Lessons from the Russian Crisis of 1998 and Recovery

Pinto, Brian; Gurvich, E.; Ulatov, Sergei

doi:10.1017/cbo9780511510755.012

Cited by 11 publications

(5 citation statements)

References 20 publications

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“…36 Future work can usefully extend the analysis to test its empirical relevance. For example, Herrera (2004) describes the sequence of policy actions and evolution of the macroeconomic policy mix including debt management in Brazil, and Pinto, Gurvich, and Ulatov (2004) describe this for Russia, which can be useful in identifying the timing of policy shifts and changes in the composition of debt and their relationship with fiscal and monetary policies. Another area of research is a closer examination of the cyclical characteristics of monetary policy and its impact on debt management.…”

Section: Discussionmentioning

confidence: 99%

Coordinating Public Debt Management With Fiscal And Monetary Policies : An Analytical Framework

Togo¹

2007

Policy Research Working Papers

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The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

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Section: Discussionmentioning

confidence: 99%

Coordinating Public Debt Management With Fiscal And Monetary Policies : An Analytical Framework

Togo¹

2007

Policy Research Working Papers

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“…40 Another reason is the interaction of the swap with existing investor portfolios, which in Russia's case meant rising margin calls on the commercial banks' holdings of government dollar-denominated paper purchased on margin, the 40 A formal analytical statement of this argument can be found in Aizenman, Kletzer and Pinto (2005). For more on the Russian swap and why it failed, see Kharas, Pinto and Ulatov (2001) and Pinto, Gurvich and Ulatov (2005).…”

Section: Lessons and Insights From Russia 1998mentioning

confidence: 99%

“…c / Does not capture the subsequent debt renegotiation. Source: Table9.1,Pinto, Gurvich and Ulatov (2005).…”

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Financial Globalization and the Russian Crisis of 1998

Pinto

Ulatov

2013

The Evidence and Impact of Financial Globalization

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“…This section is derived and based upon the following works: Gaidar (1999), Gould-Davies and Woods (1999),Pinto et al (2004), andStiglitz (2003).…”

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confidence: 99%

International Real Estate Review

Edelstein¹,

Edelstein²

2020

IRER

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The fundamental message of this paper is simple and fourfold. The world has endured many economic - financial frenzies, panics, and crises that, at first glance, appear to be remarkable and special, but upon closer examination, mirror each other in several ways. Typically, these historical economic crises are resultant of excessive debt, contain a trigger event that creates a "crisis in confidence", suffer a boom bust cycle with significantly enhanced financial and economic volatilities, and generate a boom bust cycle that leads to major contagion effects across the financial and real sectors and spreads internationally. Our analysis as a case study examines and demonstrates that the Great Financial Crisis of 2007-2008 exhibits extraordinary causal features and similarities with the Long Depression of 1873.

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Lessons from the Russian Crisis of 1998 and Recovery

Cited by 11 publications

References 20 publications

Coordinating Public Debt Management With Fiscal And Monetary Policies : An Analytical Framework

Coordinating Public Debt Management With Fiscal And Monetary Policies : An Analytical Framework

Financial Globalization and the Russian Crisis of 1998

International Real Estate Review

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