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Hardcover | $6.75 Short | £5.95 | ISBN: 9780262025423 | 152 pp. | 5.375 x 8 in | 19 illus. | June 2003

The New Political Economy of Russia


Can Russia's recent burst of economic growth be sustained? Taking a comprehensive look at the economic and political regime shift from Yeltsin to Putin, this book explores the key challenges facing the Russian economy: to narrow the productivity gap between Russian and Western firms and industries; to attract more domestic and foreign investment; and, underlying these goals, to implement the judicial, administrative, social, and banking reforms necessary to future growth.Written by a team of researchers from the Center for Economic and Financial Research--a Moscow-based independent think tank--the book draws on a wealth of new research and data. The authors emphasize the need to strengthen the protection of property rights, restructure the banking sector, and reduce government officials' powers to intervene arbitrarily in private businesses. They also stress the importance of enhancing human capital--through educational reform and by reducing barriers to citizens' geographical and sectoral mobility. Considering political institutions, the authors examine the promise and risks of the centralization of power around President Putin. Finally, they discuss the likely impact of Russia's greater integration into the world economy, notably through its potential membership in the World Trade Organization.

About the Authors

Erik Berglöf is Director of the Stockholm Institute of Transition Economies and Eastern European Economies at the Stockholm School of Economics and President of the Center for Economic and Financial Research (CEFIR).

Andrei Kunov is a doctoral candidate in political science and international political economy at Stanford University and Senior Economist at CEFIR.

Julia Shvets is a doctoral candidate in economics at the London School of Economics and Political Science, a researcher at the Centre for Economic Performance, and Senior Economist at CEFIR.


“"An encyclopedic, integrated, and thoroughly modern presentation of labor economics, from supply and demand decisions to unemployment to the role and effects of institutions. Topics with which I am familiar have been given a clear, concise, precise, balanced, and convincing treatment. This is an outstanding textbook."--Olivier Blanchard, Professor of Economics, MIT”
“"A marvellous essay on how technology, education, and management all combine to shape and change the world we live in. The style is superb, the insights many, the propositions challenging. One hundred pages of pure intellectual fun."--Olivier Blanchard, Professor of Economics, MIT”
“"A beautiful and elegant book. A well argued and convincing thesis: That, after centuries of dream chasing, pragmatism has come to Latin America. One passionately hopes that it will not go away."--Olivier Blanchard, Professor of Economics, MIT”