Economic reforms in Russia: A new French look (On the book by J. Vercueil “L’Economie politique de la Russie: 1918—2018”)

Abstract

The Russian economy and its modern transformations are of great interest to French researchers. The economic history of Russia has become the subject of analysis of the book by J. Vercueil “Political economy of Russia: 1918—2018”. In it, from the standpoint of modern French regulationism (a type of institutionalism ), questions of economic reforms in Russia and their evolution over the past 30 years are considered. The article analyzes three basic concepts of the French author, defining the modern Russian economic system: (1) “Russian disease” as a kind of Dutch disease; (2) rental mode of accumulation; (3) the “Gazprom” way of regulating the economy. In addition, the originality of the use of the term “political economy” is considered with reference to a specific country; Vercueil’s interpretation of the theory of “economics of shortage” by J. Kornai; the mechanism for resolving the problem of arrears in a transition economy, as well as the issues of classification and periodization of economic reforms, their pace and content. The role and place of economic advisers and the IMF in the course of Gaidar reforms are discussed. The article gives a critical analysis of the propositions and hypotheses put forward by the author.