We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Russian Economic Growth since 1998 - Essay Example

Comments (0) Cite this document
The largest country in the world, The Russian Federation has received its share of criticism over the past few hundred years; from the days of the land hungry monarchs to the Revolution of 1917, right up until the 1990's when the Soviet Union broke and laid Russia and its counterparts bare to the scrutiny of the Western world…
Download full paper
Russian Economic Growth since 1998
Read TextPreview

Extract of sample
"Russian Economic Growth since 1998"

Download file to see previous pages The answer depends on the interpretation of data provided mostly by the World Bank.
The 1998 financial crisis spread throughout the Asian continent and was described by economist Richard Cooper as "the rapid outflow of funds akin to a deposit run on a bank"1. Money just seemed to seep out of countries like Russia who in previous years had been so economically powerful, and the government scrabbled desperately to regain a foothold on world economics. The assumption has been made that following this initial year of economic distress, The Russian Federation has succeeded in turning itself around and making basic social services available to its citizens while eradicating a large portion of past poverty. Poverty, deprivation and social exclusion are purported to be a thing of the past; how accurate is this depiction of modern Russia
Most research shows a slightly different reality than this ideology suggests, and despite the wishes of the state to be classified as economically sound its leaders have been constantly struggling with the administration of such a massive country. In fact it seems that while The Russian Federation has successfully pulled itself out of a massive financial slump in terms of world economy, a great number of its people are still struggling to meet their basic needs. Things like health care, education, and access to unemployment benefits have no real constancy throughout the country and because of this social exclusion is not only being supported but encouraged.
After the dissolution of the Soviet Union, The Russian Federation faced incredible difficulties not only in securing foreign trade agreements but in catering to the needs of its millions of diverse people spread over eleven time zones. Dissolution having exposed the former Soviet Union as an incredibly fragile economy, the 1990's saw the swift and steady decline of the Russian economy as well as those of most former Soviet states. 1998 was the culmination of this degradation and the country's overall growth suitably expanded to 74% of the booming 1989 GDP by 20012; a success that convinced Western countries that Russia had regained its strength and capabilities from the Communist era. Kharas, Pinto and Ulatov note that the devaluation of the Russian ruble led to domestic inflation for which Russian people were not prepared3; federal borrowing meant that the government had to continue to sacrifice social services and put its people at further risk until internal revenues were restored.
De Blij and Muller cite the sheer size of The Russian Federation as the reason for most social imbalances within the state, explaining that forces of devolution and fundamental geographic differences have contributed not only to the economic crises but the subsequently frail social structure of the country; namely poverty. "After communist collapse, [Russia's] leaders faced a massive problem. A multinational, multicultural state that had been accustomed to authoritarian rule and government control over virtually everythingnow ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Russian Economic Growth since 1998 Essay Example | Topics and Well Written Essays - 2500 words”, n.d.)
Retrieved from https://studentshare.org/politics/1521973-russian-economic-growth-since-1998
(Russian Economic Growth since 1998 Essay Example | Topics and Well Written Essays - 2500 Words)
“Russian Economic Growth since 1998 Essay Example | Topics and Well Written Essays - 2500 Words”, n.d. https://studentshare.org/politics/1521973-russian-economic-growth-since-1998.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
China Economic Growth Since 1949
China Economic Growth Since 1949 Impressive economic achievements of the PRC are second largest in the world. Republic of china is the fastest growing economy having consistent growth rates of around 10% over the past 30 years. China is largest exporter and 2nd largest importer worldwide.
9 Pages(2250 words)Research Paper
Institutional Framework:FDI in russian Federation
Acknowledgements The author is especially grateful to (mentor/advisor’s name) for all the patience and guidance displayed for the duration of the this research. Abstract In the aftermath of the breakdown of Communist Europe, a majority of Central and Eastern Europe are currently characterized as transition states as they transition from socialist states to market-based economies (Centeno 1994, 125).
25 Pages(6250 words)Essay
Russian - Ukrainian relations since 1991
For most of the modern era and until 1991, Ukraine was under Moscow’s control. With the break-up of the Soviet Union near the end of 1991 and Ukraine’s emergence as an independent state, the Ukrainian-Russian relationship has been tense and even hostile for much of the 1990s.
40 Pages(10000 words)Essay
What were the main features of Russian economic backwardness
The backwardness model details a theory of economic growth advanced by Alexander Gerschenkron. The model hypothesizes that the more backward an economy is at the beginning of economic development the more probable is that certain conditions are likely to manifest.
5 Pages(1250 words)Essay
Economic Growth in Russia after the Collapse of the Soviet Union
The states formed economic integrations, depending on geographic proximity, history and cultural characteristics. Russia made it alone, starting political reforms from a communist state to an independent democracy with the president elected through popular election. Boris Yeltsin was the first elected head of state.
9 Pages(2250 words)Essay
Russian Foreign Policy Master Essay
The new oil wealth is more effective for realising the foreign policy goals of the resurgent Russia. Qualitatively speaking, Russia no more is a defunct military super power but a rising energy super power. Undeniably, Russia has inherited much of the former Soviet Union's hard power including a powerful nuclear arsenal and a sophisticated army.
7 Pages(1750 words)Essay
Russian Economics
Also take positivist account of macroeconomic concepts like optimal economic growth, full employment, price stability, civic action, and social justice. Why are Russian claims of just and prosperous futures far off the marks Use both positive and normative criteria.
9 Pages(2250 words)Essay
Russian Economy
As Russia is one of the world's top suppliers of oil, most economists attribute the growth to high oil prices, which remain at all-time highs (in 2006 crude oil stood at $79 per barrel, up from $51 in 2005). In contrast, in 1998, oil prices were at an all-time low at $10 per barrel.
6 Pages(1500 words)Essay
Case Study-The Russian Ruble Crisis and Its Aftermath
The four questions answered in this paper provide insight into the economic situation of Russia in the 1990’s and its subsequent recovery in the 21st century. In
4 Pages(1000 words)Essay
Russian 20th Century History Post WWII
More so, the economy had been devastated as the capital resources were destroyed and both industrial and agricultural outputs decreased tremendously. In Soviet Union, like in Russia,
4 Pages(1000 words)Essay
Let us find you another Essay on topic Russian Economic Growth since 1998 for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us