- Consulting Editors
- Modernization and the Russian Economy: Three Hundred Years of Catching Up
- Command Economy and its Legacy
- Russia’s Economic Transformation
- Transformational Recession
- Growth Trends in Russia After 1998
- Institutional Performance
- Corporate Governance in Russia
- The Russian Tax System
- The Unofficial Economy in Russia
- Russian Corruption
- Russia’s Dependence on Resources
- The Russian Oil Sector
- The Russian Natural Gas Sector
- The Russian Electricity Market: Variants of Development
- The Economics of Mineral Resources
- The Challenge of Reforming Environmental Regulation in Russia
- Economics of the Military-Industrial Complex
- Science, High-Tech Industries, and Innovation
- Blame the Switchman? Russian Railways Restructuring After Ten Years
- Russian Agriculture and Transition
- Russian Banking as an Active Volcano
- Financial and Credit Markets
- Russian Trade and Foreign Direct Investment Policy at the Crossroads
- Economic Geography of Russia
- Russian Fiscal Federalism: Impact of Political and Fiscal (De)centralization
- Regional Challenges: the Case of Siberia
- Labor Market Adjustment: is Russia Different?
- Higher Education Reform and Access to College in Russia
- Russia’s Health Care System: Difficult Path of Reform
- Poverty and Inequality in Russia
- Recent Demographic Developments in the Russian Federation
Abstract and Keywords
The chapter discusses evolution and performance of Russia’s economic institutions. Outcomes and driving forces of institutional change in the country throughout its postcommunist history are analyzed and related to exogenous factors such as culture, resource abundance, and economic inequality. A failure to establish market-supporting institutions, including secure property rights, as a spontaneous outcome of economic liberalization and privatization is explained. It is argued that Russia’s natural wealth drove a wedge between institutions and economic growth. Institutions established de jure do not always function in accordance with their raison d’être and are often misused in pursuit of opportunistic gains. The 2008 global crisis did not have a healing effect on Russian economic institutions. Economic and political elites are unlikely to become champions of institutional modernization in the country, and improvement of Russian institutions could occur in response to grassroots demand articulated by civil society.
Leonid Polischuk, is a Professor of Economics and the Head of the Laboratory for Applied Studies of Institutions and Social Capital at the National Research University Higher School of Economics, Moscow. His research interests include institutional reform, political analysis, democratic transition and the economic role of social capital.
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