Clifford Gaddy's and Barry Ickes's paradigm of the "virtual economy" has forced broad recognition of the inadequacies of the intended market reform policies in Russia. Their thesis - that Russia's economy is based on illusion or pretence about nearly every important economic yardstick, including prices, sales, wages and budgets - also sought to provide a framework for understanding how and why so much of Russia's economy has resisted reform. Gaddy and Ickes now use the virtual economy concept to project the near- and middle-term future of the Russian economy and suggest possible policy responses. Drawing on new empirical material from published and unpublished sources and from their own field of work in Russia, the authors examine critical aspects of the virtual economy: manufacturing enterprises, households and the public sectors, both local and federal. They also integrate the financial and agricultural sectors into their model.
Author(s): Clifford G. Gaddy, Barry William Ickes
Year: 2002
Language: English
Pages: 306
0815731124......Page 1
Contents......Page 12
CHAPTER ONE Introduction......Page 16
CHAPTER TWO Illusion versus Reality......Page 28
CHAPTER THREE Roots of the Virtual Economy......Page 60
CHAPTER FOUR “Igor” in the Virtual Economy......Page 84
CHAPTER FIVE Evolution of the Virtual Economy......Page 117
CHAPTER SIX A Simple Accounting Exercise......Page 143
CHAPTER SEVEN Running Out of Value......Page 160
CHAPTER EIGHT The Virtual State......Page 186
CHAPTER NINE Mr. Putin’s Dilemma......Page 206
CHAPTER TEN What Is to Be Done?......Page 233
APPENDIX A An Example of Barter to Evade Taxes......Page 258
APPENDIX B Selected Data and Findings from the Karpov Commission Report......Page 262
APPENDIX C Further Comments on Value Destruction......Page 266
APPENDIX D The Director’s Decision Problem......Page 271
APPENDIX E An Evolutionary Model......Page 281
APPENDIX F Regions in r-d Space......Page 287
References......Page 296
G......Page 304
S......Page 305
Z......Page 306
Figures......Page 13
Boxes......Page 14
