Paper Summary:

This paper examines the economic restructuring that took place in Russia following the downfall of communism. The transition to a capitalistic system is investigated, with further discussion of the role of the country's leadership during this time. In particular, the paper views Boris Yeltsin as the key player in this change, further showing what he should have done to ensure that a market economy was successful in Russia. The paper concludes with a discussion on the reforms Putin has introduced as a result of Yeltsin's policies in order to stabilize the Russian economy today.

From the Paper:

"Yeltsin had claimed that his economic restructuring would cause six months of hardship. This was entirely unrealistic, and set the tone for much of the public and political resistance that followed. In retrospect, the transformation of the Russian economy has occurred very quickly, but at the time Yeltsin and his team had little understanding of how long it would take for their changes to take hold. This led to resistance. A sizeable number of politicians had been trained under the Communist system and neither understood nor trusted the capitalist system. Yeltsin neglected to deal with this obstacle effectively, which led to a series of crises that undermined support for his reforms."

Sample of Sources Used:

• Abdelal, Rawi. (2001). Russia: End of a Time of Troubles? Harvard Business School. 9-701--076
• Adbelal, Rawi & Thompson, Emily J. (2003). Russia: End of a Time of Troubles? Supplement. Harvard Business School. 9-703-053

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