Resource Curse in a Post-Communist Regime: Russia in Comparative Perspective

Russias transformation into a market economy has engendered mythology, and this book examines how the energy sector has influenced economic growth and political development. It provides an in-depth analysis of the countrys export of oil and gas, highlighting the importance of the major oil and gas companies for the functioning of Russian politics.

Format: Hardback
Publication date: 01 January 2021
Publisher: Taylor & Francis Ltd

Russias transformation into a market economy has given rise to numerous myths and misconceptions in the Western world. Scholars and media outlets have presented a wide range of perspectives on the prospects of the Russian economy, with varying conclusions. However, all existing studies tend to focus on specific aspects of economic reform, such as privatization, federalism, weak state institutions, and backward financial systems, with occasional references to relevant sectors of the economy. This book takes a different approach by examining how one of the major sectors of the economy, energy, has influenced economic growth and political development in Russia. It provides an in-depth analysis of the countrys export of oil and gas, highlighting the importance of the major oil and gas companies for the functioning of Russian politics. The book begins by examining the period of Gorbachevs economic reform and the initial stages of market transition under Yeltsin, which saw the energy sector go through a tumultuous period. It highlights the challenges faced by the energy sector during this time, including the privatization of state-owned enterprises, the development of new energy markets, and the impact of international sanctions. The book then explores the role of the major oil and gas companies in shaping Russian politics. It examines how these companies have used their economic power to influence government policies, including energy subsidies, tax breaks, and regulatory frameworks. It also highlights the political influence of these companies on the media and public opinion. The book concludes by discussing the implications of the energy sectors influence on economic growth and political development in Russia. It argues that the energy sector has played a critical role in shaping the countrys economic and political landscape, and that its continued importance will likely shape the future of Russia. However, it also notes that the energy sector is not immune to corruption and other forms of abuse, and that efforts to address these issues are essential for the long-term stability of the country. Overall, this book provides a comprehensive and insightful analysis of the role of the energy sector in shaping economic growth and political development in Russia. It offers valuable insights into the challenges faced by the energy sector during the period of economic reform and the initial stages of market transition, and highlights the importance of the major oil and gas companies for the functioning of Russian politics.

ISBN-13: 9781138717930