The Shadow Economy as a Specific Feature of Russian Capitalism
AbstractAlthough the process of the formation of a capitalist society in Russia is just at the very beginning, some of the features of Russian capitalism have already been determined. It may be said that "shadow capitalism" is arising in the country. One of its most important characteristic features is the institutionalization of the shadow economy, its transformation into a stable element of the economic system, and its close interweaving with legal business activity, as well as its enormous scale. The explosive growth in the shadow economy has proved to be a completely unexpected consequence of Russia's transition to a capitalist system. There was a widespread opinion during the Gorbachev era of restructuring that the shadow economy was the fruit of specific features and defects characteristic of the Soviet system that could be eliminated through liberalization and the introduction of private ownership within the context of "the transition to the market." It was thus felt that to the extent the country moved in the direction of capitalism, the scale of the shadow economy would diminish and the legal economy would grow.
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Bibliographic InfoArticle provided by M.E. Sharpe, Inc. in its journal Problems of Economic Transition.
Volume (Year): 41 (1999)
Issue (Month): 12 (April)
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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=106047
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