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Markets and democracy in Russia

Vlad Ivanenko

No 16/2005, BOFIT Discussion Papers from Bank of Finland, Institute for Economies in Transition

Abstract: The paper looks into convergence of Russian institutions with those of other democratic, free-market-oriented states, and considers definitions of "normalcy" that incorporate the concepts of free market, democracy, and government efficiency.The author provides an estimate of Russia s institutional convergence to the standards of the G7 and the Big Five group of large, middle-income countries that includes Brazil, China, and India.In some areas Russia outperforms "Big Five" countries, in others it trails behind.Finally, public mistrust, corruption, and inefficient governance in Russia are discussed in light of the Putin administration s current reform policies. JEL: O57, P30, P52 Keywords: Free market, democracy, institutions, Russia

JEL-codes: O57 P30 P52 (search for similar items in EconPapers)
Date: 2005-11-30
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