After the dissolution of the Soviet Union in 1992, the Russian Federation promptly proceeded with initial economic reform measures and privatisation programmes which were largely completed by 1994. Despite the creation of a basic corporate sector, many structural reforms remained incomplete, limiting inflows of foreign investment. Following the financial crisis in 1998, Russia has been in a period of stabilisation and is now showing
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August 1993. This publication seeks to add to the understanding of the problems which policy makers of Central and Eastern European Countries (CEECs) face in designing and implementing exchange control policies.