Occasional Papers

Macroeconomic Developments in the Baltics, Russia, and Other Countries of the Former Soviet Union, 1992-97

Author/Editor:

Luis Valdivieso

Publication Date:

January 6, 1999

Summary:

This paper discusses the significant overall progress with macro stabilization of these transition countries during 1992-1997. While average inflation declined steadily since 1992, output fell significantly for many of these countries during this period, and it was not unti 1996-97 that as a group they experienced positive growth, financial policies, the current account, competitiveness, debt-and non-debt-creating capital flows, and the initial impact of the Asian crisis.

Series:

Occasional Paper No. 1999/001

Subject:

Currency markets Debt burden External debt Financial markets Foreign exchange International capital markets Real exchange rates