GDP per capita in the USSR 1950-1961

GDP per capita in the USSR 1961-1971

Attempts at transition and the fall of the Soviet Union

Comparisons between Russia and other countries that also underwent transitions slide

Cumulative depth of transitional output decline

The economic recovery

A conclusion on transition

Investments

General Government Balance

General Government Revenue

Government expenditure

Loans to federal government

Federal Government Debt Payments

Inflation

Monopoly Tariffs Increase

Transfers form Private Sector to Monopoly Sector

The two subsectors of the non-market sector

Ruble Real Effective Exchange Rates

Non-Trivial Regularities and its Relation to Ecomic Growth

Planned economies versus market economies

Russia's choice of economic policy after the transition

Conclusions

You left China out of your examples. What do you think of ther liberalization process? Stiglitz argues that Russia's transition was too radical; theyn didn't allow institutions to consolidate, so their market economy was prostituted by the mafias that took control. China has undergone a slower process, allowing insititutions to form. What isn your opinion on this?

slide in Russian

slide comparison between China and India

slide GDP per capita China and India

slide government expenditures per capita China and India

Could you give us some comments regarding privatization? How have you strengthened private property in Russia?

When you showed the slide relating investments to GDP, what percentage of that investment is foreign and what percentage is domestic? Do youn think that making the Russian market more accessible to direct foreign investment will make the economy grow faster? I understand it's currently difficult for foreign investment to enter then Russian market.

What is your opinion on the involvement of the World Bank and the IMF in Russia's economy?

What portion of the oil industry in Russia is owned by the State?

From the countries in the region that underwent the transition under similar circumstances to Russia, which one does Russia look at as an benchmark of success? What is Russia doing to revert the effects of the disorderly transition?