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A view at the Russian economic transformation

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  • E. F. Baranov
  • V. A. Bessonov

Abstract

The transition of the Russian economy from plan to market is considered at a qualitative level. The analysis of economic dynamics in the transformation paradigm is conducted. The main stages of the transition process are discussed. Bonuses and costs due to the transition to market economy are considered. The reasons for the outstripping growth of well-being as compared to the growth of output are discussed. The signs of exhaustion of the potential of factors ensuring an abnormally high rate of recovery and accompanying welfare growth are discussed. The conclusion is made that the transformational recovery has been completed. The Russian economy has moved to the stage of development with relatively low growth rates of output and welfare, typical for stable (nontransition) economies.

Suggested Citation

  • E. F. Baranov & V. A. Bessonov, 2018. "A view at the Russian economic transformation," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 11.
    • Handle: RePEc:nos:voprec:y:2018:id:1522
    DOI: 10.32609/0042-8736-2018-11-142-158
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