A view at the Russian economic transformation

Author:

Baranov E. F.1,Bessonov V. A.1

Affiliation:

1. National Research University Higher School of Economics

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.

Publisher

NP Voprosy Ekonomiki

Subject

Economics and Econometrics,Finance

Reference23 articles.

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3. Bessonov V. A. (2004). O dinamike sovokupnoi faktornoi proizvoditel'nosti v rossiiskoi perekhodnoi ekonomike // Ekonomicheskii zhurnal VShE. T. 8, № 4. S. 542—587. [Bessonov V. A. (2004). On dynamics of total factor productivity in the Russian economy in transition. HSE Economic Journal, Vol. 8, No. 4, pp. 542—587. (In Russian).]

4. Bessonov V. A. (2005). Problemy analiza rossiiskoi makroekonomicheskoi dinamiki perekhodnogo perioda. M.: Institut ekonomiki perekhodnogo perioda. [Bessonov V. A. (2005). Problems of the analysis of Russian macroeconomic dynamics of the transition period. Moscow: Institute for the Economy in Transition. (In Russian).]

5. Vishnevskii A. G., Shcherbakova E. M. (2018). Demograficheskie tormoza ekonomiki // Voprosy ekonomiki. № 6. S. 48—70. [Vishnevsky A. G., Shcherbakova E. M. (2018). Demographic brakes of the economy. Voprosy Ekonomiki, No. 6, pp. 48—70. (In Russian).]

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