Stability and Disorder: An Evolutionary Analysis of Russia's Virtual Economy

Clifford Gaddy and Barry W. Ickes

No 276, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

Abstract: The hybrid system that the Russian transition has evolved into has been called the virtual economy. This paper analyzes the evolution of the virtual economy. We pay particular attention to the interaction of economic reform policies and the adaptive behavior of enterprise directors. We then analyze the implications of the virtual economy for Russia's stability and development, and place the evolution of the virtual economy into the larger international security context.

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Date: 1999-11-01
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