Russia's Uncertain Economic Future (CRS)

Dec 01 2001

Russia’s economy has rebounded significantly since the crisis of 1998. Economic growth has resumed, unemployment has fallen, and production, consumption, and investment have all expanded. At the same time, Russia has initiated a series of promising economic reforms, including strengthening its banking system and enacting fundamental tax reform. These improvements illustrate Russia’s potential for a strong economic future. At the same time, memories of past economic difficulties demonstrate the risks that Russia faces if its reforms do not succeed. Russia’s economic future is of great importance to the United States. To assist American citizens and policymakers in thinking about that future, I asked the Congressional Research Service to commission a collection of expert reports on the Russian economy. The resulting reports review the recent history of the Russian economy, analyze current policy issues, and consider possible futures. The reports were prepared by experts—in academia, the private sector, and government—who represent a wide diversity of professional perspectives on the Russian economy. The reports thus reflect a broad range of opinions on the challenges and opportunities before Russia. The views and conclusions in these reports are those of their authors, not those of the Joint Economic Committee or any of its individual members. I hope that these reports will contribute to our ongoing efforts to understand the Russian economy. I thank the Congressional Research Service for its efforts and the authors for sharing their expertise.

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  • Russia's Uncertain Economic Future (CRS)

    Russia’s economy has rebounded significantly since the crisis of 1998. Economic growth has resumed, unemployment has fallen, and production, consumption, and investment have all expanded. At the same time, Russia has initiated a series of promising economic reforms, including strengthening its banking system and enacting fundamental tax reform. These improvements illustrate Russia’s potential for a strong economic future. At the same time, memories of past economic difficulties demonstrate the risks that Russia faces if its reforms do not succeed. Russia’s economic future is of great importance to the United States. To assist American citizens and policymakers in thinking about that future, I asked the Congressional Research Service to commission a collection of expert reports on the Russian economy. The resulting reports review the recent history of the Russian economy, analyze current policy issues, and consider possible futures. The reports were prepared by experts—in academia, the private sector, and government—who represent a wide diversity of professional perspectives on the Russian economy. The reports thus reflect a broad range of opinions on the challenges and opportunities before Russia. The views and conclusions in these reports are those of their authors, not those of the Joint Economic Committee or any of its individual members. I hope that these reports will contribute to our ongoing efforts to understand the Russian economy. I thank the Congressional Research Service for its efforts and the authors for sharing their expertise.RussiaEconomy1.pdf (2.6 MBs)