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Russia's economy: Before the long transition

Author

Listed:
  • Akindinova, Natalia
  • Kuzminov, Yaroslav
  • Yasin, Evgeny

Abstract

This article explains the main stages and results of economic development in Russia since the early 1990s. It describes the process of the formation and the basic features of a three-sector economic model, as well as the reasons for its stability and existing constraints on economic growth. The authors consider the most likely scenario for the evolution of the current economic model under steadily declining export revenues. They also investigate fiscal and social risks and alternatives in economic policy.

Suggested Citation

  • Akindinova, Natalia & Kuzminov, Yaroslav & Yasin, Evgeny, 2016. "Russia's economy: Before the long transition," Russian Journal of Economics, Elsevier, vol. 2(3), pages 219-245.
    • Handle: RePEc:eee:rujoec:v:2:y:2016:i:3:p:219-245
    DOI: 10.1016/j.ruje.2016.08.001
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    References listed on IDEAS

    as
    1. Przemyslaw Kowalski & Max Büge & Monika Sztajerowska & Matias Egeland, 2013. "State-Owned Enterprises: Trade Effects and Policy Implications," OECD Trade Policy Papers 147, OECD Publishing.
    2. Friedrich Schneider & Andreas Buehn & Claudio Montenegro, 2010. "New Estimates for the Shadow Economies all over the World," International Economic Journal, Taylor & Francis Journals, vol. 24(4), pages 443-461.
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    Citations

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    Cited by:

    1. Cristian Incaltarau & Ilkhom Sharipov & Gabriela Carmen Pascariu & Teodor Lucian Moga, 2022. "Growth and convergence in Eastern Partnership and Central Asian countries since the dissolution of the USSR—embarking on different development paths?," Development Policy Review, Overseas Development Institute, vol. 40(1), January.
    2. Lyubimov, I. & Gvozdeva, M. & Kazakova, M. & Nesterova, K., 2017. "Economic Complexity of Russian Regions and their Potential to Diversify," Journal of the New Economic Association, New Economic Association, vol. 34(2), pages 94-122.
    3. Simola, Heli, 2021. "Long-term challenges to Russian economic policy," BOFIT Policy Briefs 11/2021, Bank of Finland Institute for Emerging Economies (BOFIT).
    4. Akindinova, N. & Nazarova, A. & Chepel', A., 2018. "Far East Priority: Macro-Sectors in the Russian Economy: Structural Aspects and Responses to the External Conditions Changes," Journal of the New Economic Association, New Economic Association, vol. 39(3), pages 128-137.
    5. N. N. Mikheeva, 2020. "Economic Dynamics of Russian Regions: Crises and Ways to Restore Growth," Regional Research of Russia, Springer, vol. 10(1), pages 1-9, January.

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    More about this item

    Keywords

    three-sector economic model; economic development scenarios; fiscal policy; social policy; middle class;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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