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Russia' Economic Transition - Research Paper

Russia' Economic Transition


In August of 1991, the collapse of the communist system in the USSR and
it's neighboring republics occurred. Out of the smoke emerged fifteen new
republics and a union known as the Commonwealth of Independent States. These new
regimes faced formidable obstacles. The collapse brought massive inflation which
in turn forced the economy into a spiraling decline and a state of almost
worthless value. Many people were quick to point the finger at their communist
past, and even more eager to lay blame. Traditional communist ideology was to
"provide for every individual an equal amount of goods and services, thus
creating a state of equality amongst the populous" (Leveler, 16). Many people
felt ...

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another, would be used
for the extraction of raw materials. These materials would then be shipped back
to the capital in order to be manufactured into goods. From there, the
manufactured products would be shipped back to the surrounding regions
(periphery region) for resale. The citizens of Russia were surviving on this
system, but barely. The Core-Periphery policy was not efficient, nor effective,
for usually a product needed on one side of the federation, was produced at the
other end. Factors such as transportation costs and adequate use of human
resources was very inefficient and cost-consuming. Strong influences from the
world urged Russia to make the transition into the market-oriented economy. This
seemed tempting, for the market-oriented economy preached individual wealth and
prosperity. Seeing no better solution to their current economic woes, Russian
policy-makers took the plunge.

By 1995, 4 years since the beginning of the transition into a market-
oriented economy, no ...

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many of the
republics this did not actually take place. In 1995, all but 2 of the 15
countries saw their net exports per capita fall drastically. Lithuania, once
with a net export per capita rating of 49.2, was experiencing one of -54.1 in
1995 (Table 1). On average the citizens now had less than before.

Many countries began to realize that they were in many ways still
dependent on so-called "mother Russia". The past Core-Periphery policy had made
them heavily rely on internal domestic trade. Being nothing more than satellite
states in the centrally planned economy, these countries were traditionally used
for the extraction of materials or the production of a singular industry. ...

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"Russia' Economic Transition." Essayworld.com. March 23, 2008. Accessed March 29, 2024. http://www.essayworld.com/essays/Russia-Economic-Transition/80961.
"Russia' Economic Transition." Essayworld.com. March 23, 2008. Accessed March 29, 2024. http://www.essayworld.com/essays/Russia-Economic-Transition/80961.
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PAPER DETAILS
Added: 3/23/2008 04:52:28 AM
Category: Economics
Type: Premium Paper
Words: 2425
Pages: 9

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