Beyond oil: the international integration of the Russian economy between macroeconomic constraints and sectoral dynamics

Pascal Grouiez, Julien Vercueil and Dmitry D. Volkov

Post-Communist Economies, 2021, vol. 33, issue 6, 770-794

Abstract: This study provides new insights into the internal dynamics and international integration of non-rentier sectors in Russia. Our approach consists in analysing the evolution of two non-rentier industries (agri-food and software), focusing on three groups of variables characterising their institutional environment, namely the macroeconomic context, public policies, and private strategies pursued by the main players. Based on the analysis of quantitative and qualitative data coming from field surveys and statistical databases, we introduce distinct forms of international integration that shed light on the players’ strategies in adapting to changes in macroeconomic variables. The following paradox emerged: although the macroeconomic constraints stemming from rent should have hindered the development of non-rentier sectors in a scheme characteristic of the classical ‘Dutch disease’ framework, we have observed that these two industries have been able to continue to develop, each following its own path. Our analysis shows that the mix of constraints and opportunities faced by these industries has shaped their partial autonomy vis-à-vis the rent-based ‘accumulation regime’ characteristic of the country.

Date: 2021
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DOI: 10.1080/14631377.2020.1867462

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