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The divergence between production and consumption indicators in Russia suggests that the magnitude of the output collapse in the course of the transition is overstated by the official statistics. Alternative estimates for real GDP are derived, which reconcile the official production and consumption data. Based on cautious assumptions, real GDP appears to have declined cumulatively by no more than one third rather than by one half. The drop in household welfare is much smaller still, as the output mix shifts and deadweight losses are sharply reduced.
The divergence between production and consumption indicators in Russia suggests that the magnitude of the output collapse in the course of the transition is overstated by the official statistics. Alternative estimates for real GDP are derived, which reconcile the official production and consumption data. Based on cautious assumptions, real GDP appears to have declined cumulatively by no more than one third rather than by one half. The drop in household welfare is much smaller still, as the output mix shifts and deadweight losses are sharply reduced.
The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.
Supporting Studies for the World Economic Outlook, prepared by IMF staff, provide a more detailed analysis of issues recently covered in the main pubication. The current edition includes studies of globalization and growth, the future of the international financial system, currency crises, business cycles and exchange rates, supply-side issues in the contractions experienced in the Baltics, Russia, and other countries of the former Soviet Union, and challenges to European labor markets posed by European Economic and Monetary Union (EMU).
The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.
At the invitation of the regional authorities, the OECD organised a conference in Tomsk on a regional approach to industrial restructuring in June 1997. This report presents the economic assessment, conference conclusions and recommendations.
The World Economic Outlook, published twica a year in English, French, Spanish, and Arabic, presents IMF staff economists analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.
This book provides a detailed analysis of the social problems facing the Russian Federation, and develops proposals for continuing reform to improve the economic fundamentals, including the productivity, while at the same time ensuring that social and labour market policies become more effective.
This work examines the political and organizational factors that have shaped Russian economic reforms since the demise of the Soviet Union. The author draws on a variety of sources - including interviews conducted in Ekaterinburg, Voronezh and Smolensk - to present a multilayered portrait of the successes, failures and umintended consequences of the reforms. The book covers: the consequence of dissolving the USSR and Russia's role in the CIS; political transition; economic reform; assessment of the political and social implications of neo-liberal moneterism and of the voucher privatisation programme; and both regional and federal structures and processes.
The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.