The Causes and Consequences of the Russian Crisis of 1998 Essay

The causes and consequences of the Russian crisis of 1998 The period 1995 to mid-1997 was boom time for Russia’s financial markets. The value of the Russian bonds and stocks soared, with the participation of foreigners in these asset markets increasing rapidly. International investors’ optimism about the country’s future was lifted by stabilization policy that followed the advice of Western institutions. Russian crisis of 1998 were caused due to a number of factors, the investor risk aversion by foreign players, fall in oil prices put the ruble under a drastic downward trend. Russia at that point in time was heavily dependent on capital inflows which was eroded due to the external shocks e.g Asian financial crisis etc country stabilization program crumbled immediately due such triggers. The government at that time protected the exchange rate mechanism and the ruble, they took measures by reducing the supply of money which lead to drastic change in the interest rates.Turbulent change in the government where administration tried to stabilize the economy through drastic fiscal tightening and fresh foreign borrowings. These were drastically desperate measures they had taken which lead to volatility and instability in financial markets. The initial surge in bond and stock prices in 1995–97 owed to a highly ambitious monetary stabilization program, which compressed inflation much faster than other transition economies. Due to high dollarization, disinflation was based on the exchange rate. The program produced rapid real appreciation and a persistent need for capital inflows, while weak economic structures and lack of domestic political support prevented accompanying fiscal consolidation and foreign direct investment. The ga... ...tzer, and Brian Pinto. 2005. â€Å"Sargent–Wallace Meets Krugman–Flood–Garber, Or: Why Sovereign Debt Swaps Don't Avert Macroeconomic Crises.† Economic Journal 115:343–67 †¢ Gaddy, Clifford G., and Barry W. Ickes. 1998. â€Å"Russia's Virtual Economy.† Foreign Affairs 77(5):53–67 †¢ Government of the Russian Federation (2001a), Federal Government 2001 Borrowing Plan, Available http://www.akm.ru †¢ Astapovich, A., E. Gavrilenkov, L. Grigoryev, T. Maleva, A. Poletaev and S. Vasiliev (2000), ‘Overview of Economic Policy in Russia in 1999’, Bureau of Economic Analysis †¢ IMF (International Monetary Fund). 2000b. Debt- and Reserve-Related Indicators of External Vulnerability. March 23, 2000. Available at http://www.imf.org/external/np/pdr/debtres/debtres.pdf †¢ Government of The Russian Federation. 1998b. â€Å"Stabilization of the Economy and Finance Program.† June 19, 1998 The Causes and Consequences of the Russian Crisis of 1998 Essay The causes and consequences of the Russian crisis of 1998 The period 1995 to mid-1997 was boom time for Russia’s financial markets. The value of the Russian bonds and stocks soared, with the participation of foreigners in these asset markets increasing rapidly. International investors’ optimism about the country’s future was lifted by stabilization policy that followed the advice of Western institutions. Russian crisis of 1998 were caused due to a number of factors, the investor risk aversion by foreign players, fall in oil prices put the ruble under a drastic downward trend. Russia at that point in time was heavily dependent on capital inflows which was eroded due to the external shocks e.g Asian financial crisis etc country stabilization program crumbled immediately due such triggers. The government at that time protected the exchange rate mechanism and the ruble, they took measures by reducing the supply of money which lead to drastic change in the interest rates.Turbulent change in the government where administration tried to stabilize the economy through drastic fiscal tightening and fresh foreign borrowings. These were drastically desperate measures they had taken which lead to volatility and instability in financial markets. The initial surge in bond and stock prices in 1995–97 owed to a highly ambitious monetary stabilization program, which compressed inflation much faster than other transition economies. Due to high dollarization, disinflation was based on the exchange rate. The program produced rapid real appreciation and a persistent need for capital inflows, while weak economic structures and lack of domestic political support prevented accompanying fiscal consolidation and foreign direct investment. The ga... ...tzer, and Brian Pinto. 2005. â€Å"Sargent–Wallace Meets Krugman–Flood–Garber, Or: Why Sovereign Debt Swaps Don't Avert Macroeconomic Crises.† Economic Journal 115:343–67 †¢ Gaddy, Clifford G., and Barry W. Ickes. 1998. â€Å"Russia's Virtual Economy.† Foreign Affairs 77(5):53–67 †¢ Government of the Russian Federation (2001a), Federal Government 2001 Borrowing Plan, Available http://www.akm.ru †¢ Astapovich, A., E. Gavrilenkov, L. Grigoryev, T. Maleva, A. Poletaev and S. Vasiliev (2000), ‘Overview of Economic Policy in Russia in 1999’, Bureau of Economic Analysis †¢ IMF (International Monetary Fund). 2000b. Debt- and Reserve-Related Indicators of External Vulnerability. March 23, 2000. Available at http://www.imf.org/external/np/pdr/debtres/debtres.pdf †¢ Government of The Russian Federation. 1998b. â€Å"Stabilization of the Economy and Finance Program.† June 19, 1998

Analysis of Retail Market Essay

Larger businesses in retail are generally more profitable than smaller businesses with many of the largest businesses historically among the most profitable in the economy. The larger retailers in Australia would appear to have enjoyed better returns on capital than their overseas counterparts and have continued to do so since the global financial crisis. Growth in retail sales has been slow in recent years. While short term or cyclical factors have contributed to this slowdown, the growth of retail sales has experienced a long term slowdown due to changes in consumer buying habits. Consumers are choosing to spend a smaller share of their income on retail goods because over the recent past, they are saving more and they are spending greater shares of their expenditure on services such as finance, rent and education. Further, while there has been price deflation in some sub-categories of retail, overall, sales volumes have continued to grow. The level of productivity in the Australian retail industry is low compared to retail in other countries in Europe and North America. However, the growth rate of productivity in retail, over the past two decades, has been similar to the average rate for all industries in Australia. Retailers have achieved productivity growth by increasing the capital intensity of their operations, including through adopting information and communications technology. Furthermore, investments in big box retailing have also been a factor. These changes occurred earlier in the US, and since then, US retailers have continued to achieve productivity growth by improving management and operations to make more effective use of labour and capital. These opportunities appear yet to be fully realised by most Australian retailers. A snapshot of the retail industry Retailing makes a significant contribution to the economy The retail industry is one of Australia’s largest employers. Currently, there are almost 140 000 retail businesses employing about 1. 2 million people or 10. 7 per cent of the total working population. Together, retail workers earn about $32 billion in wages and salaries each year, or 6 per cent of the economy’s total. The retail industry also makes a significant contribution to economic output, contributing $55 billion or over 4 per cent of GDP each year. However, it is a relatively small contributor to investment (table 3. 1). Table 3. 1 The contribution of Australian retail trade 2009-10a Retail trade Gross value added ($m) Employment (‘000s) Wages and salaries ($m) Investment ($m) Capital stock ($m) Number of businesses (end 2008-09) a Includes motor vehicles & parts and fuel retailing. Source: ABS (Australian System of National Accounts: gross fixed capital formation and capital stock, Cat. no. 5204. 0; Labour Force, Australia, Cat. no. 6291. 0, Counts of Australian Businesses, Cat. no. 8165. 0).

You Decide Leonard Cooper Charter School Essay - 1289 Words

Running head: YOU DECIDE You Decide: Leonard Cooper Charter School Carmelita McNeill DeVry University, Charlotte Abstract This is paper on Leonard Cooper Charter School networking and print server. I will explain the problem and offer a solution to the situation. There are several in finding a resolution to resolve the issues. The first step requires interviewing the stakeholders of Leonard Cooper Charter School to hear the problems of the current system. This will help with determining what the network should be doing and how to go about getting it done. Current Issues After interviewing the Stake holders of the Leonard Cooper Charter School the following issues was noted: 1. The first issue: ‘the print server. There are†¦show more content†¦This also affects the ability to use Voice over IP. They need to choose a media that would allow them to obtain the speeds needed to meet the object of the business. 3. The third issue: Adding the computers in the class room to the network is the third issue they are facing. They need a solution is scalable and cost effective. 4. Voice over IP is not working properly and connections to the backbone are inadequate. They need a connection that viable for the backbone and equip to handle Voice over IP. Recommendations This is the best solution for the print jobs and collisions: The best remedy for collisions is to upgrade to a full duplex switched environment. Full-duplex is a data communications term that refers to the ability to send and receive data at the same time. Legacy Ethernet is half-duplex, meaning information can move in only one direction at a time. In a totally switched network, nodes only communicate with the switch and never directly with each other. Switched networks also employ either twisted pair or fiber optic cabling, both of which use separate conductors for sending and receiving data. In this type of environment, Ethernet stations can forgo the collision detection process and transmit at will, since they are the only potential devices that can access the medium. This allows end stations to transmit to the switch at the same time that the switch transmits to them, achieving a collision-free environment. (Pidgeon, 2011) The 24Show MoreRelatedYou Decide: Leonard Cooper Charter School Is a K-12 School Essay1070 Words   |  5 Pages Scenario Summary Leonard Cooper Charter School is a K-12 school with approximately 1,000 students. The school wants to develop a local area network that meets the needs of the school now and is scalable for the future. There have been numerous complaints about the speed and reliability of the network, especially since a new addition to the building was added a few years back. 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