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57861. Russian Financial Crisis Assessment 5: September 9, 1998

Author:
Rado Petkov and Rick Petree
Publication Date:
09-1998
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
The Communist dominated Duma sent a stern message to President Yelstin on September 7th by rejecting his nominee, Viktor Chernomyrdin, for the second time. The vote was 273 against and 138 for (with one abstention). While Chernomyrdin's showing improved substantially from the Duma's first ballot, he still fell far short of the 226 votes needed for Duma approval. Furthermore, his gains came largely from Zhirinovsky's nationalist faction, which has a crass history of trading votes to “the highest bidder.” Yelstin's opposition, on the other hand, benefited from the support of independent deputies comprising a group called “Regions of Russia”: their approval of Chernomyrdin dropped from 86% to 50% in the second round.
Topic:
Conflict Prevention, Economics, and Government
Political Geography:
Russia, Europe, and Asia

57862. Russian Financial Crisis Assessment 4: August 31, 1998

Author:
Allen Collinsworth, Robert Orttung, Rado Petkov, and Rick Petree
Publication Date:
08-1998
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
At approximately 12.30 p.m. EST today, the Duma rejected Chernomyrdin's nomination as Prime Minister by an open ballot vote of 251-94 (with 105 abstaining). 226 votes are needed to confirm him. Chernomyrdin's own Our Home Is Russia party provided most of his support (64 votes). Zhirinovsky's party, the Liberal Democrats, abstained (49 votes). Analysts underscored the weakness of support for Chernomyrdin by noting that, in the first round of voting on the nomination of Prime Minister Kiriyenko five months ago, Kiriyenko polled 143 votes in favor. This was in secret balloting, however, which to some extent invalidates the comparison.
Topic:
Conflict Prevention, Economics, and Government
Political Geography:
Russia, Europe, and Asia

57863. Russian Financial Crisis Assessment 3: August 27, 1998

Author:
Rado Petkov and Rick Petree
Publication Date:
08-1998
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
The latest private reports from Moscow indicate that the Duma is very likely to reject Viktor Chernomyrdin's candidacy for Prime minister next week. Tomorrow, Aug. 28 th , at 3:00 pm, the Duma and the Federation Council will meet to decide whether to recommend a vote on Chernomyrdin's candidacy. Whereas Chernomyrdin's chances are bleak, the fluid nature of current Russian political situation makes it impossible to firmly rule out his confirmation as prime minister, a post which he very much wants.
Topic:
Conflict Prevention, Economics, and Government
Political Geography:
Russia, Europe, and Asia

57864. Russian Financial Crisis Assessment 2: August 25, 1998

Author:
Rado Petkov and Rick Petree
Publication Date:
08-1998
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
Since our Aug. 20th report, the situation in Russia has developed dramatically. On Friday (Aug. 21st), the lower house of the Russian parliament (the Duma) overwhelmingly called for Yeltsin's resignation and changes in the government and the leadership of the central bank. The Duma also passed a non-binding resolution demanding nationalization of some banks and restriction of foreign participation in domestic capital markets. In response, the RTS index of leading Russian shares fell 5.56% to 81.76 on negligible trading volume of $4.2 million. Central bank head Dubinin announced plans to activate Russia's precious metals reserves (approximately $5 billion of $15.1 billion total foreign exchange reserves) to support the ruble. On Sunday, Aug. 23rd, in an action anticipated in our Aug. 17th report, Yeltsin dismissed Prime Minister Sergei Kiriyenko and installed in his place Viktor Chernomyrdin.
Topic:
Conflict Prevention, Economics, and Government
Political Geography:
Russia, Europe, and Asia

57865. Russian Financial Crisis Assessment 1: August 20, 1998

Author:
Rado Petkov and Rick Petree
Publication Date:
08-1998
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
Russian capital markets were already in what George Soros described as a “financial meltdown in . . . its terminal phase” on August 12th. Since then, capital markets have deteriorated significantly in reaction to measures announced by the Russian Government on Monday, Aug. 17th (summarized in Section II below). IEWS is actively evaluating the nature and extent of the crisis and trying to project its likely course.
Topic:
Conflict Prevention, Economics, and Government
Political Geography:
Russia, Europe, and Asia

57866. Modelling a Multi-Ethnic Society

Author:
Dr. Renata Dwan
Publication Date:
06-1998
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
Since 1992-93, the Institute for EastWest Studies (IEWS) has been organizing meetings of a 'Strategy Group for Strengthening Cooperation in Central and Eastern Europe'. The Strategy Group brings together representatives of the Central and Eastern European Associates of the European Union and Ukraine (and Western states and neighbouring countries where appropriate) to discuss the security challenges facing the region. The Strategy Group aims to foster the development of cooperative solutions to the problems facing Central and Eastern Europe. Participants in Strategy Group conferences and workshops come from diverse backgrounds, including governmental representatives, politicians, business people, academics and non- governmental representatives.
Topic:
Development and Regional Cooperation
Political Geography:
Europe, Ukraine, Eastern Europe, and Maryland

57867. Subregional Relations in the Southern Tier: Prospects for Development

Publication Date:
05-1998
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
Doubts were expressed as to the extent one could define the Caucasus and Central Asia as a single region, particularly for the purposes of exploring the potential for subregional cooperation to develop among its constituent states. External considerations (complex relationship between Russia and the states involved; presence of other outside actors; energy transit perspectives; influence of external conflict, i.e. Afghanistan) may point towards consideration of the Southern Tier as one region. However, internal perspectives, geographical, historical, political and cultural, suggest that treating subregionalism separately in the Caucasus and Central Asia might be a more realistic and potentially fruitful approach.
Topic:
Development, Economics, and Regional Cooperation
Political Geography:
New York, Europe, Eurasia, Eastern Europe, and Maryland

57868. Deposit Insurance Funds: An Instrument of Banking Stability and Issues of Authority, Information and Effectiveness

Author:
Eugene Spiro
Publication Date:
03-1998
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
The EastWest Institute is interested in the issue of banking supervision as one of the primary goals of our Economics Program since 1990 has been to support the establishment of a reformed, market-based banking system in Central and Eastern Europe (CEE) and the Former Soviet Union (FSU). As an integral component of our broader work in providing expert support to commercial bank managers and economic policymakers on the concrete aspects of implementing reform-oriented practices and strategies, we see the underlying stability and transparency of the banking system to be of critical importance. In Hungary as elsewhere, banks are indispensable to the smooth functioning of the economy, and the EWI has long subscribed to the view that the banking sector (e.g. in the context of privatisation) is a 'special' sector and requires special treatment.
Topic:
Development, Economics, and Regional Cooperation
Political Geography:
Eastern Europe, Soviet Union, and Maryland

57869. Subregional Cooperation and the European Union

Author:
Dr. Renata Dwan
Publication Date:
04-1998
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
Since 1992-93, the Institute for EastWest Studies (IEWS) has been organizing meetings of a 'Strategy Group for Strengthening Cooperation in Central and Eastern Europe'. The Strategy Group brings together representatives of the Central and Eastern European Associates of the European Union and Ukraine (and Western states and neighbouring countries where appropriate) to discuss the security challenges facing the region. The Strategy Group aims to foster the development of cooperative solutions to the problems facing Central and Eastern Europe. Participants in Strategy Group conferences and workshops come from diverse backgrounds, including governmental representatives, politicians, business people, academics and non- governmental representatives.
Topic:
International Organization and Regional Cooperation
Political Geography:
Europe and Ukraine

57870. Globalisation: Challenges and Opportunities

Author:
G.B. Madison
Publication Date:
01-1998
Content Type:
Working Paper
Institution:
Institute on Globalization and the Human Condition, McMaster University
Abstract:
Globalization is a multifaceted phenomenon. In this paper I seek to discern some of the challenges it poses, as well as some of the opportunities it offers. To this end, attention is focused on three major aspects of globalization: the economic, the cultural, and the political. Particular consideration is given to the political-economic lessons to be learned from the recent East Asian financial (and economic) crisis; the homogenizing and civilizing ramifications of globalization in the realm of culture; and the relation between economic globalization, the threat it poses to the traditional notion of national sovereignty, and the prospects for the development of civil society, the rule of law, and democratic governance. The paper concludes by arguing that, as a result of the emerging global economy, we are witnessing the emergence of a new form of capitalism, qualitatively different from both 19th-century laissez-faire capitalism and 20th-century “managed” capitalism.
Topic:
Economics, Globalization, and Markets
Political Geography:
East Asia and Asia