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[null,"1.","Record Nr.",null,"UNINA9910958387003321"]
[null,null,"Autore",null,"Melloni Nicola"]
[null,null,"Titolo",null,"Market Without Economy : The 1998 Russian Financial Crisis / / Eiji Furukawa, Nicola Melloni, Andreas Umland"]
[null,null,"Pubbl/distr/stampa",null,"Hannover, : ibidem, 2014"]
[null,null,"ISBN",null,"9783838254074"]
[{"$nulls":4},"3838254074"]
[null,null,"Edizione",null,"[1st ed.]"]
[null,null,"Descrizione fisica",null,"1 online resource (156 p.)"]
[null,null,"Collana",null,"Soviet and Post-Soviet Politics and Society ; 40"]
[null,null,"Disciplina",null,"330.947"]
[null,null,"Soggetti",null,"Economy"]
[{"$nulls":4},"Market"]
[{"$nulls":4},"Russia"]
[null,null,"Lingua di pubblicazione",null,"Inglese"]
[null,null,"Formato",null,"Materiale a stampa"]
[null,null,null,"Livello bibliografico","Monografia"]
[null,null,null,"Note generali","Description based upon print version of record."]
[null,null,null,"Nota di bibliografia","Includes bibliographical references."]
[null,null,"Nota di contenuto",null,"\"\"Contents\"\"; \"\"List of Tables\"\"; \"\"List of Figures\"\"; \"\"Acknowledgements\"\"; \"\"Foreword\"\"; \"\"Introduction\"\"; \"\"I The Russian Stabilisation Programme\"\"; \"\"I.1 Initial Considerations\"\"; \"\"I.2 The Case of Russia\"\"; \"\"I.3 Macroeconomic Aspects\"\"; \"\"Monetary Policy\"\"; \"\"Fiscal Policy\"\"; \"\"I.4 The Microeconomics of Stabilisation\"\"; \"\"I.5 Conclusions\"\"; \"\"II Russian Default and Financial Crisis Theory\"\"; \"\"II.1 Theoretical Background\"\"; \"\"First Generation Model\"\"; \"\"Second Generation Model\"\"; \"\"Third Generation Model\"\"; \"\"The Contagion Effect\"\"; \"\"II.2 The Russian Financial Crisis\"\""]
[{"$nulls":4},"\"\"Literature Review\"\"\"\"Setting the Stage: What Was Happening in 1998\"\"; \"\"The Crisis Itself\"\"; \"\"II.3 Conclusion\"\"; \"\"III The Aftermath of the Crisis\"\"; \"\"III.1 Introduction\"\"; \"\"III.2 Growth and Inflation\"\"; \"\"III.3 Microeconomic Effects of the Crisis\"\"; \"\"III.4 Public Finances\"\"; \"\"III.5 Final Considerations\"\"; \"\"Conclusions\"\"; \"\"Appendix\"\"; \"\"Bibliography\"\""]
[null,null,null,"Sommario/riassunto","The 1998 financial crisis in Russia was one of the most dramatic economic breakdowns of the last decade and symbolized the failure of the transition process as it had been conducted since the end of the Soviet Union. There is no general agreement on the nature of the rouble collapse; a number of contradictory interpretations have been discussed among economists. This book argues that the Russian 1998 financial turmoil is best predicted by Krugman’s and Sargent-Wallace’s models. The currency collapse had its origins in the peculiar way in which the transition was managed. In particular, the Russian "]
[{"$nulls":4},"government became entrapped into the double constraint of a tight monetary policy imposed by the IMF, on the one side, and a loose fiscal policy to support the private sector, on the other. Those policies were inconsistent, and led to inflationary processes that were postponed through emission of a large amount of Treasury Bonds to finance the fiscal deficit. At the same time, a tight monetary policy retarded the recovery of the industrial sector. While the particular timing of the crisis was co-determined by other factors, such as the Asian financial crisis and the fall of the oil price, it was this incoherent monetary and financial policies mix that constituted the main cause of the rouble’s spectacular collapse in August 1998. The book provides extensive coverage of a decade of Russian reforms. It criticizes neo-liberal ideology and the course of the transition process supported by the “Washington Consensus.”"]