Abstract
Since the collapse of the communist regime and the dissolution of the Soviet Union in 1991, Russia has experienced two political and economic transitions. In the 1990s, the Russian economy was transformed from the command system of a central planning based on the almost monopoly of state ownership and largely closed to the external world to a more open market system based predominantly on private ownership. However, in 2003, the economic system started moving towards more state ownership, government interference in economic life, and inward-oriented economic policies. The global financial crisis of 2008–2009, the annexation of Crimea and the war in Donbas (2014–2015), the invasion of Ukraine in February 2022, and the associated sanctions and countersanctions accelerated this process.
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Notes
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- 2.
Amendments to the Constitution of the Russian Federation adopted in 2020 (see Chapter 5) further increased the prerogatives of the president and practically eliminated the time limit (two consecutive 6-year terms) for holding this office.
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The discussion of why this window of political opportunity was narrow and short-lived as compared with Central European and Baltic countries goes beyond the agenda of this chapter and this textbook.
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One of the questions concerned support for the socio-economic policy conducted by the president and the government.
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What was the real wage and income level in the early 1990s, in the presence of a widespread physical shortage of goods (a form of hidden inflation) and black market, is another question. Taking this factor into account, perhaps the actual decline in living standard in the 1990s was less dramatic than that statistically recorded.
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Dabrowski, M. (2023). Russia’s Two Transitions (1992–2003 and 2003–2022). In: Dabrowski, M. (eds) The Contemporary Russian Economy. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-17382-0_19
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