Abstract

The caselet discusses the initiation of reforms in Russia after its formation in 1991. It follows the path of rapid progress that Russia made, surprising the world. The caselet also gives an overview of the challenges that the country may face in the future.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Economic reforms in Russia
• Russia’s GDP growth
• Reasons for growth of Russian economy
• and SMEs posing a challenge to economic development in Russia.

Keywords

Communism, centrally planned economy, free market economy, fiscal reforms, short-term borrowings, Ruble, foreign direct investments (FDIs), inflation, gross domestic product, unemployment rate, small and medium-sized enterprises (SMEs), oligarchs, World Bank