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Russia's Post-Communist Economy - Brigitte Granville

Russia's Post-Communist Economy

By: Brigitte Granville (Editor), Peter Oppenheimer (Editor)

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This volume offers a multi-author survey and analysis of economic developments in the Russian Federation since the collapse of Communism and the break-up of the Soviet Union in 1989--91. It covers the period 1991--98 and in some areas extends to 1999-2000.Russia, the core of the former Soviet Union, is at once the largest transition economy of Eastern Europe and also, arguably, the one most burdened by its own past---not only of Communism, but of Tsarist absolutism and territorial aggrandizement in earlier centuries. Its present-day assets of natural-resource wealth and a well-educated labour force are offset by hypertrophied defence industries, unhelpful location of manufacturing capacity, and excessive preponderance of large enterprises.Russia has shared with other transition economies the problems of macro-economic stabilization and reconstruction of economic institutions following the disappearance of the command-administrative system which set guidelines for production under Communism. Economic progress has been held back by misappropriation of business funds and massive associated export of capital to western financial markets. Stabilization and welfare services alike have been handicapped by the difficulty of raising adequate tax revenue---or alternatively of cutting public expenditure commitments sufficiently. Arrears and offset arrangements have proliferated, providing disorderly sources of flexibility in the face of immobile resources and inadequate financial mechanisms, including total failure hitherto to establish a viable commercial banking system.In the consumer sector, income distribution has become (as in other transition economies) markedly more unequal, with regional disparities playing a significant role. State assistance to the worse off has been patchy at best. Mortality and morbidity statistics have deteriorated. But, at the same time, living standards have been supported by continuing non-payment of housing costs and subsidization of household utilities, and have benefitted from external economic liberalization, which has given households access to foreign consumption goods and to dollar bills as a key savings medium and liquidity reserve. Altogether, average living standards have changed little in Russia's first post-Communist decade, despite the massive drop in industrial production and consequential underutilization of capacity. These and other features of Russia's economy are explained by an international team of expert authors in the most comprehensive and objective overview of the subject to date.

1: Brigitte Granville and Peter Oppenheimer: Introduction 2: Christopher Granville: The Political and Societal Environment of Economic Policy 3: Barry Ickes: Dimensions of Transition 4: Brigitte Granville: The Problem of Monetary Stablization 5: Clemens Grafe and Kaspar Richter: Taxation and Public Expenditure 6: John Earle and Saul Estrin: Privatization and the Structure of Enterprise Ownership 7: Michael Dimitrieff, Mikhail Matovnikov, Leonid Mikhailov, and Ludmila Sycheva: The Banking Sector 8: Dirk Willer: Financial Markets 9: Andrei Lushin and Peter Oppenheimer: External Trade and Payments 10: Nat Moser and Peter Oppenheimer: The Oil Industry: Structural Transformation and Corporate Governance 11: Simon Commander and Andrei Tolstopiatenko: The Labour Market 12: Anders Aslund: The Development of Small Enterprises 13: Carole Scott Leonard and Evgenia Serova: The Reform of Agriculture 14: Irina Starodubrovskaya: Housing and Utility Services 15: Philip Hanson: Regional Income Differences 16: Jeni Klugman and Sheila Marnie: Poverty 17: Christopher Davis: The Health Sector: Illness, Medical Care, and Mortality

ISBN: 9780198295259
ISBN-10: 0198295251
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 576
Published: 1st September 2001
Country of Publication: GB
Dimensions (cm): 21.44 x 14.07  x 3.02
Weight (kg): 0.67