Over the period of last fifteen years, Russia has become a market economy. Sharing many features with other middle-income resource-based economies, it is marked both by the Soviet bequest and its position as a European state reaching a huge geographical area. Russia's future economic potential and her position in the international community as one of the fastest growing economies of the early 21st century is of major economic and political interest.
Russia's transformation is intellectually fascinating. It has been declared both a major triumph of mainstream economic thought and a total failure of attempting transplant policies and institutions into an alien environment. The Washington Consensus - set of policies underpinning many reforms during the last two decades - is sometimes seen to have failed particularly badly in Russia.
This book provides an accessible but theoretically informed discussion of the new Russian market economy. It covers the background, policies and emerging institutions, and offers a view on Russia's future role in the European and world economy.
Over the period of last fifteen years, Russia has become a market economy. Sharing many features with other middle-income resource-based economies, it is marked both by the Soviet bequest and its position as a European state reaching a huge geographical area. Russia's future economic potential and her position in the international community as one of the fastest growing economies of the early 21st century is of major economic and political interest.
Russia's transformation is intellectually fascinating. It has been declared both a major triumph of mainstream economic thought and a total failure of attempting transplant policies and institutions into an alien environment. The Washington Consensus - set of policies underpinning many reforms during the last two decades - is sometimes seen to have failed particularly badly in Russia.
This book provides an accessible but theoretically informed discussion of the new Russian market economy. It covers the background, policies and emerging institutions, and offers a view on Russia's future role in the European and world economy.
