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This 2014 Article IV Consultation highlights that the Russian Federationâ??s growth slowdown that began in 2011, reflecting structural constraints, continued in 2013 despite accommodative policies. Real GDP growth slowed to 1.3 percent owing to a contraction in investment while consumption remained robust owing to strong real wage growth and an unsecured consumer credit boom. The general government balance moved from a modest surplus in 2012 to a deficit of slightly more than 1 percent of GDP in 2013. The IMF staff projects real GDP growth at 0.2 percent in 2014 with considerable downside risk

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

Vadim Kufenko provides a theoretical and empirical analysis of various aspects of economic growth and income inequality in the Russian regions using different estimation techniques from the cross-section OLS and logistic models to dynamic panel data system GMM. The general period for the data is 1995-2012. Acknowledging the crucial role of human capital, the author models the brain-drain using game theory and shows that the owners of human capital may have monetary as well as institutional motives. He states that the income gap between the regional elite and the population is a robust positive determinant of the risk of protests. ? Vadim Kufenko is a research assistant at the Department of Economics at University of Hohenheim.

Russia is one of the world's largest growing economies. With this exciting new growth and development, there is a wealth of knowledge to be discovered from the strategies and models being used and created throughout Russia's economy.Modeling Economic Growth in Contemporary Russia portrays and sets pieces of Russia's growth strategies to produce an extraordinary record of economic analysis. A leading expert in emerging markets, editor Bruno S. Sergi and a cast of experienced Russian academics offer a wealth of questions and critical examples on Russia that are delivered through a sound framework and provide unique knowledgeable support and interdisciplinary research about modeling a sound growth strategy for Russia. Through various chapters on financial development and economic growth, Sergi explores the fascinating landscape of Russia's economy, including chapters on green investment; education and inclusive development; sustainability; smart cities; international cooperation; and innovation-based growth.For anyone interested in international economics, or students of emerging economies and markets, this is a fundamental study of an area that has never before been studied in such depth.

chapter Introduction -- chapter 1 Russian Regionalism, Policy-Making and State Development -- chapter 2 The Legal Substructure of Market Reforms in Russia: Achievements and Deficiencies -- chapter 3 The 'Oligarchs': a Force to Reckon With? -- chapter 4 Nothing Learned, Nothing Forgotten: Restructuring without Reform in Russia's Banking Sector -- chapter 5 Adjustment to Change: the Case of the Oil and Gas Industry -- chapter 6 Down, Out and Forever Desperate? The Role of Coal Miners' Protests in Russian Politics -- chapter 7 Minatom: the Last Soviet Industrial Ministry -- chapter 8 The Evolution of New Institutions in the Small Business Sector -- chapter 9 Factors Affecting Entrepreneurial Small Businesses in Novgorod the Great -- chapter 10 Structural Change and Distributional Consequences in Russia's Regional Economies -- chapter 11 The Politics of Russia's Regions: a Comparative Perspective -- chapter 12 Creating Social Capital in Russia: the 'Novgorod Model' -- chapter 13 The Moral Embeddedness of the Market-Conceptualising Post-Socialist Transformations -- chapter 14 Institutional Legacy of the Old Regime as a Constraint to Reform: the Case of Fiscal Policy -- chapter 15 The Subversion of Democracy in Russia: an Informal Practice Perspective.

How do individuals decide to exercise their democratic rights? This book argues that they first assess their economic autonomy, meaning their ability to make a living independent of government authorities. Before individuals consider whether their resources and organizational abilities are adequate to act on their interests, they calculate the risk of political activism to their livelihood. This is particularly evident in regions of the world where states monopolize the economy and thus can readily harass activists at their workplaces. Economic autonomy links capitalism and democracy through individuals' calculations about activism. Accounts of activists' decisions about establishing independent media, leading political organizations, and running for office and descriptions of government harassment in Russia and Kyrgyzstan, along with examples from most regions of the world, illustrate these arguments. Economic autonomy and the interaction among democratic rights help explain the global proliferation of hybrid regimes, governments that display both democratic and authoritarian characteristics

Utilising cutting-edge theory and unique data, this book examines the role of power, culture, and practice in Russia's story of post-socialist economic change, and provides a framework for addressing general economic change. No other book places power and culture as centrally as this, and in doing so it provides new insights not only into how Russia came to its present state under Putin, but also how economies operate and change generally. In particular, the importance of remaking authority and culture - creating and contesting new categories and narratives of meaning - is shown as central to

Russia's Economic Transitions examines the three major transformations that the country underwent from the early 1860s to 2000. The first transition, under Tsarism, involved the partial break-up of the feudal framework of land ownership and the move toward capitalist relations. The second, following the Communist revolution of 1917, brought to power a system of state ownership and administration - a sui generis type of war-economy state capitalism - subjecting the economy's development to central commands. The third, started in the early 1990s and still unfolding, is aiming at reshaping the inherited economic fabric on the basis of private ownership. The three transitions originated within different settings, but with a similar primary goal, namely the changing of the economy's ownership pattern in the hopes of providing a better basis for subsequent development. The treatment's originality, impartiality and historical breadth have cogent economic, social and political relevance

The book is a personal account of the changes in the economies, politics and societies of former Soviet Union countries, and the role of the IMF in helping them make the transition from planned to market economies. From 1992 to 2003, the author was in charge of the IMF's work on the fifteen countries that emerged from the former Soviet Union.