Incentives and Institutions

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Author :
Publisher : Princeton University Press
ISBN 13 : 0691225362
Total Pages : 295 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Incentives and Institutions by : Serguey Braguinsky

Download or read book Incentives and Institutions written by Serguey Braguinsky and published by Princeton University Press. This book was released on 2021-02-09 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here, for the first time, two of Russia's leading economists provide an authoritative analysis of the transition to a democratic market economy that has taken place in Russia since 1990. Serguey Braguinsky, a Russian economist with extensive international experience, and Grigory Yavlinsky, leader of the liberal "Yabloko" party and a major public figure in Russia, focus on the institutions that are critical to a successful transition and the economic incentives needed to make these institutions work. Finally, they discuss in detail the specific components of the economic processes that are necessary for economic transition in general and they draw lessons that can be applied to other nations dealing with similar transitions. In 1989, Grigory Yavlinsky became a member of the Commission for Economic Reform and wrote the groundbreaking "500 Day Plan," which outlined the first program of transition to a market economy. Two years later, he co-wrote the program of strategic cooperation between the Soviet government and the West (known as the "Grand Bargain"). Here he and Serguey Braguinsky examine what went wrong with the Russian plan--and what is needed to put the economy back on the road to becoming a fully functioning market economy. The first section of the book presents a new interpretation of the political economy of the socialist state and the incentives and institutions that underpin it, with an emphasis on the present Russian situation. The second part deals with the political economy of "spontaneous transition" and the inefficiencies inherent in economies that lack the organizations and institutions that inhere in established Western democratic economies. In the final section, the authors present a program of actions to put the economic transition in Russia back on track, based on their assessment of the actual current state of both the economy and the government. Their approach is unique in emphasizing organizational evolution at the microeconomic level instead of stressing macroeconomic issues such as money and inflation that are at the heart of most arguments. This is a thoughtful and thought-provoking book and one that will be widely discussed and debated.

Russia's Crony Capitalism

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Author :
Publisher : Yale University Press
ISBN 13 : 030024486X
Total Pages : 336 pages
Book Rating : 4.3/5 (2 download)

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Book Synopsis Russia's Crony Capitalism by : Anders Aslund

Download or read book Russia's Crony Capitalism written by Anders Aslund and published by Yale University Press. This book was released on 2019-05-23 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: A penetrating look into the extreme plutocracy Vladimir Putin has created and its implications for Russia’s future This insightful study explores how the economic system Vladimir Putin has developed in Russia works to consolidate control over the country. By appointing his close associates as heads of state enterprises and by giving control of the FSB and the judiciary to his friends from the KGB, he has enriched his business friends from Saint Petersburg with preferential government deals. Thus, Putin has created a super wealthy and loyal plutocracy that owes its existence to authoritarianism. Much of this wealth has been hidden in offshore havens in the United States and the United Kingdom, where companies with anonymous owners and black money transfers are allowed to thrive. Though beneficial to a select few, this system has left Russia’s economy in untenable stagnation, which Putin has tried to mask through military might.

Russia's Market Economy

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Author :
Publisher : Routledge
ISBN 13 : 1135433739
Total Pages : 459 pages
Book Rating : 4.1/5 (354 download)

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Book Synopsis Russia's Market Economy by : Stefan Hedlund

Download or read book Russia's Market Economy written by Stefan Hedlund and published by Routledge. This book was released on 2002-11-01 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia's Market Economy is a seminal account of Russia's transition to the market, its tortuous development as a fledgling market economy through the 1990s, right through to its spectacular collapse in August 1998. Rather than beginning with the economic collapse, the book traces the historical mismanagement of Russian wealth through to the Soviet command economy, and on to Gorbachev. Stefan Hedlund finally discusses what lessons should be learned from the damage inflicted on the Russian economy, as well as its social, legal and political infrastructure, by the race of reform.

Russia's Economy

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Author :
Publisher : Rand Corporation
ISBN 13 : 0833039768
Total Pages : 73 pages
Book Rating : 4.8/5 (33 download)

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Book Synopsis Russia's Economy by : Charles Wolf (Jr.)

Download or read book Russia's Economy written by Charles Wolf (Jr.) and published by Rand Corporation. This book was released on 2006 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sixteen years after the Soviet Union's demise, the Russian economy can still be appropriately characterized as transitional. The authors shed light on ambiguities surrounding this status through an exploration of four questions related to issues of interest to government decisionmakers.

Toward a Russian market economy

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Author :
Publisher : GRIN Verlag
ISBN 13 : 3638897362
Total Pages : 25 pages
Book Rating : 4.6/5 (388 download)

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Book Synopsis Toward a Russian market economy by : Simon M. Ingold

Download or read book Toward a Russian market economy written by Simon M. Ingold and published by GRIN Verlag. This book was released on 2008-01-21 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2006 in the subject Politics - Region: Russia, grade: Honors (Bestnote), Yale University, course: Dynamics of Russian Politics, language: English, abstract: The story of the post-Soviet economic transformation of Russia told by radical reform advocates is compelling in the sense that it is cogent within the limited confines of economic logic. However, it is not exhaustive. Rather, it should be regarded as a snapshot view from a very specific – and in particular: an ahistorical – perspective. We will contrast this perspective with an alternative interpretation of reform that takes into account exogenous factors, namely culture and history. As Hedlund suggests, “there are good reasons why economics in particular would be insensitive to the highly specific conditions that marked Russia’s attempted economic transition.” We will begin our remarks with a short overview of the transformation process according to the positivist view of the economist and radical reform advocate Anders Ås-lund. The purpose of the discussion is not to merely recapitulate the chronology of transformation but rather to point out the underlying assumptions on which economic policy rested. These are crucial for understanding why reform deviated from the path forecasted by the proponents of radical reform. In a second step, we will attempt a critical appraisal of theses assumptions and look at some of the adverse implications that followed from them. Third, a different interpretation of the transformation process will be introduced that puts path dependence at the center of analysis, putting the approach taken by radical reformers in a different light. Finally, as a concluding remark, we will briefly go into the practical consequences as implied by the two different approaches regarding the strength and stability of the Russian Federation, the prospects for liberal democracy, and the prospects for an effective market economy.

Bear Traps on Russia's Road to Modernization

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Author :
Publisher : Routledge
ISBN 13 : 1134106890
Total Pages : 142 pages
Book Rating : 4.1/5 (341 download)

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Book Synopsis Bear Traps on Russia's Road to Modernization by : Clifford G. Gaddy

Download or read book Bear Traps on Russia's Road to Modernization written by Clifford G. Gaddy and published by Routledge. This book was released on 2013-08-21 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bear Traps examines Russia’s longer term economic growth prospects. It argues that Russia’s growth challenges are conventionally misdiagnosed and examines the reasons why: a spatial misallocation that imposes excess costs on production and investment; distortions to human capital; an excessively high relative price of investment that serves as a tax on physical capital accumulation; and an economic mechanism that inhibits adjustments that would correct the misallocation. Bear Traps explains why Soviet legacies still constrain economic growth and outlines a feasible policy path that could remove these obstacles. The most popular proposals for Russian economic reform today — diversification, innovation, modernization — are misguided. They are based on a faulty diagnosis of the country’s ills, because they ignore a simple reality: Russia’s capital, both physical and human, is systematically overvalued, owing to a failure to account for the handicap imposed by geography and location. Part of the handicap is an unavoidable consequence of Russia’s size and cold climate. But another part is self-inflicted. Soviet policies placed far too much economic activity in cold, remote locations. Specific institutions in today’s Russia, notably its federalist structure, help preserve the Soviet spatial legacy. As a result, capital remains handicapped. Investments made to compensate for the handicaps of cold and distance should properly be treated as costs. Instead, they are considered net additions to capital. When returns to what appear to be large quantities of physical and human capital fail to satisfy expectations, the blame naturally goes to poor institutions, corruption, backward technology, and so on. Policy proceeds along the wrong path, with costly programs that can end up doing more damage than good. The authors insist that the goal should be to seek to remove the handicaps rather than to spend to compensate for them. They discuss how Russia could develop a modernization program that would let the nation finally focus on its economic advantages, not its handicaps.

The Russian Economy: a Very Short Introduction

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Author :
Publisher : Oxford University Press, USA
ISBN 13 : 0198848900
Total Pages : 153 pages
Book Rating : 4.1/5 (988 download)

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Book Synopsis The Russian Economy: a Very Short Introduction by : Richard Connolly

Download or read book The Russian Economy: a Very Short Introduction written by Richard Connolly and published by Oxford University Press, USA. This book was released on 2020-07-23 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia today is as prominent in international affairs as it was at the height of the Cold War. Yet the role that the economy plays in supporting Russia's position as a 'great power' on the international stage is poorly understood. For many, Russia's political influence far exceeds its weight in the global economy. However, Russia is one of the largest economies in the world; it is not only one of the world's most important exporters of oil and gas, but also of other natural resources, such as diamonds and gold. Its status as one of the largest wheat and grain exporters shapes commodity prices across the globe, while Russia's enormous arms industry, second only to the United States, provides it with the means to pursue an increasingly assertive foreign policy. All this means that Russia's economy is crucial in serving the country's political objectives, both within Russia and across the world. Russia today has a distinctly political type of economy that is neither the planned economy of the Soviet era, nor a market-based economy of the Euro-Atlantic variety. Instead, its economic system is characterised by a unique blend of state and market; control and freedom; and natural resources alongside human ingenuity. The Russian Economy: A Very Short Introduction introduces readers to the dimensions of the Russian economy that are often ignored by the media and public figures, or exaggerated and misunderstood. In doing so, it shows how Russia's economy is one of global significance, and helps explain why many of Russia's enduring features, such as the heavy hand of the state and the emphasis on military-industrial production, have persisted despite the immense changes that took place after the disintegration of the Soviet Union in 1991. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

Russia

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Author :
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (971 download)

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Book Synopsis Russia by : Sergeĭ Mikhaĭlovich Rogov

Download or read book Russia written by Sergeĭ Mikhaĭlovich Rogov and published by . This book was released on 1996 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

How Russia Became a Market Economy

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Author :
Publisher : Transaction Publishers
ISBN 13 : 9780815704256
Total Pages : 402 pages
Book Rating : 4.7/5 (42 download)

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Book Synopsis How Russia Became a Market Economy by : Anders Åslund

Download or read book How Russia Became a Market Economy written by Anders Åslund and published by Transaction Publishers. This book was released on 1995 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides the most detailed and insightful assessment to date of the Russian transformation from a socialist economy to a market economy. As a longtime specialist on the Soviet economy and an economic adviser to the Russian government during most of this period, Aslund analyzes the original intentions of the government, what they were to accomplish, and why they fell short. According to Aslund, the Russian transformation has not been too quick, as many maintain, but rather too slow.

Toward a Russian Market Economy

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Author :
Publisher : GRIN Verlag
ISBN 13 : 3640463110
Total Pages : 53 pages
Book Rating : 4.6/5 (44 download)

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Book Synopsis Toward a Russian Market Economy by : Simon M. Ingold

Download or read book Toward a Russian Market Economy written by Simon M. Ingold and published by GRIN Verlag. This book was released on 2009-11 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2006 in the subject Politics - International Politics - Region: Russia, grade: Honors (Bestnote), Yale University, course: Dynamics of Russian Politics, 13 entries in the bibliography, language: English, abstract: The story of the post-Soviet economic transformation of Russia told by radical reform advocates is compelling in the sense that it is cogent within the limited confines of economic logic. However, it is not exhaustive. Rather, it should be regarded as a snapshot view from a very specific - and in particular: an ahistorical - perspective. We will contrast this perspective with an alternative interpretation of reform that takes into account exogenous factors, namely culture and history. As Hedlund suggests, "there are good reasons why economics in particular would be insensitive to the highly specific conditions that marked Russia's attempted economic transition." We will begin our remarks with a short overview of the transformation process according to the positivist view of the economist and radical reform advocate Anders s-lund. The purpose of the discussion is not to merely recapitulate the chronology of transformation but rather to point out the underlying assumptions on which economic policy rested. These are crucial for understanding why reform deviated from the path forecasted by the proponents of radical reform. In a second step, we will attempt a critical appraisal of theses assumptions and look at some of the adverse implications that followed from them. Third, a different interpretation of the transformation process will be introduced that puts path dependence at the center of analysis, putting the approach taken by radical reformers in a different light. Finally, as a concluding remark, we will briefly go into the practical consequences as implied by the two different approaches regarding the strength and stability of the Russian Federation, the prospects for liberal democracy, and the prospects for an effective mar

The Russian Market Economy

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Author :
Publisher :
ISBN 13 :
Total Pages : 272 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Russian Market Economy by : Pekka Sutela

Download or read book The Russian Market Economy written by Pekka Sutela and published by . This book was released on 2004 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Road to the Russian Market Economy

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Author :
Publisher : Aleksanteri Institute
ISBN 13 :
Total Pages : 322 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Road to the Russian Market Economy by : Pekka Sutela

Download or read book The Road to the Russian Market Economy written by Pekka Sutela and published by Aleksanteri Institute. This book was released on 1998 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:

New Rich, New Poor, New Russia

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Author :
Publisher : Routledge
ISBN 13 : 1315500809
Total Pages : 216 pages
Book Rating : 4.3/5 (155 download)

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Book Synopsis New Rich, New Poor, New Russia by : Bertram Silverman

Download or read book New Rich, New Poor, New Russia written by Bertram Silverman and published by Routledge. This book was released on 2016-07-08 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now expanded to cover the consequences of Russia's 1998 financial collapse, this book focuses on the social consequences of a modern-day great depression. The text examines the unequal distribution of the costs and benefits of Russia's leap into capitalism. The topics covered include: the emergence of the "new poor"; the recruitment of a business elite; the changing social and economic status of women; and the impact of marketization on employment. The study draws on a range of statistics and survey research data to present a portrait of the lives and circumstances of comtemporary Russians.

Russia's Economy: Signs of Progress and Retreat on the Transitional Road

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Author :
Publisher :
ISBN 13 :
Total Pages : 75 pages
Book Rating : 4.:/5 (227 download)

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Book Synopsis Russia's Economy: Signs of Progress and Retreat on the Transitional Road by :

Download or read book Russia's Economy: Signs of Progress and Retreat on the Transitional Road written by and published by . This book was released on 2006 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: Of the numerous economies considered to be "transitional," Russia--with a gross domestic product (GDP) about one-fifth that of China, but a per capita product twice that of China--has the second largest. Exactly where the Russian economy lies in the market-oriented gamut of transitioning economies, however, is not yet clear: between, say, Cuba, Belarus, Uzbekistan, and Vietnam at one end, and some of the Balkan and central European states and China at the other end? Also unclear, and probably more important, is the pace of the Russian economy's transition and whether it is headed forward, toward market-oriented, decentralized resource allocation; backward, toward centralized, state-controlled allocation; or is, instead, oscillating between these two. These issues are controversial and vigorously debated within Russia. Our study focused on four questions whose answers shed light on some of the ambiguities surrounding Russia's status as a transitional economy: 1. How much of Russia's relatively strong, yet varying, economic growth is attributable to oil and natural gas prices, production, and exports? 2. To what extent have other institutional and structural changes such as the growth of private enterprise and marketization affected Russia's economic growth and its prospects? 3. What have been the scope and composition of Russia's economic transactions with several of its trading partners, specifically the Central Asian states (Kazakhstan, Uzbekistan, Turkmenistan, Tajikistan, and Kyrgyzstan), the "proliferation-risk" countries (Iran and North Korea), and China? 4. How has the economy's transition affected Russia's defense spending, defense industry, and arms export?

How Russia Became a Market Economy

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Author :
Publisher : Brookings Institution Press
ISBN 13 : 0815716192
Total Pages : 399 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis How Russia Became a Market Economy by : Anders Aslund

Download or read book How Russia Became a Market Economy written by Anders Aslund and published by Brookings Institution Press. This book was released on 2011-10-01 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: The breakup of the Soviet Union and the attempted transformation of Russia into a democracy and a market economy constitute one of the most significant events of our time. A transformation could hardly be greater, yet judgments vary from failure to substantial achievement. This book clarifies that Russia has actually become a market economy. Anders Aslund provides the most detailed and insightful assessment to date of the Russian transformation from a socialist economy to a market economy. His account covers the period from the formation of the Russian reform government in November 1991 through the autumn of 1994. He discusses the preconditions of economic reform, the formation of a reform program, relations with other former Soviet republics, liberalization, macroeconomic stabilization, and privatization. The final chapter evaluates the transformation. As a longtime specialist on the Soviet economy and an economic adviser to the Russian government during most of this period, Aslund analyzes the original intentions of the government, what they were able to accomplish, and why they fell short. The book's general conclusion is that the greater the speed, consistency, and determination, the more impressive the results. The main threat to the reform process was the resistance from the state enterprise managers, who wanted to enrich themselves at the expense of the state. The reformers could only win if they acted swiftly and firmly. According to Aslund, the Russian transformation has not been too quick, as many maintain, but rather too slow.

Creating the Post-Soviet Russian Market Economy

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Author :
Publisher : Taylor & Francis
ISBN 13 : 1000918297
Total Pages : 194 pages
Book Rating : 4.0/5 (9 download)

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Book Synopsis Creating the Post-Soviet Russian Market Economy by : Daniel Satinsky

Download or read book Creating the Post-Soviet Russian Market Economy written by Daniel Satinsky and published by Taylor & Francis. This book was released on 2023-07-26 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book captures the essence of the period when Russians and Americans collaborated in creating new structures of government and new businesses in completely uncharted conditions. It presents the experiences of key American participants in late Soviet and post-Soviet Russia during a time when Americans thought anything was possible in Russia. Using an analytic framework of foreground ideas (Western, liberal, and neo-liberal) and background forces (Russian cultural influences, nationalism, and lingering Soviet ideology), it examines the ideas and intentions of the people involved. First-person interviews with consultants, businesspeople, and citizen diplomats help capture the essence of this turbulent reform period through the eyes of those who experienced it and present the importance of this experience as a piece of the puzzle in understanding contemporary Russia. It will be an invaluable resource for students of international relations, Russian Studies majors, researchers, and members of the general public who are trying to understand the evolution of the current antagonism between the United States and Russia.

At a Crossroads

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Author :
Publisher : McGill-Queen's Press - MQUP
ISBN 13 : 1928096786
Total Pages : 203 pages
Book Rating : 4.9/5 (28 download)

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Book Synopsis At a Crossroads by : Sergey Kulik

Download or read book At a Crossroads written by Sergey Kulik and published by McGill-Queen's Press - MQUP. This book was released on 2019-02-28 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization proceeds apace, taking on new forms that impact global economic, financial and social processes. Interdependence is not simply strengthening the range of possibilities for national economies to participate in, and advantage of, these developments, but expanding the opportunities that are available to them. The question is how do states take advantage of these global developments. Russia is no exception. Although it actively participates in the globalization process, it is, however, confronting greater economic, technological, structural and institutional problems than other countries. At the same time, there is dwindling hope for favourable conditions to continue in global energy markets, which are crucial to the Russian economy. These problems exist alongside the risk that the widening gap between Russia and other economies in terms of economic performance and technological development and growth will continue. Russia now stands at the crossroads of either overcoming or exacerbating these current challenges. This choice dictates the current realities of pax economica. Moscow must, in the very near future, make meaningful, if not fundamental, decisions aimed at further opening its economy, improving its institutions, and strengthening its international ties. This task is made more difficult by Russia's weakening competitiveness and by its ambiguous position on the international division of labour. The old model of Russian development has been exhausted and a new one must be chosen. Russia's choice at this juncture will determine the future of its economic development for many years to come.