The Oxford Handbook of the Russian Economy
Michael Alexeev, Shlomo Weber
Oxford University Press, Jun 4, 2013 - Business & Economics - 864 pages
By 1999, Russia's economy was growing at almost 7% per year, and by 2008 reached 11th place in the world GDP rankings. Russia is now the world's second largest producer and exporter of oil, the largest producer and exporter of natural gas, and as a result has the third largest stock of foreign exchange reserves in the world, behind only China and Japan. But while this impressive economic growth has raised the average standard of living and put a number of wealthy Russians on the Forbes billionaires list, it has failed to solve the country's deep economic and social problems inherited from the Soviet times. Russia continues to suffer from a distorted economic structure, with its low labor productivity, heavy reliance on natural resource extraction, low life expectancy, high income inequality, and weak institutions. While a voluminous amount of literature has studied various individual aspects of the Russian economy, in the West there has been no comprehensive and systematic analysis of the socialist legacies, the current state, and future prospects of the Russian economy gathered in one book. The Oxford Handbook of the Russian Economy fills this gap by offering a broad range of topics written by the best Western and Russian scholars of the Russian economy. While the book's focus is the current state of the Russian economy, the first part of the book also addresses the legacy of the Soviet command economy and offers an analysis of institutional aspects of Russia's economic development over the last decade. The second part covers the most important sectors of the economy. The third part examines the economic challenges created by the gigantic magnitude of regional, geographic, ethnic, religious and linguistic diversity of Russia. The fourth part covers various social issues, including health, education, and demographic challenges. It will also examine broad policy challenges, including the tax system, rule of law, as well as corruption and the underground economy. Michael Alexeev and Shlomo Weber provide for the first time in one volume a complete, well-rounded, and essential look at the complex, emerging Russian economy.
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agricultural allocation assets average billion bribes budget capacity capital central changes command economy companies competition corporate governance corruption costs countries crisis decline domestic EBRD economic growth electricity employment enterprises environment environmental estimates expenditures export factors farms figure firms fiscal foreign funding Gazprom Gini coefficient higher household important incentives income increase industry inequality infrastructure institutions investment labor land market economy measures Moscow OECD official oil and gas output ownership percent period political population post-Soviet poverty poverty line problems production property rights Putin reform regime regional regulation relatively rent resource rents result revenue Rosneft Rosstat rubles Rusal Russian economy Russian Federation RZhD Sberbank sector share shareholders Siberia significant social Source Soviet Union statistics structure subsidies tariffs tion trade transition economies Ukraine unofficial economy wage World Bank