Abstract
Anders Aslund of Peterson Institute for International Economics reviews “No Precedent, No Plan: Inside Russia's 1998 Default” by Martin Gilman. The EconLit abstract of the reviewed work begins, “Considers whether the Russian government default on its domestic financial obligations in August 1998, and the subsequent economic collapse, were inevitable and examines the legacy of that crisis on subsequent Russian economic policy. Discusses Russia and the International Monetary Fund (IMF); growing IMF involvement; whether Russia seems to be turning a corner; hope disappointed; how a possible crisis becomes probable; how a probable crisis then becomes unavoidable; the surprising postcrisis recovery; the friendly divorce; the legacy of the crisis; and whether history is doomed to repeat itself. Gilman is Professor of Economics at Russia's Higher School of Economics. Index.”
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