Economic Crisis

    • Carnegie.ru Commentary

    Why the Russian Government Can’t Attain Economic Growth

    The obstacles hindering growth are well known, and it would seem that the government has every opportunity to tackle these problems. It could easily resist lobbying by state capitalists: both the law and regulations would allow that. Instead of embarking on a path of empowerment, however, the government has turned into a place of ceremonial meetings for people with influential positions who are manipulated by officials from the presidential administration and by state capitalists.

    • Carnegie.ru Commentary

    Playing the Long Game: United States Targets Russia’s Sovereign Debt

    Financial sanctions that limit Russia’s borrowing are for now ineffective, as Russia currently has three surpluses: in the federal budget, balance of trade, and current account. The Russian state and most Russian business (at least the kind of business that could in theory raise investment abroad) simply don’t need major credit lines.

    • Carnegie.ru Commentary

    Trading Dollars for Yuan: How Wise Is Russia’s Reserves Management?

    The greatest risk, which will grow together with funds and reserves, is that of the open or creeping politicization of investment. In other words, the state will choose to invest in “friendly” but unstable currencies, as well as to extend loans to even “friendlier” states and companies. Experience of past crises should make the responsible government agencies stay well away from such initiatives—as far as it’s politically possible.

    • Carnegie.ru Commentary

    Putin’s Courtiers: How Sanctions Have Changed Russia’s Economic Policy

    Sanctions have thrust Vladimir Putin’s inner circle into the public domain. In response, the state has lent sanctioned individuals a helping hand. While previously, they would get individual government contracts, the lucky few are now setting their sights on entire industries via the mechanism of public-private partnerships. The president sees state capitalists as patriotic businesspeople, and they realize that sanctions have made Russia the only place where they can make money.

    • Carnegie.ru Commentary

    Digital Monopolies: Dividing the Big Data Pie in Russia

    Companies close to the Kremlin are creating a monopoly on data in Russia. Although the data market has yet to take shape, it has already been turned into a monopoly by the president’s decisions. Competition takes a back seat to matters of national importance.

    • Op-Ed

    Putin’s Botched Pension Reform

    Russia’s crony-capitalist economic model requires an ever-increasing volume of funds to be burned on lavish mega-projects that generate huge profits for a dozen families close to the Kremlin. Now it seems to be pensioners’ turn to make the sacrifices needed to finance the appetites of Russia’s new aristocracy.

    • Op-Ed

    New Sanctions Won’t Hurt Russia

    Washington thinks punitive measures will change Moscow’s calculus, but the Russian economy is doing just fine.

    • Event

    Russian Economic Challenge 2018

    On September 19-20, 2018, the Carnegie Moscow Center held its third annual Russian Economic Challenge conference, organized by the Carnegie Moscow Center in partnership with the Moscow School of Management SKOLKOVO.

    • Carnegie.ru Commentary

    Russia’s New Agenda: Choosing Between Two Versions of State Capitalism

    In an economic system that wasn’t so focused on solving government problems or fulfilling the “public agenda,” the state wouldn’t have to find ways of extracting funds from business to spend on social programs.

    • Carnegie.ru Commentary

    “No Trust”: What Russians Think About the Pension Reform Plan

    The government’s pension reform plan has shocked the majority of Russians, who, in focus group discussions, expressed confusion, fear, and frustration with the government, including President Vladimir Putin himself. Russians expect the proposed measures to pass. But they are also prepared to resist them in various ways, and they want concessions and guarantees of employment and healthcare, especially for society’s most vulnerable members.

Carnegie Experts on
Economic Crisis

  • expert thumbnail - Baunov
    Alexander Baunov
    Senior Fellow
    Editor in Chief of Carnegie.ru
    Moscow Center
    Baunov is a senior fellow at the Carnegie Moscow Center and editor in chief of Carnegie.ru.
  • expert thumbnail - Gabuev
    Alexander Gabuev
    Senior Fellow and Chair
    Russia in the Asia-Pacific Program
    Moscow Center
    Gabuev is a senior fellow and the chair of the Russia in the Asia-Pacific Program at the Carnegie Moscow Center.
  • expert thumbnail - Kolesnikov
    Andrei Kolesnikov
    Senior Fellow and Chair
    Russian Domestic Politics and Political Institutions Program
    Moscow Center
    Kolesnikov is a senior fellow and the chair of the Russian Domestic Politics and Political Institutions Program at the Carnegie Moscow Center.
  • expert thumbnail - Movchan
    Andrey Movchan
    Nonresident Scholar
    Economic Policy Program
    Moscow Center
    Movchan is a nonresident scholar in the Economic Policy Program at the Carnegie Moscow Center.
  • expert thumbnail - Samorukov
    Maxim Samorukov
    Deputy Editor of Carnegie.ru
    Moscow Center
    Samorukov is deputy editor of Carnegie.ru.

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