Institutions, Economic Interests and the Stalling of Economic Reform

The transition from the centrally planned economy and the communist system in Russia and in other post-communist states has provided fertile ground for the testing of political science theories. One of the critical questions that specialists have sought to answer is why it is that some countries, particularly those of Central Europe, are well on the way to becoming fully-fledged democratic societies with market-based economies whereas in Russia economic reform has stalled on the road to the market. The study of institutions from various perspectives can shed light on the nature of the economic policy process, on the successes and failures of economic reform to date, and on the character of the economic system emerging in Russia today.