Monitoring economic conditions in the Russian Federation : the Russia longitudinal monitoring survey 1992-95

The present survey examines trends in economic conditions over the study"s time-frame. Key findings are as follows. (1) Annual inflation rates have been cut by two-thirds over the past year as compared with the first 3 years of the reform period. During the 1992-1994 period, prices increased at a rate of 15% per month, while last year prices increased by 7.2% per month. This corresponds to a reduction in the annualized inflation rate from 435% to 131%. (2) Between December 1994 and October 1995, there was a considerable decline in average real income and average real expenditures. (3) A significant inequality exists between lower and higher expenditure groups in total expenditures and in the distribution of expenditures. (4) Ownership of assets stabilized; there was no noticeable shift in the ownership of any major assets between 1994 and 1995. (5) Poverty levels are at an all-time high for the elderly and increased considerably between 1994 and 1995. (6) There was little change in the level and distribution of unemployment between December 1994 and October 1995. (7) Labor force participation rates were constant over the last year. (8) Only a small proportion of the unemployed and those out of the labor force received job training during the past year. (9) There was a decline in the amount of back wages owed to employees between 1994 and 1995. (Author abstract)