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| | Finance & Development, June 1999 - Escape Routes from Post-Soviet Inflation and Recession |
 | | When in 1924 the Soviet government exchanged 50 billion "old" rubles for 1 "new" ruble in a currency reform, ceased monetizing the budget deficit, and made the ruble convertible, Lenin's New Economic Policy began to enjoy monetary stability. |
 | | The Soviet Union was transformed, through forced collectivization, from being a food exporter to being unable to feed itself. |
 | | Prior to the Soviet transition to a market economy, there had been several notable conquests of severe inflation elsewhere—for example, in 1985–86 in Bolivia, a developing economy, and in Israel, a developed one. |
| www.imf.org /external/pubs/ft/fandd/1999/06/kaser.htm (2597 words) |
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