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“Weimar on the Volga”: Causes and Consequences of Inflation in 1990s Russia Compared with 1920s Germany

Published online by Cambridge University Press:  26 July 2012

Niall Ferguson  and
Brigitte Granville
Niall Ferguson
Affiliation:
Professor of Political and Financial History, Jesus College, Oxford OX1 3DW, U.K. E-mail: nferguso@netcomuk.co.uk
Brigitte Granville
Affiliation:
Head of the International Economics Programme, The Royal Institute of International Affairs, 10 St James's Square, London SWI Y4LE, U.K. E-mail: Bgranvil@dircon.co.uk
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Abstract

This article offers a comparative analysis of the inflationary exeriences of Weimar Germany and post-Soviet Russia, applying theories about money and government budget constraints in the manner of Thomas Sargent and François Velde. The comparison looks beyond economic policy itself to the political and social consequences of the two inflationary crises. The parallel is fairly close: close enough to suggest that Russia, despite its recent quiescence, may not have seen the end of its monetary—or political—travails.

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Type
Articles
Information
The Journal of Economic History , Volume 60 , Issue 4 , December 2000 , pp. 1061 - 1087
Copyright
Copyright © The Economic History Association 2000

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