Russian economy in 1999. Trends and Perspectives (Issue 21)

Publication date
Sunday, 12.03.2000

Authors
S. Arkhipov L. Anisimova S. Batkibekov S. Drobyshevsky T. Drobyshevskaya O. Izryadnova P. Kadochnikov O. Kochetkova O. Lugovoi V. Mau V. Stupin I. Trunin A. Shardrin S. Shatalov A. Radygin Yu. Bobylev Т. Logacheva E. Serova I. Khramova N. Kralova T. Tikhonova N. Volovik N. Leonova S. Prikhodko E. Ilyukhina L. Mikhailov L. Sycheva E. Timofeev I. Rozdetsvenskaia S. Shishkin I. Kolosnitsyn S. Sinelnikov

Series
Russian Economy: Trends and Perspectives

Contents

Section 1. Macroeconomics 9
1.1. Russian Economy at end-1998 and the Prospects of the Economic Policy 9
1.2. Balance of Payments, Monetary Policy and Real Ruble Exchange Rate 17
1.3. Trends in the Real Sector of the Economy: Revival in Export-Generating and Import-Substituting Industries 50
1.3.1. Production Revival: Export-Oriented Industries and Import-Substitution. 50
1.3.2. Profitability of Production and Changes in the GDP Structure According to Incomes 58
1.3.3. Investments in the Real Sector of the Economy 61
1.3.4. Financial Standing of Enterprises: Reduction in Non-Payments and Non-Monetary Settlements 68
1.4. The Budget 75
1.5. Social Effects of the Stabilization Policy 95
1.6. Financial Policy in 2000 100
1.7. A Macroeconomic Scenario for Year 2000 106
1.8. Medium-Term Limitations of Economic Policy 112
1.8.1. The Economic and Political Situation at the Time of the Elections 121
Annexes to Section 1
Annex 1. Major Financial and Budgetary Indicators 135
Annex 2. Financial Markets 161
Annex 3. GDP End Use 199
Annex 4. Macroeconomic Characteristics of the Russian Banking System After August of 1998 204
Annex 5. Internal Price Structure, Real Ruble Exchange Rate, and Arrears 214
Annex 6. Interbudgetary Relations in Russia in 1999 219
Annex 7. Subfederal and Municipal Borrowing 237

Section 2. Institutional Change and Status of Selected Sectors of the Economy 261
2.1. Institutional Problems of Corporate Sector Development 261
2.1.1. Results of 1999 as a Mirror of Unstable Post-Crisis Development of the Corporate Sector 261
2.1.2. Traditional Privatization Process Dynamics 280
2.1.3. Public Property Management 291
2.2. The Oil and Gas Sector 298
2.3. Agriculture and Food Production 326
2.4. Foreign Trade 360
2.5. Foreign Investment in the Russian Economy 384
2.6. The Banking Sector 391
Appendix. The Numbers of Credit Institutions in Various Regions 429
2.7. Social Services and Culture 444
2.8. Household Sector Finances and Consumer Markets 478

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