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The economic collapse of Russia

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Author Info

  • Gerando Bracho C.

    ()
    (Mexican Foreign Service, Paris, Mexican Embassy, London)

  • Julio Lopez G.

    ()
    (Universidad Nacional Autonoma de Mexico, Faculty of Economics, Mexico (Mexico))

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    Abstract

    The objective of the paper is to contribute to an explanation of Russia's economic decline during its transition to capitalism. The authors argue that, to an important degree, the dismal performance of the Russian economy stems from the overall vision underpinning the transition to capitalism, and to the specific economic policies emanating from that vision. The paper gives first an account of the basic facts regarding Russia's economic depression in the 1990s, followed by the authors' understanding of some of the main economic policies applied, stressing important peculiarities generally overlooked in most studies. The third section analyzes the impact of some of the main economic policies of the Russian transition and ponders whether better alternatives existed. The fourth section briefly assesses the return of economic growth from 1999 onwards. The last section presents conclusions.

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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9836/9721
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    Bibliographic Info

    Article provided by Banca Nazionale del Lavoro in its journal Banca Nazionale del Lavoro Quarterly Review.

    Volume (Year): 58 (2005)
    Issue (Month): 232 ()
    Pages: 53-89

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    Handle: RePEc:psl:bnlqrr:2005:13

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    Related research

    Keywords: capitalism; economic growth; economic policies; Russia's economic;

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    1. Aslund,Anders, 2002. "Building Capitalism," Cambridge Books, Cambridge University Press, number 9780521801393, November.
    2. Schydlowsky, Daniel M., 1984. "A policymaker's guide to comparative advantage," World Development, Elsevier, vol. 12(4), pages 439-449, April.
    3. P. Krugman & L. Taylor, 1976. "Contractionary Effects of Devaluations," Working papers 191, Massachusetts Institute of Technology (MIT), Department of Economics.
    4. Yegor Gaidar & Karl Otto Pöhl, 1995. "Russian Reform / International Money," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262071657, January.
    5. Jeffrey M. Davis & A. Cheasty, 1996. "Fiscal Transition in Countries of the Former Soviet Union - An Interim Assessment," IMF Working Papers 96/61, International Monetary Fund.
    6. Peter Oppenheimer & Brigitte Granville, 2001. "Russia’s Post-Communist Economy," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 2(1), pages 149-168, January.
    7. Sergei V. Alexashenko & Augusto López-Claros, 1998. "Fiscal Policy: Issues During the Transition in Russia," IMF Occasional Papers 155, International Monetary Fund.
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