Macroeconomic stabilization pushed Russia’s banks to the brink, forcing many to reorient to a new reality with fewer sources of ‘easy money.’ The direction of these changes could transform the shape of Russia’s emerging market economyby JOEL HELLMAN 1995 WAS A GRIM YEAR FOR RUSSIA’S HIGHflying commercial banks, the first such period in their short but spectacular history. It began […]
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