The Resource Case Study of a Currency Crisis: The Russian Default of 1998
Case Study of a Currency Crisis: The Russian Default of 1998
Resource Information
The item Case Study of a Currency Crisis: The Russian Default of 1998 represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in Bowdoin College Library.This item is available to borrow from 1 library branch.
Resource Information
The item Case Study of a Currency Crisis: The Russian Default of 1998 represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in Bowdoin College Library.
This item is available to borrow from 1 library branch.
- Summary
- This paper uses a currency crisis framework to analyze the currency devaluation and debt default of post-Soviet Russia in August 1998. The authors show that even though the Russian economy recorded positive growth immediately preceding the default, the atmosphere was reflective of an impending crisis. The authors then consider the symptoms of a currency crisis -- specifically public and private debt responsibilities, devaluation expectations, and contractionary monetary policy -- and show that they were present in Russia at that time. Three generations of currency crisis models are reviewed, followed by speculation that the Russian default was a product not only of fiscal deficits but also of a fragile financial system and contractionary monetary policy. The authors address the possibility that the usual prescription for a currency crisis, that is, increasing interest rates, may have accelerated the default and that a case-by-case prescription may afford a better solution than a blanket policy of increasing interest rates in the face of devaluation
- Note
- 1271
- Label
- Case Study of a Currency Crisis: The Russian Default of 1998
- Title
- Case Study of a Currency Crisis: The Russian Default of 1998
- Summary
- This paper uses a currency crisis framework to analyze the currency devaluation and debt default of post-Soviet Russia in August 1998. The authors show that even though the Russian economy recorded positive growth immediately preceding the default, the atmosphere was reflective of an impending crisis. The authors then consider the symptoms of a currency crisis -- specifically public and private debt responsibilities, devaluation expectations, and contractionary monetary policy -- and show that they were present in Russia at that time. Three generations of currency crisis models are reviewed, followed by speculation that the Russian default was a product not only of fiscal deficits but also of a fragile financial system and contractionary monetary policy. The authors address the possibility that the usual prescription for a currency crisis, that is, increasing interest rates, may have accelerated the default and that a case-by-case prescription may afford a better solution than a blanket policy of increasing interest rates in the face of devaluation
- http://library.link/vocab/creatorName
-
- Chiodo, Abbigail J
- Inter-university Consortium for Political and Social Research [distributor]
- http://library.link/vocab/relatedWorkOrContributorName
- Owyang, Michael T.
- Label
- Case Study of a Currency Crisis: The Russian Default of 1998
- Note
- 1271
- Control code
- ICPSR01271.v1
- Governing access note
- Access restricted to subscribing institutions
- Label
- Case Study of a Currency Crisis: The Russian Default of 1998
- Note
- 1271
- Control code
- ICPSR01271.v1
- Governing access note
- Access restricted to subscribing institutions
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.bowdoin.edu/portal/Case-Study-of-a-Currency-Crisis-The-Russian/JsTWgVyRVzw/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.bowdoin.edu/portal/Case-Study-of-a-Currency-Crisis-The-Russian/JsTWgVyRVzw/">Case Study of a Currency Crisis: The Russian Default of 1998</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.bowdoin.edu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.bowdoin.edu/">Bowdoin College Library</a></span></span></span></span></div>
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.bowdoin.edu/portal/Case-Study-of-a-Currency-Crisis-The-Russian/JsTWgVyRVzw/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.bowdoin.edu/portal/Case-Study-of-a-Currency-Crisis-The-Russian/JsTWgVyRVzw/">Case Study of a Currency Crisis: The Russian Default of 1998</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.bowdoin.edu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.bowdoin.edu/">Bowdoin College Library</a></span></span></span></span></div>
