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  • Author: Vyacheslav Glazychev
  • Publication Date: 06-1999
  • Content Type: Working Paper
  • Institution: The Woodrow Wilson International Center for Scholars
  • Abstract: The pitiful state of public housing in Washington, D.C., was well known in 1994, when Vyacheslav Glazychev, president and founder of the Academy of the Urban Environment in Moscow, was here trying to understand the function of the Advisory Neighborhood Commissions and in 1997 when he returned to spend several months as a Guest Scholar at the Woodrow Wilson Center. Based on his observations of Washington, D.C. and his extensive experience in Moscow, he found that despite the obvious differences in handling the issue of public housing in Washington, D.C. and Moscow, at least one thing is comparable: in both cities money spent on maintenance and repair has been insufficient while priority has long been given to new construction.
  • Topic: Economics, Industrial Policy
  • Political Geography: Russia, United States
  • Author: John Chown
  • Publication Date: 08-1999
  • Content Type: Policy Brief
  • Institution: Chatham House
  • Abstract: Currency boards have been suggested for Russia, and adopted elsewhere in eastern Europe. Brazil's fixed rate has had to be abandoned, but Argentina is considering replacing its currency board with dollarization, and suggesting this solution for the rest of Latin America. Fixed exchange-rate regimes (and the crawling peg in Russia) have collapsed in Southeast Asia but Hong Kong, which had a formal currency board, has (so far) survived.
  • Topic: Economics, International Trade and Finance
  • Political Geography: Russia, Eastern Europe, Latin America, Central America, Caribbean, North America
  • Publication Date: 12-1999
  • Content Type: Policy Brief
  • Institution: The Organisation for Economic Co-operation and Development
  • Abstract: The economic crisis of 1998 has victimised a number of important areas of institutional development and increased social distress among much of the population. A responsible fiscal and monetary response to the crisis, bolstered by a strengthened current account, has helped to stabilise inflation and the exchange rate, although the low level of reserves, the demands of foreign debt service, and threats to the independence of the Central Bank speak for the continued fragility of the achieved level of stability. A restructuring of foreign debt is critical for consolidating trends in the fiscal sphere. While the quick onset of a recovery in GDP in the wake of the weaker rouble is encouraging, delays in structural reforms and low administered input prices raise concern about the quality and sustainability of this growth. The restructuring and regulation of the commercial banking sector continues to pose major challenges to the Central Bank and the Russian government. Throughout a decade of transition, problems in demonetisation and fiscal federalist relations, the particular focus of this Survey, have been important underlying structural obstacles to economic reform. Although some institutional reforms have provided a foundation for a market economy, delays in addressing these and other fundamental problems have impeded efficiency and increased the comparative vulnerability of the Russian economy to external shocks. The future stability and growth of the Russian economy will require the continuation of responsible macroeconomic policies, but depends first and foremost on progress in structural reform, including tax reform, effective institutions of bankruptcy, competition, more decisive and comprehensive measures to combat the process of demonetisation, defend the rule of law, and realise fundamental reform in fiscal federalist relations.
  • Topic: Economics, International Political Economy
  • Political Geography: Russia
  • Author: Oxford Analytica
  • Publication Date: 08-1999
  • Content Type: Policy Brief
  • Institution: Oxford Analytica
  • Abstract: On July 28, the IMF's Board of Directors announced their approval of a 4.5 billion dollar loan to Russia. Rather than representing a breakthrough deal, the agreement is merely the latest chapter in the cycle of non–compliance and renegotiation that has characterised the Fund's relationship with Moscow. With presidential and parliamentary polls scheduled during the next twelve months, electoral pressures will almost certainly prevent the latest macroeconomic programme being implemented. Moreover, unless the root cause of Russia's economic problems—its dire GDP growth rate—is rectified, a further round of comprehensive renegotiations will be required.
  • Topic: Debt, Economics, Government, International Trade and Finance, Political Economy, Politics
  • Political Geography: Russia, Moscow
  • Author: Thomas I. Palley
  • Publication Date: 04-1998
  • Content Type: Working Paper
  • Institution: Council on Foreign Relations
  • Abstract: Over the last nine months the global economy has been roiled by a financial crisis that has moved through Thailand, Malaysia, Indonesia, and South Korea. Japan has also been affected by its wake, as has Russia. So too has Latin America, where Brazil has had to raise interest rates substantially to fend off an incipient currency crisis.
  • Topic: Economics
  • Political Geography: Russia, United States, Japan, Asia, Brazil
  • Author: Daniel K. Tarullo, John Lipsky, Bruce Steinberg, David Jones
  • Publication Date: 11-1998
  • Content Type: Working Paper
  • Institution: Council on Foreign Relations
  • Abstract: Mr. Daniel K. Tarullo: Good morning, ladies and gentlemen. We'd like to get started promptly so that we can end promptly. Welcome to this morning's session on the update of world economic conditions. This is the first in what we anticipate to be a series of updates, perhaps quarterly, sponsored by the Council on Foreign Relations, probably right here in this room, part of a continuing effort to focus on world economic conditions, both for themselves, and as they intersect with foreign policy concerns.
  • Topic: Economics
  • Political Geography: Russia, Europe, Asia, South America, Latin America, North America
  • 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, Asia
  • Author: Dag Hartelius, Natasha Randall
  • Publication Date: 11-1998
  • Content Type: Working Paper
  • Institution: EastWest Institute
  • Abstract: Over the last year we have witnessed a deteriorating climate in Russian-Western relations - or at least this has been the perception. The Russian financial crisis has accelerated the trend in Russia to blame the West - in particular the US - for their troubles. In America and Europe a new debate has been spawned on what kind of Russia we are now dealing with. Old truths, or old perceptions, are being questioned and relations are being reassessed.
  • Topic: International Relations, Economics
  • Political Geography: Russia, United States, America, Europe, Asia
  • Author: Rado Petkov, Rick Petree
  • Publication Date: 09-1998
  • Content Type: Working Paper
  • Institution: EastWest Institute
  • Abstract: The Communist dominated Duma sent a stern message to President Yelstin on September 7th by rejecting his nominee, Viktor Chernomyrdin, for the second time. The vote was 273 against and 138 for (with one abstention). While Chernomyrdin's showing improved substantially from the Duma's first ballot, he still fell far short of the 226 votes needed for Duma approval. Furthermore, his gains came largely from Zhirinovsky's nationalist faction, which has a crass history of trading votes to “the highest bidder.” Yelstin's opposition, on the other hand, benefited from the support of independent deputies comprising a group called “Regions of Russia”: their approval of Chernomyrdin dropped from 86% to 50% in the second round.
  • Topic: Conflict Prevention, Economics, Government
  • Political Geography: Russia, Europe, Asia
  • Author: Allen Collinsworth, Robert Orttung, Rado Petkov, Rick Petree
  • Publication Date: 08-1998
  • Content Type: Working Paper
  • Institution: EastWest Institute
  • Abstract: At approximately 12.30 p.m. EST today, the Duma rejected Chernomyrdin's nomination as Prime Minister by an open ballot vote of 251-94 (with 105 abstaining). 226 votes are needed to confirm him. Chernomyrdin's own Our Home Is Russia party provided most of his support (64 votes). Zhirinovsky's party, the Liberal Democrats, abstained (49 votes). Analysts underscored the weakness of support for Chernomyrdin by noting that, in the first round of voting on the nomination of Prime Minister Kiriyenko five months ago, Kiriyenko polled 143 votes in favor. This was in secret balloting, however, which to some extent invalidates the comparison.
  • Topic: Conflict Prevention, Economics, Government
  • Political Geography: Russia, Europe, Asia