Russian economic reforms as perceived by western critics
Mau, Vladimir (31.12.1999)
Numero
12/1999Julkaisija
Suomen PankkiBank of Finland
1999
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-2014080899Tiivistelmä
It has recently become customary to argue that Russian economic transformation since 1991 has failed because of bad policy advice and mistaken policy choices.Though Russia's performance leaves much to be desired, such criticisms are based on a failure to analyse the real choices available to reformers in the post-perestroika period.The paper, criticising in particular the views presented by Jospeh Stiglitz, shows that the Chinese reform path was not available to Russia, that mass privatisation was influenced more by political necessity than theoretical choice, and also discusses the relation between doctrine and necessity in policy making more generally.The final section of the paper characterises Russia as a case of weak state, and identifies several of the consequences arising.
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