The paper emphasizes the transition in Russia and the role institutions played before and during the process. In Russia, a big bang approach was applied. That is to say, transition was conducted all of a sudden, omitting important underlying reforms. This practice should function as a shock...

In 2000s, Russia entered the second round of radical reforms of its economic and political system. These changes affect the institutions of the macro- and microeconomic policy, of the energy policy, as well as the institutions of the climate policy. Thus, the framework is currently being built...