The COMING RUSSIAN BOOM

By Richard Layard, John Parker

1996

First Published

2.00

Average Rating

400

Number of Pages

12H09M

Audio Length

Since the fall of the Soviet empire in 1991, Westerners have been speculating about the future of its vast and long-oppressive economy. Politicians, economists, and businesspeople alike have watched with great interest as the new Russia has scrambled to get on its feet. As support for the communists has waned and waxed, Westerners have worried: Are Russia's troubles merely the growth pains of a rich new market waiting to take off? Or should businessmen and tourists stay away? The bottom line, argue Richard Layard and John Parker, is a healthy and strong one. Democracy and free markets have taken root in Russia for good. The authors offer a soup-to-nuts analysis of the Russian economy, along with its political and social underpinnings, to demonstrate just how successful the reforms have been and what they mean for Western businessmen. Layard and Parker argue that Russia has passed the crucial point of dependency on Boris Yeltsin; it has built a successful multiparty democracy; and it has passed through the worst of the economic aftershocks of communism. Inflation is finally under control, and with the growing success of privatization, many opportunities have emerged for both Russians and foreigners. Political shifts notwithstanding, Layard and Parker foresee a bright future for Russia, graced by strong economic growth, based on private enterprise. They argue that Russia's economy will grow faster over the next twenty years than most emerging markets, and that foreigners will reap good returns from investing in its markets and its amazing natural resources. The Coming Russian Boom introduces Westerners to a Russia that is far healthier and more promising than the one they have read about in the papers, and shows how the greatest political-economic challenge of the post-Cold War world has become a resounding and exemplary triumph. It offers specific suggestions and guidelines for entrepreneurs, investors, and analysts. And it uses underlying economic structure to illuminate the surface confusion that will always be Russia.

Avg Rating

2.00

Number of Ratings

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Authors

Richard Layard

Author · 6 books

Peter Richard Grenville Layard, Baron Layard FBA, is a British labour economist, currently working as programme director of the Centre for Economic Performance at the London School of Economics. His early career focused on how to reduce unemployment and inequality. He was Senior Research Officer for the famous Robbins Committee on Higher Education. This committee's report led to the massive expansion of UK university education in the 1960s and 1970s. Following research on happiness begun in the 1970s by economists such as Richard Easterlin at the University of Southern California, he has written about the economics of happiness, with one theme being the importance of non-income variables on aggregate happiness, including mental health. His main current interest is how better mental health could improve our social and economic life. His work on mental health, including publishing The Depression Report in 2006, led to the establishment of the Improving Access to Psychological Therapies (IAPT) programme in England. He is co-editor of the World Happiness Report, with John F. Helliwell and Jeffrey Sachs.

John Parker

Author · 2 books

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