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Economic Strategy for the Peripheral System

Author

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  • Yavlinsky, G.

    (National Research University Higher School of Economics, Moscow, Russia)

Abstract

Russian economic system is considered as a peripheral capitalist economy. For this type of economy the concept of "economic strategy" does not seem applicable, since the system itself rigidly defines the logic of development. It determines such features of Russia's economy as a large role of export of mineral resources, dependence on external financial markets and on foreign investments as the source of new technologies; government and business interweaving; financial flows configured by rent income extraction through administration and corruption. With lacking civil society, weak institutions and subordinated position within the world economy the system can be transformed only through conscious efforts of authorities. However political regime which evolved in the country - peripheral autocracy - makes only more conspicuous the lack of political will to reform the system. So a scenario of Russia implementing the strategy of breaking through the limitations of the peripheral area of world capitalism is postponed for an indefinite period of time.

Suggested Citation

  • Yavlinsky, G., 2015. "Economic Strategy for the Peripheral System," Journal of the New Economic Association, New Economic Association, vol. 26(2), pages 173-178.
    • Handle: RePEc:nea:journl:y:2015:i:26p:173-178
    as

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    References listed on IDEAS

    as
    1. Yavlinsky Grigory & Braguinsky Serguey, 1994. "The Inefficiency of Laissez-Faire in Russia: Hysteresis Effects and the Need for Policy-Led Transformation," Journal of Comparative Economics, Elsevier, vol. 19(1), pages 88-116, August.
    2. G. Yavlinsky., 2007. "The Necessity and Ways of Legitimation of Large-scale Private Property in Russia: Raising a Problem," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 9.
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    More about this item

    Keywords

    peripheral capitalism; economic growth; reform; political regime; modernization; economic development strategy; relations with the West;
    All these keywords.

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General
    • P11 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Planning, Coordination, and Reform
    • P14 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Property Rights
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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