Policy Proposal for Economic Reform in Russia :: policy proposal economic reform russia despite making recovery 1998 market crash remains weighted numerous holdovers communist era keep economy taking advantage free reforms short prospered under capitalism yet discovered order russian government must engage extensive several key areas improving rule law creating stable monetary ending favoritism particular businesses engaging would Economics Political Politics Policy Proposal for Economic Reform in Russia

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Policy Proposal for Economic Reform in Russia

Despite making a recovery after the 1998 market crash, Russia remains weighted with numerous holdovers from the Communist era that keep its economy from taking advantage of free-market reforms. In short, Russia has not prospered under capitalism because it has not yet discovered it. In order to do so, the Russian government must engage in extensive reform in several key areas: improving the rule of law, creating stable monetary policy, and ending a policy of favoritism to particular businesses. Engaging in these reforms would lower the extremely high transaction costs of doing business legally, stimulating a wave of new investment and wealth creation within Russia, as well as encouraging investment from abroad.

While the causes of Russia?s economic problems are numerous, the absence of a rule of law causes enormous unpredictability and uncertainty that is the primary barrier to economic growth. The regulatory mess caused by presidential decrees, legislative changes and numerous bureaucracies putting out contradictory rulings is jus... [to view the full essay now, purchase below]

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