ABSTRACT

Russia's Market Economy is a seminal account of Russia's transition to the market, its tortuous development as a fledgling market economy through the 1990s, right through to its spectacular collapse in August 1998. Rather than beginning with the economic collapse, the book traces the historical mismanagement of Russian wealth through to the Soviet command economy, and on to Gorbachev. Stefan Hedlund finally discusses what lessons should be learned from the damage inflicted on the Russian economy, as well as its social, legal and political infrastructure, by the race of reform.

part |1 pages

Part I Introduction

chapter 1|31 pages

Russian riches mismanaged

part |1 pages

Part II Framework

chapter 2|43 pages

The heavy burden of history

chapter 3|26 pages

Prelude under Gorbachev

chapter 4|40 pages

The West gets involved

part |1 pages

Part III The reform programme

chapter 5|45 pages

Financial destabilization

chapter 6|36 pages

Banks, bonds and surrogate money

chapter 7|42 pages

Russia under the new regime

part |1 pages

Part IV Lessons to be learned

chapter 8|38 pages

A Russian path dependence

chapter 9|36 pages

Victory for the kleptocrats?

chapter 10|31 pages

Whither Russia?