Description
A groundbreaking history of Russia, from empire to the Soviet era, viewed through the lens of its money. Money seems passive, a silent witness to the deeds and misdeeds of its holders, but through its history intimate dramas and grand historical processes can be told. So argues this sweeping narrative of the ruble's story from the time of Catherine the Great to Lenin. The Russian ruble did not enjoy a particularly reputable place among European currencies. Across two hundred years, long periods of financial turmoil were followed by energetic and pragmatic reforms that invariably ended with another collapse. Why did a country with an industrializing economy, solid private property rights, and (until 1918) a near perfect reputation as a rock-solid repayer of its debts stick for such a prolonged period with an inconvertible currency? Why did the Russian gold standard differ from the European model? In answering these questions, Ekaterina Pravilova argues that politics and culture must be considered alongside economic factors. The history of the Russian ruble offers an opportunity to explore the political reasons behind the preservation of a supposedly backward financial system and to show how politicians used monetary reforms to block or enact political transformations. The Ruble is a history of Russia written in the language of money. It shows how economists, landowners, merchants, and peasants understood, perceived, and used financial mechanisms. In her sweeping account, Pravilova interprets the well-known political events of the eighteenth to early twentieth centuries--wars, attempts at constitutional transformations, revolutions--through the ideas and politics of currency reforms and offers a new history of Russia's imperial expansion and collapse.
