Russian Path Dependence

A People with a Troubled History

Business & Finance, Economics, International Economics
Cover of the book Russian Path Dependence by Stefan Hedlund, Taylor and Francis
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Author: Stefan Hedlund ISBN: 9781134259175
Publisher: Taylor and Francis Publication: January 23, 2005
Imprint: Routledge Language: English
Author: Stefan Hedlund
ISBN: 9781134259175
Publisher: Taylor and Francis
Publication: January 23, 2005
Imprint: Routledge
Language: English

Russia's transition to a market economy has been tortuous to say the least. However, this book argues that the arguments and counter-arguments that pitch shock therapy against gradualism are wide of the mark and quite pointless.
Indeed, the reasons for the warped outcomes can actually be traced back through the long sweep of Russian history. Decisions made in the distant past can fully influence policy- making in the present. Hedlund's thesis can, like this, be seen as influenced by the 'path dependency' theories of Paul David among others.

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Russia's transition to a market economy has been tortuous to say the least. However, this book argues that the arguments and counter-arguments that pitch shock therapy against gradualism are wide of the mark and quite pointless.
Indeed, the reasons for the warped outcomes can actually be traced back through the long sweep of Russian history. Decisions made in the distant past can fully influence policy- making in the present. Hedlund's thesis can, like this, be seen as influenced by the 'path dependency' theories of Paul David among others.

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