Enterprises in post-communist economies have been subject to a wide range of shocks as the old economic order has been swept away. It has been claimed that among the most important of these shocks have been: elimination of soft budget constraints, foreign trade shocks, and over-devaluation. The...

This book explores the disastrous economic consequences of pseudo lending for pseudo reforms that occurred when the IMF, as a representative of the West, pretended to aid the transition economy of post-communist Russia through stabilization while the Russian government promised reforms