The Economics of Growth in Russia: Overcoming the Poverty Trap

This book examines the theoretical and empirical factors contributing to economic growth in Russia, focusing on the country's transition from a planned economy to a market economy in the 1990s. It investigates the role of foreign aid in overcoming the poverty trap and concludes that foreign aid does not play a significant role in the national economy. The book is of interest to scholars, students, and investors interested in Russia's economic development.

Format: Hardback
Length: 162 pages
Publication date: 17 May 2023
Publisher: Taylor & Francis Ltd

This comprehensive book delves into a thorough theoretical and empirical exploration of economic growth in Russia, shedding light on the profound challenges the country faced during its transition from a planned economy to a market-oriented economy in the 1990s. The devastating decline in national production, directly linked to the arduous and poorly executed shift, plunged Russia into a vicious cycle of poverty. The central objective of this book is to assess whether and how Russia can break free from the poverty trap and embark on a path of sustainable economic growth.

Addressing a critical gap in scholarly literature, this study identifies the role and significance of foreign aid in the market-type post-transitional Russian economy. Contrary to conventional theories of the poverty trap, this research concludes that foreign aid plays a minimal role in the national economy. Development economists should exercise caution in over-emphasizing the role of foreign aid in overcoming the poverty trap in developing economic systems that are still in the process of reaching equilibrium and moving towards their steady state.

This book offers valuable insights into specific problems inherent in Russia's newly established capitalism, providing a comprehensive perspective on the country's challenges and its current semi-peripheral status. It serves as an essential resource for students enrolled in Russian studies programs, offering a deep understanding of the domestic economic conditions and processes that shape Russia's development. Additionally, investors seeking to engage in business in Russia will find this book invaluable, as it provides a comprehensive overview of the country's economic landscape and the factors that influence its growth and development.

In conclusion, this book is a groundbreaking contribution to the field of economic studies, offering a comprehensive and nuanced analysis of economic growth in Russia. It sheds light on the complex challenges the country faced during its transition and provides valuable insights into the role of foreign aid in shaping its economic trajectory. Whether you are a scholar, student, or investor, this book is a must-read for anyone interested in understanding Russia's economic landscape and its potential for future growth.

Weight: 490g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032460390