Russia’s Current Economic System: From Delusion to Glasnost

Michael Ellman

Comparative Economic Studies, 2015, vol. 57, issue 4, 693-710

Abstract: Many observers have seen Russia as a transition economy gradually moving to an economic system of the Western type. This paper disagrees with that and argues that Russia’s economic system is a natural-resource-based capitalist one with Russian characteristics. The most important specifically Russian characteristics are its location, its unaccountable government, its dependent judiciary, the insecurity of private property, the importance of state planning, and the role of military factors. Taking these issues into account, some thoughts are offered on likely future developments.

Date: 2015
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