Articles by Sergei Guriev



Russias Military Spending Is Out of Control

On May 9, Russia held its largest military parade since the Soviet era. In the tradition of that era, Red Square was filled with the army's latest equipment, including the new T-14 Armata tank.

State Firm Bailouts Are Killing Russias Ruble

In recent weeks, the fall in the Russian ruble and Russian stock markets closely tracked the declines in global oil prices.

Sanctions Hurt Putin's Hold on Power

Though oil prices remain high, Russias budget and financial system face severe problems over the next two to three years.

How Putin Spooks Investors

Regardless of whether the Kremlin is irrational or not, it is sending a clear signal to investors: Its political leaders are impossible to predict.

The Return of Stagnation

A big piece of a shrinking pie is preferable to no piece of a growing one, which is what elites would receive in a fair legal system.

The Battle for Moscow

What happens in Moscow during the mayoral vote on Sunday will have profound implications for the country's future.

What Should Be Taught in Business School

Business schools should do more to help students  become better leaders by increasing their emotional intelligence.

Clock Is Ticking on Putin's Economic Pledges

Very little time remains for Putin to start improving Russia's investment climate.

Rosneft Delivers a Blow to Market Economy

Private property and competition are necessary for productivity and investment. The Rosneft deal contradicts this postulate.

Crunching the Numbers to Find Out if a Crisis Will Give Russia a Democracy

What do the coming years hold for Russia's political system? Recent cross-country studies suggest that economic growth alone will not miraculously transform Russia into a democracy or protect it from becoming a dictatorship. Moreover, it appears that the economic crisis is a significant threat to the ruling regime.

Privatization as a Crisis-Fighting Measure

While many discussions at the forum will focus on potential armageddons in Greece or Spain, the global slowdown is the one issue that matters most, and it is especially important for Russia.

Protesters Affirm the Modernization Theory

When Soviet President Mikhail Gorbachev stepped down 20 years ago, on Dec. 25, 1991, it ended the 70-year history of the Soviet Union and began Russia's transition to a market economy. Government control on the prices of consumer goods were lifted on Jan. 2, 1992, and within a matter of weeks, the planned economy, long lines and deficits became a thing of the past.

How the Middle Class Will Democratize Russia

Twenty years ago, Soviet President Mikhail Gorbachev resigned, the Soviet Union ended and Russia began an imperfect transition to democratic capitalism a transition that has proven to be far more difficult than expected. And yet the recent protests somewhat similar to those that preceded the end of the Soviet Union provide grounds for cautious optimism about the future.

Why Russia Is So Unhappy In Its Own Way

The St. Petersburg International Economic Forum is taking place as the global economy is facing new challenges. These challenges are certainly less troublesome that those in fall 2008 when the global financial system seemed to be falling apart, or in 2009 when the global economy declined for the first time in a decade.

The Purge of the Kremlin Chairmen

In recent days, President Dmitry Medvedev has moved against some of the most powerful men in the government. He recently signed a decree to strip Igor Sechin and others of their chairmanships of some of Russia's biggest state-owned companies. The stated purpose of the decree was to improve the country's investment climate, but the purge may reflect other, more important goals.

Prisoners of the Red Army

During Soviet times, Feb. 23 was called the Day of the Soviet Army and Navy and celebrated the creation of the Red Army. (The holiday received its current name in 2006.) Unfortunately, Feb. 23 is not the only remaining relic of the Red Army. Another Soviet military legacy is the system of obligatory conscription.

That 70s Show in Russia

Can Russia escape the resource curse implied by high oil prices, or will it succumb to what we call a 70-80 scenario: Brezhnevian political climate, stagnating economy and high approval ratings for its political leaders?

Sailing Toward Soviet Stagnation

This Thursday marks the start of the St. Petersburg International Economic Forum. Because it is an annual event, we can compare what was important at various forums. This week's agenda shows that Russia is now more interested in long-term issues.

Modernization 1937

In denying Magnitsky medical treatment, law enforcement officials used the same methods as the NKVD.

Sochi's Olympic Windfall

Do the Olympic Games benefit the host country? It depends on whom you ask.

Rescuing Russia From Collapse

Russia's economy is collapsing, but the situation could be even worse. The global economic crisis has finally forced the government to adopt sensible policies, thereby staving off disaster -- at least for now

Moving Away From Distrust

The relationship between Russia and the West has been rocky in 2008 in terms of diplomatic relations and foreign investment.

Enron, Yukos and the Gatekeepers

A defining feature of modern Russia's political and economic landscape -- the Yukos case -- has been interpreted very differently inside Russia and in the West.

The Quest for 2nd Term Economic Success

Although most independent observers agree that last week's presidential election was unfair, there is little doubt that Vladimir Putin would have won re-election by a landslide even in an honest election.