The roots of the economic crisis

Article Abstract:

Officials, both inside and outside Russia, have put forward a number of reasons for the economic collapse of Russia in Aug 1998. These explanations include the effects of the Asian economic crisis, the sacking of Prime Minister Viktor Chernomyrdin, and the lack of State Duma support for the economic program. An examination of all the explanations reveals that none had sufficient importance to cause the collapse. Two factors, an irresponsible fiscal policy and overvaluing of the ruble, were the main cause of the collapse, but political issues concerning the banks also contributed to the crisis.

Economic aspects, Russia, Depressions, Economic depressions

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Crisis and opportunity in Africa

Article Abstract:

The political institutions in the African countries are too weak to sustain privatization and trade liberalization. Hence the international organizations such as the United Nations Economic Commission for Africa must address themselves to the needs of the legislature, the judiciary, the police, the ministry of finance, and the central bank. In these new democracies, the efforts must be directed at empowering the judicial structures, making stringent laws, and protecting the rights of the people.

Analysis, Economic development, Africa, United Nations. Economic Commission for Africa

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Crisis and contention in Ecuador

Article Abstract:

Issues concerning the insecure democracy of Ecuador are discussed, with particular focus on the characteristics of the economic and political crisis in this country. A history of the political events under the presidency of Jamil Mahuad is given.

Ecuador, Politics

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