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Russia’s Post-Communist Economy


  • Peter Oppenheimer
  • Brigitte Granville


Ten years after the break-up of the Soviet Union, Russia’s measured output was still showing a net decline of around 40 per cent – but with no comparable decline in average living standards, both because the output drop affected mainly the defence sectors and because Russia’s participation in international trade had increased. At the same time there was greater inequality. And despite expansion of small businesses and the service sector, industrial restructuring had made only slight progress. This reflected geographical problems as well as underdevelopment of key market institutions such as property rights, hard budget constraints and the banking system, which meant that capital and labour markets barely functioned.

Suggested Citation

  • Peter Oppenheimer & Brigitte Granville, 2001. "Russia’s Post-Communist Economy," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 2(1), pages 149-168, January.
  • Handle: RePEc:wej:wldecn:51

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    Cited by:

    1. Johnes, Geraint & Tanaka, Yasuhide, 2008. "Changes in gender wage discrimination in the 1990s: A tale of three very different economies," Japan and the World Economy, Elsevier, vol. 20(1), pages 97-113, January.
    2. Bhaumik, Sumon Kumar & Estrin, Saul, 2007. "How transition paths differ: Enterprise performance in Russia and China," Journal of Development Economics, Elsevier, vol. 82(2), pages 374-392, March.
    3. Carol Scott Leonard, 2000. "Rational Resistance to Land Privatisation in Russia: Modelling the Behaviour of Rural Producers in Response to Agrarian Reforms, 1861-2000," Economics Series Working Papers 13, University of Oxford, Department of Economics.
    4. Brigitte Granville & Judith Shapiro, 2008. "Scratch a Would-Be Planner: Robbins, Neoclassical Economics and the End of Socialism," Working Papers 11, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.
    5. Sumon Bhaumik & Saul Estrin, 2003. "Why Transition Paths Differ: Russian and Chinese Enterprise Performance Compared," William Davidson Institute Working Papers Series 525, William Davidson Institute at the University of Michigan.
    6. Juurikkala, Tuuli & Lazareva, Olga, 2006. "Lobbying at the local level : social assets in Russian firms," BOFIT Discussion Papers 1/2006, Bank of Finland, Institute for Economies in Transition.
    7. Jozef Medveď & Juraj Nemec & Leoš Vítek, 2005. "Social Health Insurance and Its Failures in the Czech Republic and Slovakia: The Role of the State," Prague Economic Papers, University of Economics, Prague, vol. 2005(1), pages 64-81.
    8. Granville, Brigitte & Mallick, Sushanta, 2010. "Monetary Policy in Russia: Identifying exchange rate shocks," Economic Modelling, Elsevier, vol. 27(1), pages 432-444, January.
    9. Kim, Byung-Yeon & Pirttila, Jukka, 2004. "Money, barter, and inflation in Russia," Journal of Comparative Economics, Elsevier, vol. 32(2), pages 297-314, June.
    10. Gerando Bracho C. & Julio Lopez G., 2005. "The economic collapse of Russia," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 58(232), pages 53-89.
    11. Gerando Bracho C. & Julio Lopez G., 2005. "The economic collapse of Russia," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 58(232), pages 53-89.
    12. Granville, Brigitte & Mallick, Sushanta, 2006. "Does inflation or currency depreciation drive monetary policy in Russia?," Research in International Business and Finance, Elsevier, vol. 20(2), pages 163-179, June.

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