Titlebook: Restructuring, Stabilizing and Modernizing the New Russia; Economic and Institu Paul J. J. Welfens,Evgeny Gavrilenkov Book 2000 Springer-Ve

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Restructuring, Stabilizing and Modernizing the New RussiaEconomic and Institu

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d upon a difficult process of systemic transformation and economic opening up. While the initial strong GDP decline seemed to have ended in 1997, the real development was facing even more difficult problems as output declined sharply after the Ruble and banking crisis of August 1998: inflation start

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Institutional Failures of Market Transformation of the Russian Economy gap between the financial and real sectors, growing income inequalities and unemployment, accumulating shortcomings of the system of state finances and banking are among the most evident and destructive consequences of the previous path of social-economic reform.

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Russian Economy: Structural Change and Econometric Prospectiveer the process of model making itself helps significantly in understanding and clarifying economic realities. Therefore, first we present a short description of the models we have and problems that we encountered while modeling, and then proceed to some economic results.

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Economic Opening-Up, Policy Reforms and Relations with International Organizations: A Parallel betweeven before the 90’s. The Hungarian liberalization process was relatively quick and consequently painful, it was a real shock for a considerable part of Hungarian companies. As a result by now the average level of tariffs is below 5%.