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  • Publication
    Russia 1998 Revisited : Lessons for Financial Globalization
    (World Bank, Washington, DC, 2010-10) Pinto, Brian; Ulatov, Sergei
    In 1998, the Russian Federation experienced one of the most severe emerging market crises of the 1997-2001 periods. It occurred less than six months after the attainment of single-digit inflation, which was supposed to launch the economy onto a sustainable growth path. This note sets out why that occurred and discusses the lessons learned.