Russian Economic Reform.

PREFACE: An Economic Excursion INTRODUCTION: The Destination of Russian Economic Reform The Theme Implicit versus Explicit Partial Reform Pre-Reform Statistics Statistics and Reform Limits to Understanding The Path Ahead CHAPTER 1: MARKETS AND PLANS Econ 101 Soviet Econ 101 The Myth of the Plan Sufficient Reforms? More on the Path Ahead CHAPTER 2: RUSSIAN MARKET ACTIVITY Soviet-Era Market Behavior Market Behavior During Reform Spontaneous Privatization More Private Activity Costs of Doing Business Conducting Business in Transitional Russia Agriculture Conclusions The Russian Economic Paradox, Organized Crime CHAPTER 3: PRICE LIBERALIZATION AND INFLATION Transition Econ 101 Inflation, Repressed and Open One-Time Price Increases Versus Continuing Inflation Costs of Open Inflation Costs of Repressed Inflation Inflation Costs and Price Liberalization Comparing Strategies to Combat Repressed Inflation Causes of Inflation Budget Deficits and Inflation During Transition Credible Disinflation Parking and Perestroika Are Rubles Worthless? CHAPTER 4: EMPLOYMENT AND UNEMPLOYMENT Introduction The Labor Sector Under the Ancien Regime From Implicit to Explicit Unemployment Partial Reforms and Economic Distortions Enterprise Debt Lessons for Reform Distribution Again Real Wages Misleading Unemployment Statistics CHAPTER 5: PRIVATIZATION Introduction Privatization Guidelines Pre-Reform Property Rights The Reform Period Official Russian Privatization CHAPTER 6: MONOPOLY Introduction Measuring Monopoly Monopoly Rents, Pre- and Post- Reform Monopoly and Privatization Anti-Monopoly Policy CHAPTER 7: INCOME AND LIVING STANDARDS Crisis, Chaos, and Collapse Measuring Living Standards GNP and Living Standards in the Former Soviet Union Central Planning and the Measurement of GNP Russian Incomes During the Transition Moscow and St Petersburg Distribution Revisited Percpetions of Decline Barter The Socialist Vice CHAPTER 8: FALSE HOPES Military Conversion Ruble Convertibiity Western Aid Gradual Reform, Chinese Style Conclusions CONCLUSIONS BILBLIOGRAPHY ENDNOTES