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Russian economy, the

Author

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  • Michael Alexeev
  • Shlomo Weber

Abstract

Although the Russian economy performed poorly in the first seven years following the collapse of the USSR, the reforms of the 1990s laid the foundation for strong growth in 1998–2008. The early 2000s also saw successful reforms, such as the flat income tax and streamlined regulations. Serious challenges remain, however, including high dependence on natural resources, pervasive corruption, and rapid aging of the population and its distorted geographical distribution. The ability to rid itself of the remaining Soviet legacies in the economic structure, institutions and people's mindset will determine whether Russia can break its historical pattern of growth spurts followed by stagnation.

Suggested Citation

  • Michael Alexeev & Shlomo Weber, 2013. "Russian economy, the," The New Palgrave Dictionary of Economics,, Palgrave Macmillan.
    • Handle: RePEc:pal:dofeco:v:7:year:2013:doi:3897
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    More about this item

    Keywords

    economic transition; government control; Russian economy; Soviet legacy;
    All these keywords.

    JEL classification:

    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General
    • P30 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - General
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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