Russia had more-or-less completed the privatization of its manufacturing and natural resource sectors by the end of 1997. And in February 1998, the annual inflation rate at last dipped into the single digits. Privatization should have helped with stronger micro-foundations for growth. The conquest of inflation should have cemented macroeconomic credibility, lowered real interest rates, and spurred investment. Instead, Russia suffered a massive public...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2010/05/01
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Рабочий документ в рамках исследования вопросов политики
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WPS5312
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1
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1
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2010/07/01
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Disclosed
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Financial globalization and the Russian crisis of 1998
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real interest rate