Russia's Virtual Economy

Russia's Virtual Economy
Author :
Publisher : Brookings Institution Press
Total Pages : 322
Release :
ISBN-10 : 0815731116
ISBN-13 : 9780815731115
Rating : 4/5 (115 Downloads)

Book Synopsis Russia's Virtual Economy by : Clifford G. Gaddy

Download or read book Russia's Virtual Economy written by Clifford G. Gaddy and published by Brookings Institution Press. This book was released on 2002 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Clifford Gaddy's and Barry Ickes' thesis-- that Russia's economy is based on illusion or pretense about nearly every important economic yardstick, including prices, sales, wages and budgets-- has forced broad recognition of the inadequacies of the intended market reform policies in Russia and provided a coherent framework for understanding how and why so much of Russia's economy has resisted reform.


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The Russian Economy has evolved into a hybrid form, a partially monetized quasi-market system that has been called the virtual economy. In the virtual economy,