No. 149: The Russian Economy
Author(s): Philip Hanson, Irina Nikolaevna Il’ina, Carol S. Leonard, Evgenii Plisetskij
Editor(s): Stephen Aris, Matthias Neumann, Robert Orttung, Jeronim Perović, Heiko Pleines, Hans-Henning Schröder, Aglaya Snetkov
Series: Russian Analytical Digest (RAD)
Publisher(s): Center for Security Studies (CSS), ETH Zurich; Research Centre for East European Studies, University of Bremen; Institute for European, Russian and Eurasian Studies, George Washington University
Publication Year: 2014
This edition considers the current state of the Russian economy. Firstly, Philip Hansen assesses the reasons for the economic slowdown that predated the Ukraine crisis, highlighting that the radical reforms needed to improve business confidence seem unlikely to be undertaken. He also notes that fallout from the Ukraine crisis will have a negative impact on the short-term prospects for growth, and that although in the medium term some restoration of growth is possible, this will only likely reach rates below the global average. Secondly, Irina Nikolaevna Il’ina, Carol S. Leonard, and Evgenii Plisetskij examine the resilience of resource abundant regions in the aftermath of the global financial crisis, by way of a case study of Khanty-Mansiysk Autonomous Okrug. They argue that long-term efficient and cooperative budget planning and performance account for the resilience of such regions.