Review of Russia's Crony Capitalism: The Path from Market Economy to Kleptocracy by Anders Åslund

Michael Alexeev

Journal of Economic Literature, 2021, vol. 59, issue 1, 220-43

Abstract: Anders Åslund provides a comprehensive description of the main political and economic events of Vladimir Putin's 20 years at the helm of the country. In politics, Åslund shows how Putin skillfully maneuvered to destroy democracy in Russia. I argue that the "cultural backlash" by older generations played perhaps an even more important role. I also show that the young generations hold rather liberal values, thus providing hope for the future. In economics, Åslund focuses on large state corporations, assets of Putin's cronies, and macroeconomic policies, with only general statements about the country's institutional weakness. I complement Åslund's analysis by a more detailed examination of the impact of institutions and briefly survey fiscal federalism and informal economic activities—issues without which the workings of the Russian economy are hard to understand.

JEL-codes: D72 H77 O52 P26 P35 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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DOI: 10.1257/jel.20201566

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