The new Russia : transition gone awry / edited by Lawrence R. Klein and Marshall Pomer.

Format:

Book

Contributor:

Klein, Lawrence R. (Lawrence Robert), 1920-2013.

Pomer, Marshall I.

Language:

English

Subjects (All):

Russia (Federation)--Economic policy--1991-.

Russia (Federation).

Economic policy.

Russia (Federation)--Economic conditions--1991-.

Economic conditions.

Physical Description:

xxiii, 454 pages : illustrations ; 24 cm

Place of Publication:

Stanford, Calif. : Stanford University Press, [2001]

Summary:

This book delivers an unpopular message: the West has played a pivotal role in the Russian economic disaster of the 1990s. Western advisors, including the International Monetary Fund and the U.S. Treasury, applied a narrow conception of economics that pushed Russia, after more than seventy years of communism, toward another failed utopia.

The twenty-six contributions to this book are divided into three parts: theory, evidence, and policy. Part One directly challenges orthodox economic theory for obscuring the necessary role of government in creating and sustaining a market system and features essays by three Nobel laureates in economics -- Kenneth J. Arrow, Lawrence R. Klein, and James Tobin. Part Two describes the dimensions of the economic crisis in Russia and presents a Russian perspective on the failure of shock therapy. Part Three presents policy recommendations, with special attention given to improving the integrity and administrative competence of the Russian government.

Contents:

Part 1 Economic Role of Government

1. Transition and Government / Marshall Pomer 21

2. Neoliberalism / Oleg Bogomolov 53

3. A Balanced Approach / Leonid Abalkin 61

4. False Expectations / James Tobin 65

5. What Do Economists Know about Transition to a Market System? / Lawrence R. Klein 73

6. The Role of Time / Kenneth J. Arrow 85

7. Institutional Traps / Victor M. Polterovich 93

8. Lessons from Korea / Irma Adelman 117

Part 2 Economic Crisis

9. Demise of the Command Economy / Marshall Pomer 139

10. Origins and Consequences of "Shock Therapy" / Georgi Arbatov 171

11. Economic Subordination to the West / Sergei Glaziev 179

12. Sham Stabilization / Yevgeny Gavrilenkov 189

13. Macroeconomic Disorder: A Comparison with China / Andrei Belousov, Lance Taylor 199

14. Ersatz Banks / Michael S. Bernstam, Andrei Sitnikov 221

15. Crime and Corruption / Svetlana P. Glinkina, Andrei Grigoriev, Vakhtang Yakobidze 233

16. Poverty and Social Assistance / Vladimir Mikhalev 251

Part 3 Policy Agenda

17. Government Leadership / Marshall Pomer 271

18. Restructuring Agencies / David Ellerman, Dmitri Kuvalin, Marshall Pomer 299

19. Aggregate Demand / Stanislav Menshikov 315

20. Trade Within the Commonwealth of Independent States / Ruslan S. Grinberg 325

21. Agriculture / Geliy Shmeliov, Bruce McWilliams, John Giraldez, Alexander Vedrashko 333

22. The Coal Industry / Alexander Arbatov, Edit Kranner 353

23. Energy Efficiency / Eric Martinot, Vladimir Usiyevich 365

24. Real Estate Markets / Dwight Jaffee, Olga Kaganova 379

25. Management of Public Holdings / Alexander D. Nekipelov 393

26. Human Capital / Michael D. Intriligator, Serguey Braguinsky, Vitaly Shvydko 403

27. Reform Agenda / Economic Transition Group 413.

Notes:

Includes bibliographical references and index.

ISBN:

0804741271

0804741654

OCLC:

44026457