The Fall Of Russia

As stated earlier, Russia’s economy is largely based on oil. Further, throughout Russia’s existence, its political institutions have strongly remained stable do to their performance legitimacy. Therefore, the rise of oil and therefore competitive authoritarianism are not mutually exclusive. Since Putin’s election, economic growth has averaged 6.7%, however, much of this growth is directly due to rising oil prices since 1998 that have topped over 100 dollars a barrel. Rising oil prices has allowed Russia to eradicate foreign debt, establish massive reserves of hard currency, and create budget surpluses. This has in turn allowed Putin to accumulate massive amounts of wealth as well as improving his performance legitimacy. Arguably, this is a false performance legitimacy. To many in Russia, this is the best the economy has ever been, and it has allowed for Putin to easily consolidate power. Yet, with oil on the decline, Russia has effectively created an economy that can not last into the near future, and only time will tell how far they will end up

One country is comparable to the United States of America in terms of world power and prominence. Russia makes their name known beginning in World War 2 (WW2), later in the Korean War, Cold War, and today’s proxy war in the Syria. Russia’s culture, environment, politics, military, and economy do not just make Russia a regional powerhouse, but slowly becoming a region of influential power to surrounding countries with the end state of a global superpower. All the factors that make Russia the powerhouse that it is slowly becoming, highlights the impressive trend that supersedes the previous Soviet Union and past leaders.

Russia’s economy is very complex and also very terrible at the same time. Many other economy’s are also like this but Russia’s is a very interesting thing to learn about. Russia’s economy has many things wrong with it that in the long run could probably affected it in a negative way. But it also has many positive things about it.The negatives and the positives are, in my opinion, are equal in Russia economy.

Tsar Nicholas II is thought to be personally responsible for the collapse of the Russian Monarchy. His nature wasn’t well suited for the role he held therefore he was an incompetent leader. Russia was undergoing many changes and was in early stages of industrialization. This was followed by an embarrassing string of defeats of which the Tsar was badly prepared. His unsuccessful involvement in the First World War added to the disappointment in the government’s incompetence and corruption. There were many opportunities for Russia to modernize but this would require political change, which the Tsar was unwilling to do. Nicholas had many opportunities throughout his reign to reform, but destroyed his last chance of survival.

Judging by these figures, Russia’s economy wasn’t too dreadful and seemed to be, if anything, improving.

Amid Russian Revolution years there is the chance to watch the Russian economy experiencing a few basic moves, including a portion of the most exceedingly bad things that can happen to a nation. There was war and civil war. The economy endured monetary breaking down, separation, and starvation. There was a breakdown of state limit: government prohibited Vodka.

The Russian state has been characterized by its strong heritage of powerful, autocratic leadership. This domination by small ruling elite has been seen throughout Russia's history and has transferred into its economic history. Throughout the Russian czarist period, to the legacy of seventy years of communism; Russia has been a country marked by strong central state planning, a strict command economy and an overall weak market infrastructure (Goldman, 2003). Self-interest, manipulation and corruption have all been present in the Russian economy, and have greatly helped the few as opposed to the many. To this day, Russia still struggles with creating a competitive and fair market.

111 people control 19% of all household wealth in Russia (Breslow, 2015). The centrally planned economy realigned to a capitalist order based on markets, private property and free enterprise. The ‘oligarchs’ or known as Russia’s richest 1%, own about 30% of the entire populations personal assets (Aven, 2013). A massive disparity in wealth that is purported to have held back Russia’s economic growth from its true potential (Aven,

For the next few months we may see a rise in the Russian Economy continue, but many economists believe this rise will be short-lived and should only be seen as a temporary trend. The scholars believe that the Russian population is steadily decreasing, and Russian businesses are seeing an inefficacy in their profit. Russian workers are beginning to grow frustrated with the sluggish production coming from the government. The Russian government is beginning to see that rise in oil prices already begin to diminish once again as workers in the Russian workers are beginning to go months without pay, and are beginning to lay down their tools and go on strike in conflict with the way Vladimir Putin has been handling international relations.

Many officials at the top of the Russian political ladder do not seem to think the economy in Russia is stable enough to last a moderate amount of time. The main reason many people think the Russian economy is in

Russia, officially known as the Russian Federation, has a total area of 17,098,242 sq km (“The World Factbook”) and is the largest country in the world. It is about 1.8 times the size of the United States (“The World Factbook”). Most of Russia is either large stretches of plains or areas with a lot of forests and mountains, with the exception of the Siberian Tundra. It is difficult to perfectly describe Russia’s climate because of it’s large size. However, in general, the country only has two seasons, summer and winter. In the summer they have very warm, continental weather and they have very harsh winters with a lot of snow. Russia is plentiful in natural resources. They are particularly

As previously mentioned, the key industries both in the country and coming from Canada are growing, as is the desire for continual cooperation among the countries. Businesses within such sectors need or will need efficient and cost-effective corporate banking to operate effectively. Today’s Russia boasts Nominal GDP of $1.850 Trillion (2011). GDP by sector is 4.5% in Agriculture, 36.9% in Industry, and 58.6% in Services (2011), and overall GDP growth of 4.3% (2011). Also, Canadian direct investment in Russia reached $538 million CAD (2011), and according to Canadian estimates, total CDN accumulated investments in Russia amount to 1.5 billion.

The period 1995 to mid-1997 was boom time for Russia’s financial markets. The value of the Russian bonds and stocks soared, with the participation of foreigners in these asset markets increasing rapidly. International investors’ optimism about the country’s future was lifted by stabilization policy that followed the advice of Western institutions.

Real disposable income in Russia has been declining dramatically year-after-year since 2014; when Russia was given many sanctions from international business in the West. The 9.3 percent fall in reference to

Russia is a country in Northern Eurasia, bordered by the Arctic Ocean, and numerous countries such as China, Mongolia, and Georgia. The total area of Russia is 17,098,242 square kilometers (CIA.gov), making it the largest country in the world. The terrain of the country is “broad plain with low hills west of Urals; vast coniferous forest and tundra in Siberia; uplands and mountains along southern border regions” (CIA.gov) with a climate that ranges from humid and warm places to extremely frigid regions varying on its location. Russia is a federation