BOFIT Discussion Papers, Institute for Economies in Transition, Bank of Finland
Markets and democracy in Russia
Abstract: The paper looks into convergence of Russian institutions
with those of other democratic, free-market-oriented states, and considers
definitions of "normalcy" that incorporate the concepts of free market,
democracy, and government efficiency. The author provides an estimate of
Russia’s institutional convergence to the standards of the G7 and the “Big
Five” group of large, middle-income countries that includes Brazil, China,
and India. In some areas Russia outperforms "Big Five" countries, in others
it trails behind. Finally, public mistrust, corruption, and inefficient
governance in Russia are discussed in light of the Putin administration’s
current reform policies.
Keywords: free market; democracy; institutions; Russia; (follow links to similar papers)
JEL-Codes: O57; P30; P52; (follow links to similar papers)
43 pages, December 30, 2005
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