The contributors to this volume analyze the present state of the Russian economy and its future prospects - which now seem brighter than at any previous time in the country's history. The Russian economy is now showing positive GDP growth and a positive balance of payments, portending a trend of sustained growth. The record of the Putin presidency with respect to the establishment of market-friendly legal and administrative environments is substantially positive. On the other side of the ledger, the contributors identify the persistence of monopolies in energy, transportation, and agriculture; distortions resulting from corruption, infrastructural inadequacies, and the maldistribution of political power and decision-making authority; demographic decline and the erosion of human capital as manifested in the health, education, and welfare of the population. Russia's successful development as a democratic society with a market economy is of great importance to its neighbors and to the global economy, and specifically to the United States, which is why the U.S. Congress commissioned these studies by expert analysts. This edition includes a comprehensive subject index, making the volume user-friendly.
Table of Contents
Foreword, Senator Robert F. Bennett; Historical Note; Highlights and Overview, John Hardt; I. Past Economic Performance and Insights for Future Prospects; 1. Russia's Economic Performance: Entering the 21st Century, William H. Cooper; II. Russia's Economic Challenges; Removing Barriers And Providing An Incentive System; 2. The Russian Economy: How Far from Sustainable Growth? Ben Slay; 3. Unlocking Economic Growth in Russia, Vincent Palmeda and Bill Lewis; 4. Administration and Reform of the Russian Economy, Paul Gregory and Wolfram Schrettl; 5. Russian Crime and Corruption in an Era of Globalization: Implications for the United States, Jonathan M. Winer and Phil Williams; Financial Reform: Taxes, Budgets And Banks; 6. Tax Reform in Russia, Z. Blake Marshall; 7. Putin's Dilemma: Austere Budgeting in a Poor State, James A. Duran, Jr.; 8. Russian Defense Spending, Christopher J. Hill; 9. Russian Financial Transition: The Development of Institutions and Markets for Growth, David M. Kemme; Breakup Of Monopolies: Energy, Transportation And Agriculture; 10. The Russian Energy Sector: Current Conditions and Long-Term Outlook, Matthew J. Sagers; 11. Agricultural Reform: Major Commodity Restructuring but Little Institutional Change, William Liefert; Human Capital And The Social Contract; 12. Russia's Demographic and Health Meltdown, Murray Feshback; 13. Social Welfare: A Social Contract, Judyth L. Twigg; III. Long-Term Prospects for Russia's Economic Governance; 14. Long-run Prospects for the Russian Economy, James R. Millar; 15. Russias Evolution as a Predatory State, Peter J. Stavrakis; IV. Russia's Economic Future and U.S. Interests; 16. U.S. Bilateral Assistance to Russia, 1999-2001, Curt Tarnoff; 17. Arms Exports and Russia's Defense Industries: Issues for the U.S. Congress, Kevin P. Oprey; 18. U.S.-Russian Trade and Investment: Policy and Performance, Inga Litvinsky, Matt London, and Tanya Shuster; 19. Russia and the International Financial Institutions: From Special Case to a Normal Country, Jonathan E. Sanford