Selected Macroeconomic Issues of Common Concern to the Central Asian Countries and the Russian Federation

PREFACE

INTER-ENTERPRISE ARREARS IN THE CENTRAL ASIAN COUNTRIES AND THE RUSSIAN FEDERATION

Introduction

I. Evolution of inter-enterprise arrears in the Russian Federation and Central Asian countries.

A. General trends

B. Changing pattern of arrears

II. Initial causes of inter-enterprise arrears and the factors exacerbating the problem

A. Adaptation to normal market system

B. The credibility of macroeconomic policy and behaviour of enterprises

C. Inadequacy of and disturbances in the financial (payments) system

D. Deficiency of the legal and institutional structures

III. Conclusions and policy recommendations

RENEWAL AND DEVELOPMENT OF ECONOMIC COOPERATION BETWEEN THE RUSSIAN FEDERATION AND THE CENTRAL ASIAN COUNTRIES

I. Economic interdependence of the countries in the former Soviet Union

II. Causes of disintegration

III. Efforts to revitalize economic relationships

IV. Strategic interests for integration

V. Concluding observations

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