Russia, on the Way to Economic Prosperity

Abstract

Is Russia on the way to economic prosperity? So far, the answer is yes—although the abrupt economic transition has entailed several business downturns—the nation has experienced fast long-term growth over the last two decades since it escaped from the transition turbulence of 1998. The annual average growth rate of Russian GDP per capita after 1998 amounts to 3.92%, significantly higher than 1.65%, the world economy’s average growth rate over the same period.