ABSTRACT
Aside from the political and social turmoil, Russian managers engagers a dizzying array of economic challenges in the first decade of transition. In the first two years managers weathered price liberalization, hyperinflation, collapse of the currency, privatization, nonpayments a complete overhaul of the system of taxation, and competition from imports and newly created firms. During the stabilization phase, they confronted a high real exchange rate, low levels of liquidity, and a reversion to a barter economy. The collapse of August 1998 saw further challenges: the value of the currency plummeted, the banking system collapsed, and two prime ministers were replaced.
