| Fixing Russia's Banks: A Proposal for Growth Contributor(s): Bernstam, Michael S. (Author), Rabushka, Alvin (Author) |
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ISBN: 0817995722 ISBN-13: 9780817995720 Publisher: Hoover Institution Press OUR PRICE: $7.63 Product Type: Paperback - Other Formats Published: July 1998 Annotation: Russia's attempt to create a thriving free market economy is failign largely because its financial system is built on ersarz banks. Bernstam and Rabushka's bold, intriguing proposal--resting on an elaborate strategy for debt-for-equity swaps--would establish real banks, reduce government debt, strengthen the independence of the Central Bank of Russia, and lay a solid foundation for sustained economic growth. |
| Additional Information |
| BISAC Categories: - Business & Economics | Banks & Banking - History | Russia & The Former Soviet Union |
| Dewey: 332.109 |
| LCCN: 98022972 |
| Physical Information: 0.38" H x 6.05" W x 9.07" (0.44 lbs) 114 pages |
| Themes: - Cultural Region - Eastern Europe - Cultural Region - Russia |
| Descriptions, Reviews, Etc. |
| Publisher Description: Fixing Russia's Banks documents how Russia's financial system is built on what Michael S. Bernstam and Alvin Rabushka call ersatz banks. These inferior imitation banks have served largely as tools of the government to redistribute public funds to favored firms. The highly vaunted achievements of privatization, removal of price controls, and foreign trade liberalization have failed to produce growth because of a lack of private financing. National income has declined nearly 40 percent since 1992, with no recovery in sight. |