The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Russian Economy

  • Michael Alexeev
  • Shlomo Weber
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_2853

Abstract

Although the Russian economy performed poorly in the first 7 years following the collapse of the USSR, the reforms of the 1990s laid the foundation for strong growth in 1998–2008. The early 2000s also saw successful reforms, such as the flat income tax and streamlined regulations. Serious challenges remain, however, including high dependence on natural resources, pervasive corruption, and rapid aging of the population and its distorted geographical distribution. The ability to rid itself of the remaining Soviet legacies in the economic structure, institutions and people’s mindset will determine whether Russia can break its historical pattern of growth spurts followed by stagnation.

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Michael Alexeev
    • 1
  • Shlomo Weber
    • 1
  1. 1.