Ukraine-and-Russia-E-IR
Ukraine-and-Russia-E-IR
Ukraine-and-Russia-E-IR
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231<br />
Conclusion<br />
As should now be clear, Western economic sanctions are moving <strong>Russia</strong> away from a<br />
model of economic development approximating the Western model, i.e. based on the<br />
primacy of the market <strong>and</strong> openness to the global economy, or at least the Westerndominated<br />
parts of the global economy. In its place, policy-makers are slowly<br />
constructing a system that eschews market-based solutions to economic development<br />
problems, <strong>and</strong> which favours selective integration with the global economy, with a<br />
preference for other state-driven political economies. The leadership in <strong>Russia</strong> is, in<br />
line with many previous <strong>Russia</strong>n governments throughout history, using the presence of<br />
an external threat to justify centralisation of the model of political economy at home.<br />
This model is beginning to take shape, <strong>and</strong> involves the suppression of economic<br />
competition, state control over the ‘comm<strong>and</strong>ing heights’ of the economy, especially<br />
finance, energy, <strong>and</strong> defence, <strong>and</strong> the deterioration of the business environment for the<br />
market-based portions of the <strong>Russia</strong>n economy. In short, such a model threatens to roll<br />
back many of the more positive elements of <strong>Russia</strong>n economic transformation that<br />
have taken place since 1991.<br />
References<br />
Baldwin, D. A. (1985) Economic Statecraft. Princeton University Press.<br />
Brooks, R. (2002) ‘Sanctions <strong>and</strong> Regime Type: What Works, <strong>and</strong> When?’ Security<br />
Studies, 11(4), pp. 1-50.<br />
Central Bank of <strong>Russia</strong> (2014) Monetary Policy Report December 2014. Moscow: Bank<br />
of <strong>Russia</strong>.<br />
Connolly, R. <strong>and</strong> Hanson, P. (2012) ‘<strong>Russia</strong>’s Accession to the World Trade<br />
Organisation: Commitments, Processes,’ Eurasian Geography <strong>and</strong> Economics.<br />
Connolly, R. (2015, forthcoming) ‘Troubled Times: Stagnation, Sanctions <strong>and</strong> the<br />
Prospects for Economic Reform in <strong>Russia</strong>,’ Chatham House <strong>Russia</strong> <strong>and</strong> Eurasia<br />
Programme Research Paper, London: Chatham House.<br />
Hanson, P. (1988) Western Economic Statecraft in East-West Relations. London: Royal<br />
Institute of International Affairs/Routledge.<br />
<strong>Ukraine</strong> <strong>and</strong> <strong>Russia</strong>: People, Politics, Propag<strong>and</strong>a <strong>and</strong> Perspectives