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Working Paper
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– A Model Based on the Russian Default of 1998
We consider an overlapping generations model with two production factors and two types of agents in the presence of financial intermediation and its application to the Russian default of August 1998. The paper focuses on the analysis of the consequences of a sudden negative repayments shock on...
Working Paper
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The paper summarises the findings of field research projects on emerging Russian entrepreneurship carried out by the author over a six-year period. The main stages of small and medium enterprise (SME) formation in Russia since the late 1980s are considered. Then, the dynamics of the SME sector are...
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