Fixing Russia's Banks: A Proposal for Growth - Couverture souple

Bernstam, Michael S; Rabushka, Alvin

Couverture souple

ISBN 10 : 0817995722 ISBN 13 : 9780817995720

Editeur : Hoover Institution Press,U.S., 1998

Synopsis

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. Failing to fix Russia's banks risks further economic stagnation or decline and financial catastrophe. Bernstam and Rabushka's bold, intriguing, provocative proposal - resting on an elaborate strategy of debt-for-equity swaps - would fix the banks, reduce government debt, strengthen the independence of the Central Bank, and lay a solid foundation for sustained economic growth.

A propos du livre

À propos de l'auteur

Michael S. Bernstam, a research fellow at the Hoover Institution, Stanford University, is an economic demographer who studies economic systems in their relationship with income, population, financial development, natural resources, the environment, conflict, and other social change. Alvin Rabushka, the David and Joan Traitel Senior Fellow at the Hoover Institution, works in the public policy areas of taxation in the United States and abroad, economic development in the Pacific Rim countries, and the transition economies of Central and Eastern Europe, notably Russia.

Détails de l'édition

• Éditeur: Hoover Institution Press,U.S.
• Date d'édition: 1998
• Langue: anglais
• ISBN 10: 0817995722
• ISBN 13: 9780817995720
• Reliure: Broché
• Nombre de pages: 114
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible