The IMF and Russia
If one ignores exotic rhetoric and remains in a professional framework, it is possible to identify 2 main lines of criticism of the International Monetary Fund's response to the situation in Russia: 1. IMF lost time when it was possible and necessary to energetically support reforms and thus co...
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| Veröffentlicht in: | The American economic review 1997-05, Vol.87 (2), p.13-16 |
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| description | If one ignores exotic rhetoric and remains in a professional framework, it is possible to identify 2 main lines of criticism of the International Monetary Fund's response to the situation in Russia: 1. IMF lost time when it was possible and necessary to energetically support reforms and thus condemned Russia to prolonged crisis and stagnation. 2. In the postsocialist era, due to a special structure of the economy, inflation has a nonmonetary character, which is why ordinary stabilization programs directed at slowing down the rates of money growth are not applicable in those conditions. Excessive tightness and dogmatism of IMF programs condemn them to failure. Complaints about the dogmatism of IMF programs continue. The truth of these claims for the biggest post-socialist economy - the Russian one - are considered. |
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IMF lost time when it was possible and necessary to energetically support reforms and thus condemned Russia to prolonged crisis and stagnation. 2. In the postsocialist era, due to a special structure of the economy, inflation has a nonmonetary character, which is why ordinary stabilization programs directed at slowing down the rates of money growth are not applicable in those conditions. Excessive tightness and dogmatism of IMF programs condemn them to failure. Complaints about the dogmatism of IMF programs continue. 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| fulltext | fulltext |
| identifier | ISSN: 0002-8282 |
| ispartof | The American economic review, 1997-05, Vol.87 (2), p.13-16 |
| issn | 0002-8282 1944-7981 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_38567756 |
| source | Periodicals Index Online; EBSCOhost Business Source Complete; JSTOR Archive Collection A-Z Listing |
| subjects | Agricultural subsidies Applied Economics in Action: The International Monetary Fund Central banks Coups d'etat Currency Development banks Dogmatism Economic aid Economic conditions Economic development Economic growth rate Economic policy Economic reform Economic relations Governmental reform Hard currency Hyperinflation IMF Inflation Inflation rates International financial institutions Monetary policy Politics Russia Socialism Studies Subsidies Success |
| title | The IMF and Russia |
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