At first, it seemed as if the international financial crisis that broke out in 2008 would have little effect in Russia and the other post-Soviet states. But, by the end of the year, growth was slowing, banks were reluctant to lend, share values had collapsed and unemployment was rising inexorably. The stability of the Putin leadership, it appeared, had been built on the turnaround in economic performance that it had managed to achieve over more than a decade. How would it cope with a sudden reversal? In Ukraine, living standards fell even more sharply. In Belarus, there were fewer obvious signs of economic difficulty, but it could hardly be unaffected by the performance of its major trading partners.
Drawing on a wide range of evidence, an international group of scholars address the impact of the international financial crisis in the post-Soviet states and the continuing implications of the crisis for these countries themselves and for the wider world.
This book was published as a special issue of the Journal of Communist Studies and Transition Politics, now known as East European Politics.
Preface 1. Contrasting Responses to the International Economic Crisis of 2008–2010 in the 11 CIS Countries and in the 10 Post-Communist EU Member Countries 2. Micro-economic Responses to a Macro-economic Crisis: A Pan-European Perspective 3. Discourses of ‘Krizis’: Economic Crisis in Russia and Regime Legitimacy 4. The Tandem and the Crisis 5. How Did the Russian Population Respond to the Global Financial Crisis? 6. Russian Patrimonial Capitalism and the International Financial Crisis 7. Russia: Crisis, Exit and . . . Reform? 8. Democratization in Russia and the Global Financial Crisis 9. The International Economic Crisis and the 2010 Presidential Elections in Ukraine 10. Ukraine’s Foreign Policy Choices after the 2010 Presidential Election 11. The Great Slump of 2008–9 and Ukraine’s Integration with the European Union 12. Belarusian Foreign Policy in a Time of Crisis 13. The Impact of Economic Crisis: Russia, Belarus and Ukraine in Comparative Perspective 14. Russia and China: Against the Storm 15. The Global Recession and the Belarusian Economy: Revealing Cracks in the Model