Description: Bear Traps on Russia's Road to Modernization by Barry Ickes, Clifford Gaddy Estimated delivery 3-12 business days Format Hardcover Condition Brand New Description If sustainable growth is a key goal for the economy of every nation, its desirability is perhaps even more acute in Russia. Even President Medvedev argues that the countrys heavy reliance on natural resources makes it primitive and uncompetitive, calling for innovation and diversification. But the authors of this provocative new book argue that this modernization may not be the best thing for Russia. Two factors present major obstacles: first, the countrys physical and human capital was inherited in the Soviet era and was allocated geographically in a way that was not conducive to development; second, there has been uneven allocation of the proceeds coming from oil and gas. Russia has two particular characteristics - space and cold - that lead to misallocation of resources but if physical geography is immutable, economic geography need not be. Having analyzed the particular tenets of the economy that restrict sustainable growth, the authors argue that Russia should take advantage of its resources but move non-resource industries into regions that are closer to the market. Publisher Description Bear Traps examines Russias longer term economic growth prospects. It argues that Russias 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 countrys ills, because they ignore a simple reality: Russias 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 Russias 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 todays 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. Author Biography Clifford G. Gaddy is Senior Fellow, Foreign Policy, Global Economy and Development in the Center on the United States and Europe at the Brookings Institution, USA.Barry Ickes is Professor in the Department of Economics at Pennsylvania State University, USA. Details ISBN 0415662753 ISBN-13 9780415662758 Title Bear Traps on Russia's Road to Modernization Author Barry Ickes, Clifford Gaddy Format Hardcover Year 2013 Pages 142 Publisher Taylor & Francis Ltd GE_Item_ID:77066191; About Us Grand Eagle Retail is the ideal place for all your shopping needs! With fast shipping, low prices, friendly service and over 1,000,000 in stock items - you're bound to find what you want, at a price you'll love! Shipping & Delivery Times Shipping is FREE to any address in USA. Please view eBay estimated delivery times at the top of the listing. Deliveries are made by either USPS or Courier. We are unable to deliver faster than stated. International deliveries will take 1-6 weeks. NOTE: We are unable to offer combined shipping for multiple items purchased. This is because our items are shipped from different locations. 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Price: 163.19 USD
Location: Fairfield, Ohio
End Time: 2024-12-08T09:45:05.000Z
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Restocking Fee: No
Return shipping will be paid by: Buyer
All returns accepted: Returns Accepted
Item must be returned within: 30 Days
Refund will be given as: Money Back
ISBN-13: 9780415662758
Book Title: Bear Traps on Russia's Road to Modernization
Number of Pages: 144 Pages
Language: English
Publication Name: Bear Traps on Russia's Road to Modernization
Publisher: Routledge
Item Height: 0.9 in
Subject: Industries / General, Development / Economic Development, General, Economic Conditions, Economics / General, Public Policy / Economic Policy, Economics / Comparative
Publication Year: 2013
Type: Textbook
Item Weight: 10.4 Oz
Subject Area: Political Science, Social Science, Business & Economics
Item Length: 5.3 in
Author: Barry Ickes, Clifford G. Gaddy
Item Width: 8.5 in
Format: Hardcover
