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The Political Economy of Russian Energy Policy: Evolution and Performance After Market Transition

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  • Dai Yamawaki

    (Institute of Economic Research, Kyoto University)

Abstract

The present study examines the transformation of Russian energy policy ad its performance after market transition. On the basis of historical policy review, it reveals that environmental conservation in energy industry has been repeatedly specified in Russian energy policy after the 1990s whilst its focus has still descended to quantitative expansion of hydrocarbons. In this context, this paper explains this situation from the perspective of coordination mechanism such as market and government. Despite a series of liberal policies during market transition, it becomes clear that Russian energy market has not been completely liberalised in terms of price and privatisation and retained control of the government, whilst the process of energy policy formation and implementation has been highly politicised, especially since the 2000s. This paper also derives some characteristics of Russia in those circumstances, such as an existence of strong state monopoly, recognition of energy as public goods, and environmental incompatibility with the existing growth model, which are raised as propositions given to Russian energy policy and challenges to be overcome for its future sustainable growth.

Suggested Citation

  • Dai Yamawaki, 2021. "The Political Economy of Russian Energy Policy: Evolution and Performance After Market Transition," KIER Working Papers 1066, Kyoto University, Institute of Economic Research.
    • Handle: RePEc:kyo:wpaper:1066
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    References listed on IDEAS

    as
    1. Philip Hanson & Elizabeth Teague, 2005. "Big Business and the State in Russia," Europe-Asia Studies, Taylor & Francis Journals, vol. 57(5), pages 657-680.
    2. Grace, John D., 2005. "Russian Oil Supply: Performance and Prospects," OUP Catalogue, Oxford University Press, number 9780197300305.
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    More about this item

    Keywords

    Russia; energy policy; market; government; transition;
    All these keywords.

    JEL classification:

    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development

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