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121. Russian Financial Crisis Assessment 3: August 27, 1998

Author:
Rado Petkov and Rick Petree
Publication Date:
08-1998
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
The latest private reports from Moscow indicate that the Duma is very likely to reject Viktor Chernomyrdin's candidacy for Prime minister next week. Tomorrow, Aug. 28 th , at 3:00 pm, the Duma and the Federation Council will meet to decide whether to recommend a vote on Chernomyrdin's candidacy. Whereas Chernomyrdin's chances are bleak, the fluid nature of current Russian political situation makes it impossible to firmly rule out his confirmation as prime minister, a post which he very much wants.
Topic:
Conflict Prevention, Economics, and Government
Political Geography:
Russia, Europe, and Asia

122. Russian Financial Crisis Assessment 2: August 25, 1998

Author:
Rado Petkov and Rick Petree
Publication Date:
08-1998
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
Since our Aug. 20th report, the situation in Russia has developed dramatically. On Friday (Aug. 21st), the lower house of the Russian parliament (the Duma) overwhelmingly called for Yeltsin's resignation and changes in the government and the leadership of the central bank. The Duma also passed a non-binding resolution demanding nationalization of some banks and restriction of foreign participation in domestic capital markets. In response, the RTS index of leading Russian shares fell 5.56% to 81.76 on negligible trading volume of $4.2 million. Central bank head Dubinin announced plans to activate Russia's precious metals reserves (approximately $5 billion of $15.1 billion total foreign exchange reserves) to support the ruble. On Sunday, Aug. 23rd, in an action anticipated in our Aug. 17th report, Yeltsin dismissed Prime Minister Sergei Kiriyenko and installed in his place Viktor Chernomyrdin.
Topic:
Conflict Prevention, Economics, and Government
Political Geography:
Russia, Europe, and Asia

123. Russian Financial Crisis Assessment 1: August 20, 1998

Author:
Rado Petkov and Rick Petree
Publication Date:
08-1998
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
Russian capital markets were already in what George Soros described as a “financial meltdown in . . . its terminal phase” on August 12th. Since then, capital markets have deteriorated significantly in reaction to measures announced by the Russian Government on Monday, Aug. 17th (summarized in Section II below). IEWS is actively evaluating the nature and extent of the crisis and trying to project its likely course.
Topic:
Conflict Prevention, Economics, and Government
Political Geography:
Russia, Europe, and Asia

124. Trade Patterns, FDI, and Industrial Restructuring of Central and Eastern Europe

Author:
Paolo Guerrieri
Publication Date:
07-1998
Content Type:
Working Paper
Institution:
Berkeley Roundtable on the International Economy
Abstract:
This paper analyses changes in the trade patterns of Central/Eastern Europe and the former Soviet Union (FSU), and the potential role in the global/European division of labor of these transforming economies. In the reform period (1989–1995) trade pattern of Central and Eastern Europe has experienced significant changes. The most pronounced trend was the strong expansion of trade with the OECD countries, in particular with the European Union, whereas CMEA intraregional trade literally collapsed. This massive geographical reorientation of trade has determined also significant changes in the commodity composition of trade of CEE in the same period.
Topic:
Economics
Political Geography:
Russia, Europe, Eastern Europe, and Asia