Berkowitz, Daniel; Semikolenova, Yadiviga - Department of Economics, University of Pittsburgh - 2007
Russia’s impressive growth record since 2000 is driven largely by high world oil prices (Desai, 2006). This rapid growth, however, may be a “flash in the pan†because high oil prices enable the Russian government to engage in rent-seeking and to postpone deep restructuring (Berglöf,...