This timely book explores Russia's political development since the collapse of the USSR and how inextricably it has been bound up with economic change. Assessing the legacies of the Soviet period, leading scholars trace the evolution of Russia's political economy and how it may develop as bitter battles continue to be waged over property and state revenues, the development of private agriculture, and welfare. This book puts these domestic issues in international and comparative perspective by considering Russia's position in the global economy and its growing role as a major energy producer. Focusing especially on the nature and future of Russian capitalism, the contributors weigh the political problems that confront Russia in its ongoing struggle to modernize and develop its economy.

An analysis of the challenges facing Russia's economy ten years after the transition, based on recent research and data. Can Russia's recent burst of economic growth be sustained? Taking a comprehensive look at the economic and political regime shift from Yeltsin to Putin, this book explores the key challenges facing the Russian economy: to narrow the productivity gap between Russian and Western firms and industries; to attract more domestic and foreign investment; and, underlying these goals, to implement the judicial, administrative, social, and banking reforms necessary to future growth. Written by a team of researchers from the Center for Economic and Financial Research—a Moscow-based independent think tank—the book draws on a wealth of new research and data. The authors emphasize the need to strengthen the protection of property rights, restructure the banking sector, and reduce government officials' powers to intervene arbitrarily in private businesses. They also stress the importance of enhancing human capital—through educational reform and by reducing barriers to citizens' geographical and sectoral mobility. Considering political institutions, the authors examine the promise and risks of the centralization of power around President Putin. Finally, they discuss the likely impact of Russia's greater integration into the world economy, notably through its potential membership in the World Trade Organization.

This book presents a narrative of one of the more interesting utopian experiments in comparative political and economic history: the first decade of the Soviet experience with socialism (1918-1928). Though historical and textual analysis, the book’s goal is to render this experience intelligible, to get at the meaning of the Soviet experience with socialism for comparative political economy today. The book examines the texts of Lenin, Bukharin, and other revolutionaries, as well as the interpretations of contemporary historians of the revolution and the writings of more recent interpreters of Soviet political and economic history. Arguing that the first three years of the Bolshevik regime (1918-1921) constitute an attempt to carry out the Marxian ideal of comprehensive central planning, and that the disastrous results, which all commentators agree occurred, were the inevitable outcome of this Marxian ideal coming into conflict with the economic reality of the coordination problem that all economic systems face, the book draws clear conclusions and elucidates the air of mystery that often surrounds the subject. Offering a radical challenge to contemporary comparative political economy at the level of high theory, applied research, and public policy, this book is appropriate for students and scholars interested in Marxism, economic history, political economy, and Austrian economics.

By 1999, Russia's economy was growing at almost 7% per year, and by 2008 reached 11th place in the world GDP rankings. Russia is now the world's second largest producer and exporter of oil, the largest producer and exporter of natural gas, and as a result has the third largest stock of foreign exchange reserves in the world, behind only China and Japan. But while this impressive economic growth has raised the average standard of living and put a number of wealthy Russians on the Forbes billionaires list, it has failed to solve the country's deep economic and social problems inherited from the Soviet times. Russia continues to suffer from a distorted economic structure, with its low labor productivity, heavy reliance on natural resource extraction, low life expectancy, high income inequality, and weak institutions. While a voluminous amount of literature has studied various individual aspects of the Russian economy, in the West there has been no comprehensive and systematic analysis of the socialist legacies, the current state, and future prospects of the Russian economy gathered in one book. The Oxford Handbook of the Russian Economy fills this gap by offering a broad range of topics written by the best Western and Russian scholars of the Russian economy. While the book's focus is the current state of the Russian economy, the first part of the book also addresses the legacy of the Soviet command economy and offers an analysis of institutional aspects of Russia's economic development over the last decade. The second part covers the most important sectors of the economy. The third part examines the economic challenges created by the gigantic magnitude of regional, geographic, ethnic, religious and linguistic diversity of Russia. The fourth part covers various social issues, including health, education, and demographic challenges. It will also examine broad policy challenges, including the tax system, rule of law, as well as corruption and the underground economy. Michael Alexeev and Shlomo Weber provide for the first time in one volume a complete, well-rounded, and essential look at the complex, emerging Russian economy.

One of the dominant export-oriented industries in Russia, oil is a major source of tax revenue and wealth. The privatization of these vast assets has made the industry a site not only for conflict between power holders but also a strategic target for international corporations and Western governments. In this thoughtful analysis, a group of international specialists explores the political and economic issues and controversies surrounding the oil industry's move to capitalism. The authors examine the spread of crime and corruption, the role of Russian and Western financial institutions, regional tensions, and the international dimension. As a paradigm for the Russian economy as a whole, the case of oil industry provides invaluable insights for understanding the political and economic problems confronting Russia today.

The first in-depth scholarly analysis of the effects of Western sanctions, and Russia's response on the Russian economy.

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.