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Lessons of the Currency Crisis in Russia and in Other Countries


  • V. Popov


Articles have been published repeatedly in the pages of Voprosy ekonomiki in which attempts have been made to prove that the exchange rate of the ruble was artificially made too high, that a devaluation was not only desirable but essential to stimulate growth in exports and production, and that if one was not carried out "from above," then it would most likely happen "from below" in the form of a currency crisis.1 Now, almost a year after the crisis, most economists agree that the exchange rate of the ruble was too high, but no unanimity is seen in assessments of the reasons for the August collapse.

Suggested Citation

  • V. Popov, 2000. "Lessons of the Currency Crisis in Russia and in Other Countries," Problems of Economic Transition, Taylor & Francis Journals, vol. 43(1), pages 45-73.
  • Handle: RePEc:mes:prectr:v:43:y:2000:i:1:p:45-73
    DOI: 10.2753/PET1061-1991430145

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    Cited by:

    1. Abbigail J. Chiodo & Michael T. Owyang, 2002. "A case study of a currency crisis: the Russian default of 1998," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 7-18.
    2. repec:bal:journl:2256-0742:2015:1:1:24 is not listed on IDEAS
    3. Popov, Vladimir, 2001. "Currency crises in Russia and other transition economies," MPRA Paper 28117, University Library of Munich, Germany.

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