Globalisation in Russia: The challenge of the transition to the world economy

Micha K.

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Globalisation in Russia: The challenge of the transition to the world economy

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Lecture
Résumé
Sommaire
Extraits

Résumé du document

Fifteen years ago, the Soviet Union was a socialist authoritative country, tightly isolated from capitalist countries. Nowadays, its direct heir, Russia, is one of the quickest growing markets of the world that is strongly open on the global economy. During the 1990s, Russia underwent an extraordinary transformation from a communist dictatorship to a multi-party democracy, from a centrally planned system to a market economy, and from a belligerent enemy of the West to a cooperative partner. This change was as unexpected as exceptional. Two decades ago, only an idealist would have imagined that the "evil empire" could transform so quickly and peacefully into a democratic and capitalist ally of the West. The unprecedented nature of this switch raises the question of the role of globalization in the Russian transition to market economy. The process of globalization can be understood as the interplay of technological, economic, and political changes, leading to new patterns of trade and investment in the world. As the British-born sociologist Michael Mann puts it, "the term of globalization, refers to the extension of social and economic relations over the globe".

Sommaire

From transition to crisis: the difficult adaptation to the global economy
1. The evolution of Russian economy in the 1990s
2. The 1998 financial crisis and the ambiguous role of the IMF: how globalisation failed in Russia
3. Globalisation's costs
The post-crisis growth : how globalisation is building Russian power
1. Russia's economic transformation
2. Moscow, the birth of a global city
3. Russian success in the world economy
Current Russian ambiguities as regards globalisation
1. From WTO to Gazprom monopoly : Russia's contradictory globalization path
2. Russian inclination to anti-globalisation populism
3. The shadow of Russian globalisation fears

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Extraits

[...] The concept of transition intends the passing from a situation singular balance– to another. It is an intermediate situation, a transitory state. There would be thus market economy, only one model which it would be possible to reach quickly. The Russian experiment of the 90ies shows that while wanting to go from a point A (Soviet economy) to a point B (an idealized market economy), Russia reached another balance, a point C degraded market economy). For all these reasons it is preferable to speak about a process of transformation rather than about transition. [...]

[...] In this extend, the transition towards the market economy was probably a necessity. Nevertheless, it was not inescapable that this transition occurs since 1987. The economic system had adapted to run durably in managed economy, with its parallel incentives and its markets. Many authoritative regimes live through the stagnation of their economy, Cuba or North Korea for example. Of course, the population did not trust in nomenklatura any more, but was, in its great majority, still supporting the Soviet system itself, which remained associated with social rights and the national power on the international scene. [...]

[...] The current oil bonanza also slows down economic reform. Worse, the government meddles increasingly in the economy, taking stakes in so-called “strategic industries” and treats badly foreign investors in the oil industry. The state-owned world's biggest gas company Gazprom is more and more used as a political tool to pressurize neighbours and the EU. In December 2006 Gazprom agreed to a long-term supply contract with the French supplier Gaz de France in exchange for the right to sell Russian natural gas directly to consumers in France. [...]

[...] The 1998 crisis revealed however that the country was far from a successful change to the market economy. The absence of a real industrial reorganization and the strong dependence towards oil were severely sanctioned. This crisis caused a shock-wave through financial markets and showed how difficult the transition to the world economy was difficult for an ex-socialist country. After the government's statement of August 1998, Russia underwent several weeks of chaos. Bank bankruptcies ruined many savers. Wages were not paid any more, some regions sat up internal frontier checks to keep cereals from leaving their territory. [...]

[...] What relationship has Russia today with global economy? These are the main issues of this study. After sixty years of self-sustaining socialism, the Russian entry to this global phenomenon was doubtlessly difficult. The post communist transition transformed not only the country's economic and political systems but also the state-society articulation at large. If the disappointing economic results of the first decade of transformation are often understood as results of Russia's opening in the context of globalisation, it also seems that it is globalisation itself which enabled the Russian recent growth. [...]

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