IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Russia: austerity and deficit reduction in historical and comparative perspective

Listed author(s):
  • Vladimir Popov

This paper looks at Russian experience with austerity programmes since the breakdown of the former Soviet Union in 1991. Downsizing of the state was one of the major elements in a reform package designed to transform the centrally planned economy into a market one (together with deregulation, privatisation, macroeconomic stabilisation and the opening up of the closed economy). This downsizing, however, proved to be the single most important reason for the collapse of state institutions, which in turn deepened the transformational recession, contributed to the dramatic rise of income inequalities, corruption and crime, and the decline in life expectancy. The story of the successes and failures of transition is not really the story of consistent shock therapy and inconsistent gradualism. The major plot of the postsocialist transformation 'novel' is the preservation of strong institutions in some countries (very different in other respects--from Central Europe and Estonia to China, Uzbekistan and Belarus) and the collapse of these institutions in other countries. At least 90% of this story is about government failure (the strength of state institutions) and not about market failure (liberalisation). Copyright The Author 2012. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved., Oxford University Press.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by Oxford University Press in its journal Cambridge Journal of Economics.

Volume (Year): 36 (2012)
Issue (Month): 1 ()
Pages: 313-334

in new window

Handle: RePEc:oup:cambje:v:36:y:2012:i:1:p:313-334
Contact details of provider: Postal:
Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK

Fax: 01865 267 985
Web page:

Order Information: Web:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:oup:cambje:v:36:y:2012:i:1:p:313-334. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press)

or (Christopher F. Baum)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.