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The IMF and Russia in the 1990's

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  • John C. Odling-Smee

Abstract

This paper explains the IMF's impact on economic policies in Russia, focusing on where the IMF made a difference. The Russian economic and political leadership essentially determined economic policies. The IMF's influence was modest: it had only a limited impact on overall fiscal policy and the major structural reforms, but it had a positive impact on monetary policy. A tougher position on fiscal policy in 1996-98 might have produced a better outcome. The G-7's concerns weakened the IMF. However, the IMF played a major role in transferring knowledge about macroeconomic policymaking and implementation.

Suggested Citation

  • John C. Odling-Smee, 2004. "The IMF and Russia in the 1990's," IMF Working Papers 04/155, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:04/155
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=17527
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    References listed on IDEAS

    as
    1. Stanley Fischer & Ratna Sahay, 2000. "The Transition Economies After Ten Years," IMF Working Papers 00/30, International Monetary Fund.
    2. Jeffrey M. Davis & A. Cheasty, 1996. "Fiscal Transition in Countries of the Former Soviet Union; An Interim Assessment," IMF Working Papers 96/61, International Monetary Fund.
    3. Stanley Fischer & Ratna Sahay, 2000. "The Transition Economies After Ten Years," NBER Working Papers 7664, National Bureau of Economic Research, Inc.
    4. Jack Diamond & Barry H Potter, 2000. "Setting Up Treasuries in the Baltics, Russia, and other Countries of the Former Soviet Union," IMF Occasional Papers 198, International Monetary Fund.
    5. Daniel Citrin & Ashok Lahiri, 1995. "Policy Experiences and Issues in the Baltics, Russia, and Other Countries of the Former Soviet Union," IMF Occasional Papers 133, International Monetary Fund.
    6. Gaidar, Yegor, 1997. "The IMF and Russia," American Economic Review, American Economic Association, vol. 87(2), pages 13-16, May.
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