Russia’s Post-Stabilisation Decline, Crash and Revival (original) (raw)

This paper explores the economic transformation of Russia post-stabilization, focusing on the factors leading to the decline, crash, and subsequent revival of its industrial sector. It discusses how the collapse of the rouble, although initially detrimental, eventually freed domestic industries from an uncompetitive exchange rate, leading to a resurgence in industrial production. The analysis includes a critique of the pre-crash economic policies, highlighting the issues of corruption, fiscal deficits, and the 'Dutch Disease' phenomenon, alongside the complex interplay between the mineral and manufacturing sectors.