Globalization and Post-Soviet Capitalism: Internalizing Neoliberalism in Russia

  • Anastasia Nesvetailova
Part of the International Political Economy Series book series (IPES)


Since its re-emergence as a sovereign state in 1991, Russia has been pursuing economic and political restructuring strategies. These processes have been strongly intertwined with changes at the global level. Like in many other countries across the globe, the ideology of market-driven globalization and a minimalist state predetermined Russia’s choice of a reform path. This chapter examines the role of such a decision for Russia’s attempts to build capitalism. It aims to provide an explanation for some of the key problems encountered by the country in the process of economic liberalization and reforming the state, and to outline a transformation of Russia’s neoliberal project. Specifically, this chapter suggests that the numerous crises during the 1990s have discredited the model of disembedded laissez-faire liberalism adopted by the Yeltsin regime. The early years of the millennium have witnessed a reformulation of the neoliberal agenda in Russia. Under Putin, the Russian state is seeking to re-establish its centrality in setting the trajectory of the country’s neoliberal agenda. One of the greatest challenges to this process is the political legacy of oligarchic groupings and the deeply entrenched social polarization brought about by the Yeltsin era of laissez-faire restructuring.


Commercial Bank Economic Restructuring Russian State Washington Consensus Debt Repayment 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Further reading

  1. Clarke, S. (1992) ‘Privatisation and the Transition to Capitalism in Russia’, New Left Review, 196, November/December, 3–28.Google Scholar
  2. Derluguian, G. (2001) ‘Recasting Russia’, New Left Review, No.2, November/December, 23–42.Google Scholar
  3. Job, S. (2001) ‘Globalising Russia? The neoliberal/nationalist two-step and the Russification of the West’, Third World Quarterly, 22(6), 139–54.CrossRefGoogle Scholar
  4. Robinson, N. (1998) ‘The global economy, reform and crisis in Russia’, Review of International Political Economy, 6(4), 198–219.Google Scholar

Useful websites

  1. <> The World Bank Russia Country Office
  2. <> Johnson’s Russia List
  3. <> The Polity Foundation
  4. <> Gateway to Russia

Copyright information

© Anastasia Nesvetailova 2005

Authors and Affiliations

  • Anastasia Nesvetailova

There are no affiliations available

Personalised recommendations