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Essay / Research Paper Abstract
A 7 page paper discussing reasons that Russia has had such difficulty in changing from a centrally planned economy to a free market structure when there was so much hope for economic greatness early on. Many officials of the former communist government have become wealthy from corrupt practices over the years as they have relieved the Russian economy of billions of dollars that could have been used for economic development, and organized crime is active in a high percentage of Russian transactions. The government may be unable to do anything about those particular conditions for the time being, but it can follow a short-term course of increased privatization, restructuring and implementing the IMF=s suggestions in order to achieve stabilization so that it can undertake other reforms. Bibliography lists 10 sources.
Page Count:
7 pages (~225 words per page)
File: CC6_KSrussia.doc
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Unformatted sample text from the term paper:
Russias Economic Freefall Compiled by for , March, 1999 paper properly! Mikhail Gorbachev knew that
the USSR faced dire economic problems and set about to reform them, but he said in 1996 that he had insufficient power to reform the party and that he had
waited too long to begin to establish the market economy that most party members had agreed would be necessary to lift Russia from its sinking economic ship. He had
wanted to merge the best of communism with the advantages of the free market system, but the result was the collapse of both. Once the psychological safety net of communism
was gone, there was little to do but to encourage and aid the emergence of Russias free market economy. Great privatization schemes were planned, and Western corporate concerns swept
into the various new countries that had once comprised the USSR; Russia itself was of particular interest. Just the oil and natural gas attraction appeared to be enough to shore
up the economy and provide the vehicle by which the rest of the country would achieve free market status. Russia possesses no less than 5 percent of the worlds
known oil supply, along with 50 trillion cubic meters of natural gas, which equals one third of the worlds proven reserves (Anonymous, 1998). Many Russian energy firms, which were
hopelessly inefficient and short of capital, seemed in desperate need of foreign help. Russian oil production has fallen steeply since 1990" (Anonymous, 1998; p. 57). Britains The Economist reports that
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