Abstract
With the Perestroika the former Soviet Union is believed to have joined the ill-fated club of countries plagued by severe inflation and even hyperinflation. Money and finance have became key words now in Russia and among successor states of the once proud USSR. However, if it is common knowledge that transition to a market economy could lead to sharp monetary disequilibria, their nature is far from clear and not easily understood.
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On the local currency in Krasnoyarsk, the ‘augram’, see Izvestiya (22 July 1992), p. 2; the rise of autonomism in Siberia is well documented in Delovaya Sibir (28 March — 3 April 1992), p. 3; Sibirskaya Gazeta (6–12 April 1992), p. 1 and Novosibiskoe Novosti (2–7 April 1992), p. 3; consequences of Gaydar’s policies as increasing these tensions are analysed by L. Latypova in Narodnyy Deputat, no. 10 (July 1992), pp. 45–8 and V. Kukharenko and V. Serov in Sibirskaya Gazeta, no. 26 (June 1992), pp. 1, 5.
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Nezavissimaya Gazeta (21 May 1992), p. 2.
The classical example of which is given in H. Schacht, The Stabilization of the Mark (London: Allen & Unwin, 1927).
Nezavissimaya Gazeta (21 May 1992), p. 2.
L. Taylor, ‘The Post-Socialist Transition from a Development Economics Point of View’, Paper Delivered to the Conference From a System of Central Planning to a Market Economy, Helsinky, 6–7 February 1992. See also, L. Taylor, ‘The Market Met its Match’, in Journal of Comparative Economics, pp. 64–87, vol. 19, no. 1 (1994).
About structural deformations, see J. Sapir, Feu le Système Soviétique? (Paris: La Decouverte, 1992) and the translation in Russian of the economic part of this book, ‘Strukturnye Aspekty Reformy’, Mirovaja Ekonomika i Mezhdunarodnaja Otnoshenija, no. 11 (1992), no. 12 (1992).
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Sapir, J. (1996). Inflation and Transition: from Soviet Experience to Russian Reality. In: Sen, S. (eds) Financial Fragility, Debt and Economic Reforms. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-13801-2_12
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