This chapter identifies the determinants of economic growth for the newly formed countries of the former Soviet Union and the Socialist Bloc. Starting from a neoclassical theory of growth this chapter adds recently identified contributing factors such as human capital, economic freedom, and...

This chapter measures the contribution of financial development to economic growth in Russia. The expansion of banking system causes institutional improvement in the economy, which results in extended and sustained economic growth due to changes in financial institutions. This chapter proposes...