The paper looks into convergence of Russian institutions with those of other democratic, free-market-oriented states, and considers definitions of "normalcy" that incorporate the concepts of free market, democracy, and government efficiency. The author provides an estimate of Russia’s institutional convergence to the standards of the G7 and the “Big Five” group of large, middle-income countries that includes Brazil, China, and India. In some areas Russia outperforms "Big Five" countries, in others it trails behind. Finally, public mistrust, corruption, and inefficient governance in Russia are discussed in light of the Putin administration’s current reform policies.
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Paper provided by Bank of Finland, Institute for Economies in Transition in its series BOFIT Discussion Papers with number
16/2005.
Length: 43 pages Date of creation: 30 Dec 2005 Date of revision: Handle: RePEc:hhs:bofitp:2005_016
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Find related papers by JEL classification: O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries P30 - Economic Systems - - Socialist Institutions and Their Transitions - - - General P52 - Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies
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