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Case
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Reference no. 9-795-089
Authors: Alexander Dyck
Published by: Harvard Business Publishing
Originally published in: 1995
Version: 2 April 1996

Abstract

Describes Russia''s transition from a centrally planned economy under Communist rule to an increasingly market-oriented economy under a more democratic political regime. Can be used to discuss the complementarity of elements of an economic strategy, and the optimal sequencing of political and economic reforms. The first section provides a brief synopsis of Gorbachev''s reform strategy and the political and economic chaos following from partial implementation of relatively weak economic and political reforms. The second section describes Yeltsin''s radical reform strategy of 1992 to simultaneously achieve macroeconomic stabilization, price reform and privatization. Attention is drawn to the partial implementation of this program and the political and economic obstacles hindering progress. Concludes by asking whether Yeltsin''s attempts to consolidate power through new elections and constitutional reform will be successful.

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Abstract

Describes Russia''s transition from a centrally planned economy under Communist rule to an increasingly market-oriented economy under a more democratic political regime. Can be used to discuss the complementarity of elements of an economic strategy, and the optimal sequencing of political and economic reforms. The first section provides a brief synopsis of Gorbachev''s reform strategy and the political and economic chaos following from partial implementation of relatively weak economic and political reforms. The second section describes Yeltsin''s radical reform strategy of 1992 to simultaneously achieve macroeconomic stabilization, price reform and privatization. Attention is drawn to the partial implementation of this program and the political and economic obstacles hindering progress. Concludes by asking whether Yeltsin''s attempts to consolidate power through new elections and constitutional reform will be successful.

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