Russia’s States & Markets

Among BRICS countries, Russia has been experiencing periods of economic stability and downturns of high magnitude and it is only next to Brazil in decreasing both economic complexity and steadily falling manufacturing exports. Moving towards political isolation, Russia has been building strategic alliances in the Middle East and Asian region, especially with China and India, while its commercial relations are dominated by the trade in commodities, which limits the possibilities for making new trade partnerships strategic. An
internal structural problem has been also reflected in the rise of social discontent during last few years.
The webinar focuses on industrial policy in Russia and discusses changes in economic structures and governance of industrial development and innovation. Focusing on industrial policy since late 1990s allows tracing socio-economic problems of de-industrialization, reduction of economic complexity and persistent dependency on natural resources. The webinar provides a macro-level view of industrial policies and key institutions while also framing the discussion within the narrative of ’national interest’ and geopolitical position Russia occupies today. Ultimately, domestic economic structures define Russia’s response to various shocks which intensified during last 30 years.

Suggested readings
Studin, Irvin. 2018. Russia: Strategy, Policy and Administration. Palgrave.
Reinert, Erik. 2010. Modernizing Russia: Round. Russia and the Other BRIC Coutries: Forging Ahead, Catching Up or Falling Behind? Working Paper in Technology Governance and Economic Dynamics No 32 http://technologygovernance.eu/files/main/2010090707562222.pdf
Hoffman, David. 2002. The Oligarchs: Wealth and Power in the New Russia. Public Affairs.

Olga Mikheeva is about to defend her doctoral thesis on financing of innovation and public development banks at Tallinn University of Technology, Estonia, and is also a research associate at the Institute for Innovation and Public Purpose, University College London, UK. Olga’s research interests are governance of innovation policies, financial governance of innovation and development; financial bureaucracies; political economy of finance. In her PhD dissertation she is focusing on East Asian countries, where she did her fieldwork, while her current work-in-progress deals with promotional banks in Central and Eastern Europe within Foundation for European Progressive Studies (FEPS) – funded project ‘Promotional Banks in Europe: Potentials and Pitfalls.’ She published on financing of innovation, financial innovation and financial bureaucracies and coordinated a research project ‘Understanding Policy Change: Financial and Fiscal Bureaucracy in the Baltic Sea Region’ 2014-2017 (EEA/Norway Grants). In addition, Olga is a member-elect of the European Association of Evolutionary Political Economy (EAEPE) Council.