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Russia’s Current Economic System: From Delusion to Glasnost

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  • Michael Ellman

    (Economics & Business, University of Amsterdam, Plantage Muidergracht 12, Amsterdam 1018 TV, The Netherlands.)

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.

Suggested Citation

  • Michael Ellman, 2015. "Russia’s Current Economic System: From Delusion to Glasnost," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 57(4), pages 693-710, December.
    • Handle: RePEc:pal:compes:v:57:y:2015:i:4:p:693-710
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