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Escape routes from post-Soviet inflation and recession.(Transition: Achievements and Challenges): An article from: Finance & Development
Michael Kaser
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This digital document is an article from Finance & Development, published by International Monetary Fund on June 1, 1999. The length of the article is 2838 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
From the supplier: The 12 countries comprising the Commonwealth of Independent States (CIS) inherited from the Soviet system strong inflationary pressures and distorted prices. All 12 continued to use the Soviet currency after the dissolution of the union and were compelled to follow Russia's lead in decontrolling most retail and wholesale prices in 1992. The adoption of this measure triggered a persistent price rise and led to the spread of inflation throughout the former Soviet Union. By 1993, consumer prices had risen by 875% in Russia, 4,085% in Georgia, and 4,735% in Ukraine. Inflation slowed down only after the CIS countries introduced separate currencies. For governments whose commitment to fight inflation has been weakened by the 1998 economic crisis, it may be prudent to resort to some money creation if spending to stimulate the measured economy at the expense of the information exceeds revenue and credit.
Citation Details
Title: Escape routes from post-Soviet inflation and recession.(Transition: Achievements and Challenges)
Author: Michael Kaser
Publication: Finance & Development (Magazine/Journal)
Date: June 1, 1999
Publisher: International Monetary Fund
Volume: 36 Issue: 2 Page: 24(4)
Distributed by Thomson Gale