Failing to fix Russia's banks risks further economic stagnation or decline and financial catastrophe. Bernstam and Rabushka's bold, intriguing, provocative proposal—resting on an elaborate strategy of debt-for-equity swaps—would fix the banks, reduce government debt, strengthen the independence of the Central Bank, and lay a solid foundation for sustained economic growth.

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• Table of Contents (0817995722_front.pdf ~30 KB)
• Introduction (0817995722_introduction.pdf ~30 KB)
• Chapter 1: Russian Economic Conditions (0817995722_chapter1.pdf ~74 KB)
• Chapter 2: The Nonmonetary System and the Ersatz Banking System in Russia: 1991–1995 (0817995722_chapter2.pdf ~569 KB)
• Chapter 3: The Emergence of a Resource-Based Monetary System, Hamstrung by the Persistence of Ersatz Banks: 1996–1997 (0817995722_chapter3.pdf ~268 KB)
• Chapter 4: Will Russia Maintain Its Emerging Monetary System and Develop Real Banks? 1998 and Beyond (0817995722_chapter4.pdf ~84 KB)
• About the Authors (0817995722_authors.pdf ~28 KB)
• Index (0817995722_index.pdf ~35 KB)