The cash don't work
Article Abstract:
Russian attitudes toward money prior to communism show mismanagement, and this can be linked to the Russian debt default of summer 1998. Monetary discipline was lacking in Russia before communism, but Soviet rule was not helpful either. Prices and money became illusory and money was not seen as a store of value. Economic changes after communism were not managed well by the state which did not understand the new economic system. Lack of price information means that it is difficult to assess whether companies are destroying or creating value, and this hampers decisions on investment and credit.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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Twilight zone: the rouble
Article Abstract:
Most of the countries of the Commonwealth of Independent States have replaced the rouble with their own currencies. Republics are leaving the rouble zone as they begin economic reforms and try to protect themselves from inflation in Russia.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1993
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