effects of globalization on russian economy

the process of economic tranformation brought dramatic changes to Russia's economy.The disappointeting economic results of the first decade of transformation which brought macroeconomic instability, and increasing poverty and inequality are often understood as results of Russias's opening in the context on Globalisation. In this article, the impact of Globalization on russia is discussed, and it is shown that responsability for the economic crisis is not globalization but a combination of the legacy of the centrally planned economy, together with incorrect policy choices after the beginning of transformation. Early attemps to transform Russia using Shock Therapy and applying a few guidelines dubbed the ''washington concensus'' failed due to the complexity institutional, but change does not mean a failure of market economy and not at all inevitable consequence of Globalization as popular misconception would imply.
In Russia statistics import/export activity, foreign investment, bilateral and multilateral technical assistance programs reveal that very few regions have been incoporated in global economy


Ndeye Marie Diakhate