, Volume 34, Issue 3, pp 144–151 | Cite as

Overcoming the Russian transformation crisis

  • Paul J. J. Welfens


Russia's attempts at transformation into a market economy have so far resulted in a prolonged and steep economic decline. This is in stark contrast to developments in other formerly socialist countries where an initial period of economic decline was followed by strong growth. What are the reasons behind the adverse development of the Russian economy? What policy changes are required to bring Russia stability, growth and prosperity?


Foreign Direct Investment Central Bank Foreign Direct Investment Inflow Foreign Debt World Market Price 


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Copyright information

© HWWA and Springer-Verlag 1999

Authors and Affiliations

  • Paul J. J. Welfens
    • 1
  1. 1.European Institute for International Economic Relations at Potsdam UniversityPotsdamGermany

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