Russia's development problem

"This book argues that Russia has struggled under autocratic power and that this continues to affect economic development today. A 'cult of power' has underpinned legal nihilism, distrust, secrecy and aversion to transparency and accountability. Informal institutions are more important than formal institutions, and influence macroeconomic development. Property and power are merged, while property rights are weakly developed. Russia does not only face market failure, but also hierarchy and network failure. A system of values and social practices, with deep historic roots, constitutes perhaps the most formidable obstacle to social and economic development." "By exploring the operating mechanisms of the Russian economy in a comparative perspective, and with fascinating insights into how Russian path dependence continues to exert an influence on modern-day Russia and limit its development, this book is essential reading for all those interested in the Russian economy and modern Russian history."--Jacket.

Year

2009

Language

English

Series

Studies in economic transition

Publisher

Palgrave Macmillan

Editions

1

Pages

191

ISBN

9780230542785

Data source: Wikidata