Description: Please refer to the section BELOW (and NOT ABOVE) this line for the product details - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Title:Bear Traps On Russia's Road To ModernizationISBN13:9780415662765ISBN10:0415662761Author:Gaddy, Clifford G. (Author), Ickes, Barry (Author)Description:Bear Traps Examines Russia's Longer Term Economic Growth Prospects It Argues That Russia's Growth Challenges Are Conventionally Misdiagnosed And Examines The Reasons Why: A Spatial Misallocation That Imposes Excess Costs On Production And Investment; Distortions To Human Capital; An Excessively High Relative Price Of Investment That Serves As A Tax On Physical Capital Accumulation; And An Economic Mechanism That Inhibits Adjustments That Would Correct The Misallocation Bear Traps Explains Why Soviet Legacies Still Constrain Economic Growth And Outlines A Feasible Policy Path That Could Remove These Obstacles The Most Popular Proposals For Russian Economic Reform Today -- Diversification, Innovation, Modernization -- Are Misguided They Are Based On A Faulty Diagnosis Of The Country's Ills, Because They Ignore A Simple Reality: Russia's Capital, Both Physical And Human, Is Systematically Overvalued, Owing To A Failure To Account For The Handicap Imposed By Geography And Location Part Of The Handicap Is An Unavoidable Consequence Of Russia's Size And Cold Climate But Another Part Is Self-Inflicted Soviet Policies Placed Far Too Much Economic Activity In Cold, Remote Locations Specific Institutions In Today's Russia, Notably Its Federalist Structure, Help Preserve The Soviet Spatial Legacy As A Result, Capital Remains Handicapped Investments Made To Compensate For The Handicaps Of Cold And Distance Should Properly Be Treated As Costs Instead, They Are Considered Net Additions To Capital When Returns To What Appear To Be Large Quantities Of Physical And Human Capital Fail To Satisfy Expectations, The Blame Naturally Goes To Poor Institutions, Corruption, Backward Technology, And So On Policy Proceeds Along The Wrong Path, With Costly Programs That Can End Up Doing More Damage Than Good The Authors Insist That The Goal Should Be To Seek To Remove The Handicaps Rather Than To Spend To Compensate For Them They Discuss How Russia Could Develop A Modernization Program That Would Let The Nation Finally Focus On Its Economic Advantages, Not Its Handicaps Binding:Paperback, PaperbackPublisher:RoutledgePublication Date:2013-05-03Weight:0.39 lbsDimensions:0.4'' H x 8.2'' L x 5.3'' WNumber of Pages:130Language:English
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End Time: 2024-11-26T11:16:13.000Z
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Book Title: Bear Traps On Russia's Road To Modernization
Number of Pages: 134 Pages
Language: English
Publication Name: Bear Traps on Russia's Road to Modernization
Publisher: Routledge
Publication Year: 2013
Subject: Industries / General, Economic Conditions, General, Development / Economic Development, Economics / General, Public Policy / Economic Policy, Economics / Comparative
Item Height: 0.3 in
Item Weight: 6.4 Oz
Type: Textbook
Subject Area: Business & Economics, Political Science
Author: Barry Ickes, Clifford G. Gaddy
Item Length: 8.5 in
Item Width: 5.4 in
Format: Trade Paperback
