"This paper aims to raise very real concerns about the ability of the transition economies to survive should a serious financial set-back beset the whole region. The Russian Crisis of 1998 is but one example and the implications to arise from it have yet to be fully understood by all in the region, much in the same way as what took place throughout the South East Asian region during 1997/98. Only now are economists and analysts beginning to realise the consequences of what took place in this downfall and the impacts it is having on countries like Japan and the US. In the case of the Russian Crisis, because there is still very little published data available, it has been suggested that the magnitude of the crisis and the implications arising therefrom have yet to be fully realised in the region."

Support: Digital;Paper