Economic Developments in Contemporary Russia: 1st Edition (Hardback) book cover

Economic Developments in Contemporary Russia

1st Edition

By Ian Jeffries


576 pages

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Paperback: 9781138993259
pub: 2016-11-25
Hardback: 9780415603447
pub: 2010-12-14
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pub: 2011-03-07
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This book provides a comprehensive overview of Russia’s difficult economic transition from a command economy since the early 1990s. It covers the financial crisis of August 1998 and the global financial crisis a decade later. Key subjects covered include economic transition, privatization and liberalization; changes in land ownership and agriculture; energy; foreign direct investment; economic stabilization; and economic performance. Russia is well endowed with raw materials, especially oil and natural gas; this book argues that in some ways this has not helped Russia’s attempts to become a more diversified and high-tech economy.

Overall, the book demonstrates how much the Russian economy has changed in the period. It continues - and adds to – the overview of developments in the author’s The New Russia (2002), and is the companion volume to Political Developments in Contemporary Russia (2011) - both published by Routledge.

Table of Contents

Introduction and summary 1. Economic Transition 2. Liberalization: The 'virtual economy'; the enrichment of the minority (oligarchs); crime and corruption; the 1999 McKinsey Global Institute report; price liberalization; foreign trade (including liberalization, capital flight and the WTO). 3. Privatization in the non-agricultural sectors: The first stage of privatization (1 October-1July 1994); developments after the first stage (including the Yukos saga, the 'shares-for-loans' scheme and the furthering of state control through consolidation); natural gas and Ukraine; Belarus and Russian energy supplies. 4. Agriculture: Laws and decrees relating to private land ownership; the Nizhny Novgorod experiment; the new Land Code; the development of private farming. 5. Direct foreign investment: Volume; production-sharing agreements; developments in oil and gas; developments in policy; outward direct foreign investment. 6. Macroeconomic stabilization: Hyperinflation and how it was conquered (including foreign aid and debt and the role of the IMF); the financial crisis of August 1998; the global financial crisis. 7. Dmitri Medvedev: thoughts on the economy. 8. Economic performance.

About the Author

Ian Jeffries is Honorary Professor in the Department of Economics and Centre of Russian and East European Studies at Swansea University, UK. His recent publications include A History of Eastern Europe: Crisis and Change, 2nd edition; The Balkans: a Post-Communist History and numerous books in the series, Guides to Economic and Political Developments in Asia (all published by Routledge).

About the Series

Guides to Economic and Political Developments in Asia

The books in this series provide full details of economic and political developments in key countries which were formerly part of the communist world. The books thereby shed a great deal of light on the process of economic and political transition.

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
SOCIAL SCIENCE / Ethnic Studies / General
SOCIAL SCIENCE / Regional Studies