Business Case Studies, Government and Business Environment Case Study, Capitalism, Socialism

print page
Tell A Friend
Bookmark
 

Case Categories

Government and Business Environment Case Study

IBS CDC IBS CDC IBS CDC IBS CDC RSS Feed
Case Title:

Russia’s Tryst with Capitalism: Darkness at the End of the Tunnel?

Publication Year : 2009

Authors: Hepsi Swarna & Akshaya Kumar Jena

Industry: Not Applicable

Region:Russia

Case Code: GBE0073

Teaching Note: Available

Structured Assignment: Not Available

Buy This Case Study
OR





Abstract:
After the disintegration of the Union of Soviet Socialist Republics (USSR or Soviet Union) in 1991, Russia started making its transition from a socialist economy to a market economy under the leadership of Boris Yeltsin (Yeltsin). All over the world, Russia was being hailed for the journey it was taking towards capitalism. But very few expected that in the name of capitalism, country’s most valuable assets would be handed on a platter to few oligarchs- a small group of businessmen. Thus, Russia under Yeltsin, experienced crony capitalism wherein the oligarchs gave him political support and Yeltsin in turn handed them the management/ownership of choicest enterprises. Over the years, Russia's capitalism started exhibiting many darker shades that affected the lives of its citizens in a dozen of dimensions. Crime and corruption have emerged as two prominent features of contemporary capitalism in Russia. In 2000, Vladimir Putin (Putin) came into power and Russia under him started moving from oligarchic capitalism to state capitalism. Crony capitalism continues to exist under Putin, the only change being his allies have now occupied the top most positions in the state-owned enterprises (SOEs).

Pedagogical Objectives:

  • To understand the transition of a socialist economy to a capitalist economy
  • To analyse the dark side of capitalism in the context of Russia
  • To explore the merits and demerits of ‘state capitalism’ that flourished under Putin’s regime.

Keywords : Capitalism, Socialism, Capitalism vs Socialism, Russian Capitalism, Oilgarchs, State Owned Enterprises, Oil rich Economies, USSR, Gorbochev, Boris Yelstin, Vladimir Putin, Perestroika

Recently Bought Case Studies

    Recently Bought Case Studies
advertisement

    Executive Interviews

  • David ConklinDavid Conklin

    David Conklin, is a professor at the Richard Ivey School of Business
    Speaks on Government and Business
  • Lord Meghnad DesaiLord Meghnad Desai

    Lord Meghnad Desai, is an Indian-born British economist and Labor politician
    Speaks on Government and Business
  • Vijay GovindarajanVijay Govindarajan

    Vijay Govindarajan, is widely regarded as one of the world’s leading experts on strategy and innovation
    Speaks on Reverse Innovation
  • View All Executive Interviews»




Contact us: IBS Case Development Centre, Survey No. 156/157, Dontanapalli Village, Shankerpalli Mandal, Ranga Reddy District, Hyderabad-501504, Andhra Pradesh, INDIA, Phone: 08147-236660/61/62/72, Fax: 08147-236653,E-mail: casehelpdesk@ibsindia.org

©2003-2013 IBS Case Development Centre. All rights reserved. | Careers | Privacy Policy | Terms of Use | Disclosure | Site Map xml sitemap