Introduction. Transitional economies ; This report -- The macroeconomy -- Oil and natural gas : prices, production, and exports -- Markets and reform -- International transactions -- Russian military spending -- Conclusions and implications

The good news and the bad news about the Russian economy's movement toward becoming a market economy are both abundant; however, the Russian economy can still-16 years after the Soviet Union's demise-be appropriately characterized as transitional. It is the second largest of the economies...