The inflationary consequences of the devaluation crisis in Russia and Ukraine

Article Abstract:

This article evaluates the transformation from a command to a market economy in Russia and the Ukraine during the 1990s by examining how the devaluation of currency affects prices and inflation; the financial crisis of 1998 is discussed. Despite some progress towards privatization and inflationary control, macroeconomic stabilization is hampered by lack of balanced budgets, resulting in a lack of confidence in the government's ability to maintain a stable exchange rate, limiting opportunities to finance the budget deficit; the increasing vulnerability of the Russian and Ukrainian markets to international market trends, including the Asian crisis; and the perception of foreign investors that the Russian market is a high risk for bankruptcy, followed by the subsequent withdrawal of foreign capital.

Ukraine, Statistical Data Included, Inflation (Finance), Currency devaluation, Devaluation (Currency)

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Conservative modernization in the Soviet Union

Article Abstract:

This article examines the role of modernization in 20th century Russian and Soviet history, describing it as the efforts to turn traditional, agrarian, rural, holistic societies into contemporary, industrial, urban, individualistic ones. The author addresses these issues as preconditions for post-Soviet economic reform, as argued in his book 'The Sickle and the Ruble'.

Former Soviet Union, Economic aspects, History, Social change, Soviet Union, Conservatism, Russian history

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