By 1999, Russia's economy was growing at almost 7% per year, and by 2008 reached 11th place in the world GDP rankings. Russia is now the world's second largest producer and exporter of oil, the largest producer and exporter of natural gas, and as a result has the third largest stock of foreign exchange reserves in the world, behind only China and Japan. But while this impressive economic growth has raised the average standard of living and put a number of wealthy Russians on the Forbes billionaires list, it has failed to solve the country's deep economic and social problems inherited from the Soviet times. Russia continues to suffer from a distorted economic structure, with its low labor productivity, heavy reliance on natural resource extraction, low life expectancy, high income inequality, and weak institutions. While a voluminous amount of literature has studied various individual aspects of the Russian economy, in the West there has been no comprehensive and systematic analysis of the socialist legacies, the current state, and future prospects of the Russian economy gathered in one book. The Oxford Handbook of the Russian Economy fills this gap by offering a broad range of topics written by the best Western and Russian scholars of the Russian economy. While the book's focus is the current state of the Russian economy, the first part of the book also addresses the legacy of the Soviet command economy and offers an analysis of institutional aspects of Russia's economic development over the last decade. The second part covers the most important sectors of the economy. The third part examines the economic challenges created by the gigantic magnitude of regional, geographic, ethnic, religious and linguistic diversity of Russia. The fourth part covers various social issues, including health, education, and demographic challenges. It will also examine broad policy challenges, including the tax system, rule of law, as well as corruption and the underground economy. Michael Alexeev and Shlomo Weber provide for the first time in one volume a complete, well-rounded, and essential look at the complex, emerging Russian economy.
1. INTRODUCTION ; A LOOK AT THE PAST ; 2. MODERNIZATION AND THE RUSSIAN ECONOMY: THREE HUNDRED YEARS OF CATCHING UP - VLADIMIR MAU AND TATIANA DROBYSHEVSKAYA ; 3. COMMAND ECONOMY AND ITS LEGACY - RICHARD E. ERICSON ; 4. RUSSIA'S ECONOMIC TRANSITION - ANDERS ASLUND ; 5. TRANSFORMATIONAL RECESSION - VLADIMIR POPOV ; 6. GROWTH TRENDS IN RUSSIA AFTER 1998 - REVOLD M. ENTOV AND OLEG V. LUGOVOY ; INSTITUTIONS AND GOVERNANCE ; 7. INSTITUTIONAL PERFORMANCE - LEONID POLISHCHUK ; 8. CORPORATE GOVERNANCE IN RUSSIA - RUBEN ENIKOLOPOV AND SERGEY STEPANOV ; 9. THE RUSSIAN TAX SYSTEM - MICHAEL V. ALEXEEV AND ROBERT F. CONRAD ; 10. THE UNOFFICIAL ECONOMY IN RUSSIA - BYUNG-YEON KIM ; 11. RUSSIAN CORRUPTION - MARK J. LEVIN AND GEORGY A. SATAROV ; RESOURCES AND ENVIRONMENT ; 12. RUSSIA'S DEPENDENCE ON RESOURCES - CLIFFORD G. GADDY AND BARRY W. ICKES ; 13. THE RUSSIAN OIL SECTOR - ARILD MOE AND VALERIY A. KRYUKOV ; 14. THE NATURAL GAS SECTOR - ARILD MOE AND VALERIY A. KRYUKOV ; 15. RUSSIAN ELECTRICITY MARKET: VARIANTS OF DEVELOPMENT - ALEXANDER VASIN ; 16. THE ECONOMICS OF MINERAL RESOURCES -STEPHEN FORTESCUE ; 17. THE CHALLENGE OF REFORMING ENVIRONMENTAL REGULATION IN RUSSIA - ALEXANDER A. GOLUB, MIKHAIL KOZELTSEV, ALEXANDER MARTUSEVICH AND ELENA STRUKOVA ; FINANCIAL AND REAL SECTORS ; 18. ECONOMICS OF THE MILITARY-INDUSTRIAL COMPLEX - STEVEN ROSEFIELDE ; 19. BLAME THE SWITCHMAN? RUSSIAN RAILWAYS RESTRUCTURING AFTER TEN YEARS - RUSSELL PITTMAN. ; 20. RUSSIAN AGRICULTURE AND TRANSITION - ZVI LERMAN AND DAVID SEDIK ; 21. SCIENCE, HIGH TECH INDUSTRIES AND INNOVATION - VALERY MAKAROV AND ALEXANDER VARSHAVSKY ; 22. RUSSIAN BANKING AS AN ACTIVE VOLCANO - KOEN SCHOORS AND KSENIA YUDAEVA ; 23. FINANCIAL AND CREDIT MARKETS - PEKKA SUTELA ; 24. RUSSIAN TRADE AND FOREIGN DIRECT INVESTMENT POLICY AT THE CROSSROADS - DAVID G. TARR AND NATALIA VOLCHKOVA ; REGIONS ; 25. ECONOMIC GEOGRAPHY OF RUSSIA - ANDREI MARKEVICH AND TATIANA N. MIKHAILOVA ; 26. FISCAL FEDERALISM: IMPACT OF POLITICAL AND FISCAL (DE)CENTRALIZATION - MICHAEL V. ALEXEEV AND SHLOMO WEBER ; 27. REGIONAL CHALLENGES: THE CASE OF SIBERIA - JUDITH THORNTON ; POLICY AND SOCIAL CHALLENGES ; 28. LABOR MARKET ADJUSTMENT: IS RUSSIA DIFFERENT? - VLADIMIR GIMPELSON AND ROSTISLAV KAPELIUSHNIKOV ; 29. PRIVATIZATION - J. DAVID BROWN, JOHN S. EARLE, AND SCOTT GELBACH ; 30. HIGHER EDUCATION REFORM AND ACCESS TO COLLEGE IN RUSSIA - MICHAEL W. KAGANOVICH ; 31. RUSSIA'S HEALTHCARE SYSTEM: DIFFICULT PATH OF REFORM - SERGEY SHISHKIN ; 32. POVERTY AND INEQUALITY IN RUSSIA - MICHAEL LOKSHIN AND RUSLAN YEMTSOV ; 33. RECENT DEMOGRAPHIC DEVELOPMENTS IN THE RUSSIAN FEDERATION - IRINA DENISOVA AND JUDITH SHAPIRO.
