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The Russian Crisis: Perils and Prospects for Post-Soviet Transition
Peter J. Boettke
The American Journal of Economics and Sociology
Vol. 58, No. 3 (Jul., 1999), pp. 371-384
Published by: American Journal of Economics and Sociology, Inc.
Stable URL: http://www.jstor.org/stable/3487768
Page Count: 14
You can always find the topics here!Topics: Political economy, Economic systems, Economic transitions, Economic reform, Commercial production, Poverty, Socialism, Economic hardship, Capitalism, Political reform
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Since 1992, the rhetoric of Russian economic reformers has been one of full-speed ahead to a free-market economy. The reality, however, has diverged significantly from this rhetoric at both a broad "rules of the game" level and specific "policy within rules" level. The resulting ambiguity of the economic environment and the lingering effects of the previous system which is supposed to be reformed has led to a continued deterioration of the Russian economy. This paper offers a modified defense of "shock therapy" as a path to a cure for Russia's economic malaise, as opposed to the cure itself.
The American Journal of Economics and Sociology © 1999 American Journal of Economics and Sociology, Inc.