This essay analyzes the continuing integration of several transition economies of Europe, the former Soviet Union (FSU) and Asia into the world trading and financial system in the period 1990-95. Suitable norms are developed in the essay for comparing and ranking the integration record of the...

By the end of 1993, the unified and freely convertible ruble on current account represented a major step in Russia’s foreign exchange management. The monetarist model of this paper (which gives a robust estimate of the real exchange rate) suggests that the impact of the gap between available...

In this paper, we propose an analytical framework suggesting that wage nonpayment in the Russian state sector and privatized factories, which resulted from acute cash flow problems in both, reflected an implicit contract among the government, managers and labor against worker layoff. We analyze...

In this paper we use a longitudinal survey of Russian households for analyzing the impact of wage arrears on the incidence of poverty among families and their survival strategies. The failure of enterprises and government to fully pay workers in a timely fashion is shown to be associated with a...

In this paper we investigate the decisions of Russian managers in distributing wage non-payment in Russia during the 1994-96 period. Using a longitudinal survey of households, we identify a pattern of wage arrears across regions and industries which suggests that managers allocated non-payment...