Vladimir Mau

Russian Economic Reforms as Perceived by Western Critics

It has recently become customary to argue that Russian economic transformation since 1991 has failed because of bad policy advice and mistaken policy choices. Though Russia’s performance leaves much to be desired, such criticisms are based on a failure to analyse the real choices available to reformers in the post-perestroika period. The paper, criticising in particular the views presented by Jospeh Stiglitz, shows that the Chinese reform path was not available to Russia, that mass privatisation was influenced more by political necessity than theoretical choice, and also discusses the relation between doctrine and necessity in policy making more generally. The final section of the paper characterises Russia as a case of weak state, and identifies several of the consequences arising.

Post-Communist Russia in Post-Industrial World: Elements of Catching-Up Policy

The paper discusses the strategy of economic development of Russia, which has to be developed after the end of the first stage of post-communist transition – when private economy replaced the state-controlled one and stabilization has been obtained. Russia is considered as a heavy industrialized country, which has faced the challenges of post-industrial modernization in the logic of catching-up development. This makes it different from so called ‘new industrial states’ – countries that have to resolve the task of transformation of traditional (agrarian) society to industrial one. Analysis is based on the approaches of A. Gerschenkron to ‘accelerated industrialisation’ and their adjustment to post-industrial world. The author suggests a set of economic policy principles, which could ensure sustainable economic growth and stimulate structural reforms appropriate for the new challenges, that is to stimulate transformation of industrial country to post-industrial one. This is considered as a ‘policy of catching-up post-industrialization.

Lessons of the Spanish Empire, or the Curse of Resource Abundance

The role of natural resources in contributing to stable economic development is of growing interest to economists and politicians. In evaluations of the prospects for development of a given country it was once assumed that rich natural resources and a vast territory provided favorable conditions for successful socio-economic development. However, in recent decades this assumption has been qualified: it is now realized that these conditions create only the potential for growth, whereas actual economic development can turn out to be unimpressive

The role of state and creation of a market economy in Russia

This paper examines the role of institutions in economic growth and the role of the institutions created by the Russian state in particular. The author stresses the finding that growth-supporting institutions vary according to the level of economic development in a country. In a post-industrial society, that Russia aspires to be, further economic development requires promotion of institutions securing e.g. property rights and economic freedom. Finally, based on these observations, the three development scenarios frequently discussed in the current Russian economic policy debates are analysed.

Economic and Political Results for 2001 and Prospects for Strengthening Economic Growth

The year 2001 concluded the first decade of post-Communist transformation, Russia’s development in a regime of market democracy. The period witnessed difficult and complex processes of the transformation of Soviet socialism into a new society. A tortuous and contradictory path gave rise to acrimonious debate about the very nature of reform, its effectiveness and appropriateness, about whether there were alternative ways of meeting the challenges that the country was facing.

Capital Humano: Desafios Para a Rússia (Human Capital: Challenges for Russia)

Portuguese Abstract: O capital humano e reconhecidamente o fator mais importante no crescimento economico nos tempos modernos. Isto deveria ser prioridade em nossa politica socio economica. No entanto, simples reconhecimento desse fato nao e suficiente para um salto qualitativo no desenvolvimento de educacao, saude e previdencia social. Transformacoes profundas desses setores sao necessarias, baseando-se nos principios que correspondem aos desafios modernos da era pos-industrial. Estes desafios incluem individualizacao dos servicos prestados e seu carater continuo (demanda ao longo da vida), privatizacao (o reforco do papel do financiamento privado), internacionalizacao da concorrencia, surgimento de solucoes tecnologicas inovadoras na prestacao desses servicos.English Abstract: The development human capital is now recognized as being the most important precondition of economic growth in modern times. It should be a priority in our socio-economic policy. However, recognition of this fact alone will not produce a qualitative leap in the development of education, healthcare and the pension system. We need fundamental changes in these sectors if they are to become capable of meeting the challenges of post-industrial society. This will mean individualization of the services provided, continuous delivery of these services (over the lifetime of an individual), privatization (an increase in the role of private funding), the internationalization of competition and implementation of the latest technologies in the delivery of services.

Human Capital: Challenges for Russia

The development of human capital is now recognized as being the most important precondition of economic growth in modern times. It should be a priority in our socio-economic policy. However, recognition of this fact alone will not produce a qualitative leap in the development of education, healthcare and the pension system. We need fundamental changes in these sectors if they are to become capable of meeting the challenges of post-industrial society. This will mean individualization of the services provided, continuous delivery of these services (over the lifetime of an individual), privatization (an increase in the role of private funding), the internationalization of competition and implementation of the latest technologies in the delivery of services.

Central Planning in the Soviet System

It was always maintained by Soviet theorists that the distinguishing feature of the Soviet socialist or Communist economy would be centralized economic planning. This was their sine qua non and all discussions over the Soviet economic model revolved around two questions: what should be the nature of economic planning and how was an effective centrally planned economy to be constructed? These were two sides of the same problem but historically solutions were sought along different lines of enquiry

Global Crisis: Past Experiences and Future Challenges

A detailed analysis of all crises (we shall describe them, with some qualification, as ‘systemic crises’) exceeds the scope of the present article. Here, we shall highlight only some of their common features. What they have in common has nothing to do with the extent of the decline in production or of the collapse of financial markets or with the parameters of inflation or budget deficit. The similarities cannot be measured in statistical terms but reside in a number of qualitative features that exerted a significant influence on the later development of the political, economic and intellectual processes of the leading countries of the world.