What are the consequences of shock therapy?

What degree does Putin have?

Saint Petersburg Mining University1997

Is Boris Yeltsin dead?

Deceased (1931–2007)

What is the shock therapy?

Shock therapy is an economic theory that says that sudden, dramatic changes in national economic policy can turn a state-controlled economy into a free-market economy.

What are the consequences of shock therapy?

The shock therapy ruined the economies of Russia and east European countries. The value of the Russian currency, ruble declined considerably. People lost all their savings because of high rate of inflation. The collective farms disintegrated leaving people without any food security. Russia began to import food.

What is shock therapy explain any four consequences of shock therapy?

(i) It brought ruin to the economies and disaster upon the people of the entire region. (ii) In Russia, the large state-controlled industrial complex almost collapsed. (iii) The value of the ruble- the Russian currency declined. (iv) People lost all their savings due to high rate of inflation.

What are the consequences of shock therapy class 12?

The consequences of the Shock therapy were:

  • In Russia, the state-controlled industrial sector lost 90% of its industries.
  • Restructuring of industries took place on a large scale.
  • The value of Russian currency declined and hence the economy of Russia too declined.
  • Privatization divided the society into rich and poor.

What was the consequences of disintegration?

Disintegration of Soviet Union gave an end to Cold War confrontations and to ideological disputes between two superpowers. Military alliances had been abolished and demand arose for world peace and security.

What were the major consequences of disintegration of Soviet Union?

The major consequences of the disintegration of the Soviet Union for countries like India are as follows: It led to end of Cold War confrontations and to ideological disputes between two superpowers. Demand for peace and security were initiated abolishing military alliances.

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