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Russia’s Current Economic System: From Delusion to Glasnost

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  • Michael Ellman

    (Economics & Business, University of Amsterdam)

Abstract

Many observers have seen Russia as a transition economy gradually moving to an economic system of the Western type. This paper disagrees with that and argues that Russia’s economic system is a natural-resource-based capitalist one with Russian characteristics. The most important specifically Russian characteristics are its location, its unaccountable government, its dependent judiciary, the insecurity of private property, the importance of state planning, and the role of military factors. Taking these issues into account, some thoughts are offered on likely future developments.

Suggested Citation

  • Michael Ellman, 2015. "Russia’s Current Economic System: From Delusion to Glasnost," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 57(4), pages 693-710, December.
    • Handle: RePEc:pal:compes:v:57:y:2015:i:4:d:10.1057_ces.2015.9
    DOI: 10.1057/ces.2015.9
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    References listed on IDEAS

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    1. Hedlund,Stefan, 2011. "Invisible Hands, Russian Experience, and Social Science," Cambridge Books, Cambridge University Press, number 9780521768108.
    2. Andrei Yakovlev, 2006. "The evolution of business – state interaction in Russia: From state capture to business capture?," Europe-Asia Studies, Taylor & Francis Journals, vol. 58(7), pages 1033-1056.
    3. Graham, Loren, 2013. "Lonely Ideas: Can Russia Compete?," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262019795, December.
    4. Stefan Hedlund, 2006. "Vladimir the great, Grand Prince of Muscovy: Resurrecting the Russian service state," Europe-Asia Studies, Taylor & Francis Journals, vol. 58(5), pages 775-801.
    5. Ekaterina Brancato, 2009. "Markets Versus Hierarchies," Books, Edward Elgar Publishing, number 13079.
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