Reforming a Nation: Implications of IMF Conditionality on Russia
Abstract
Since the end of the cold war and the transition from a centrally-planned to market-oriented economic system, the Russian economy has undergone a staggering and incomplete economic transformation. International financial and technical assistance played a significant role in the evolution of the Russian economy. As the International Monetary Fund (IMF) took a central role in the Russian transition process through the provision of technical and, more importantly, financial assistance, it was able to attach significant conditions to the use of its funds. These conditions ranged from the reform of markets, government revenues and expenditures, to the role of the public sector in the emerging market economy. An unanswered and increasingly important question is whether IMF conditionality has promoted or hindered economic reform and more importantly economic performance. This thesis argues that IMF conditionality combined with mistakes by the Russian government created the 1998 financial crisis.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jun 01, 2003
- Accession Number
- ADA417495
Entities
People
- Kenneth Lieberman
Organizations
- Naval Postgraduate School