The Economics of Soviet Breakup

Before 1991, little was written or known of the individual states which made up the USSR, and their identities were subsumed into the Russian monolith.The Economics of Soviet Break-upanalyses the effects of the break-up of the Soviet Union into fifteen independent states. Topics discussed include: past and present economic relations between the republics, and forecasts for the future discussion of Customs Unions, Monetary Union or a Payments Union as possible ways forward for these states, economic integration theory, how the states of the Soviet Union functioned before the dissolution.

List of tables

viii

(2)

Preface

x

(2)

Acknowledgements

xii

1 INTRODUCTION AND OVERVIEW

1

(8)

Organisation of this book

8

(1)

2 THE ECONOMICS OF SOVIET BREAK-UP

9

(18)

A proposition

9

(5)

The size of the pie and its distribution

14

(5)

Soviet break-up

19

(6)

Conclusion

25

(2)

3 THE SOVIET UNION, 1922-91

27

(13)

The rise and fall of the Union

27

(4)

The republics' inputs: land, labour, capital

31

(3)

The republics' outputs

34

(4)

The Union's infrastructural legacy

38

(1)

Conclusion

39

(1)

4 FORMER SOVIET REPUBLICS' ECONOMIC INTERDEPENDENCE

40

(19)

Introduction

40

(1)

Analysing Soviet republics' economic interdependence

40

(4)

Exchange of outputs

44

(3)

Exchange of inputs: capital

47

(5)

Exchange of inputs: labour

52

(2)

Interrepublican economic relations: future prospects

54

(4)

Conclusion

58

(1)

5 A GRAVITY MODEL OF THE FORMER SOVIET UNION

59

(10)

Introduction

59

(1)

Gravity modelling in economics

60

(1)

The Soviet case

60

(3)

Expected trade reorientation

63

(4)

Implications for potential 'former Soviet' institutions

67

(1)

Conclusion

68

(1)

6 THE SOVIET UNION AS A CUSTOMS AND MONETARY UNION

69

(18)

Introduction

69

(1)

Customs Unions theory

70

(3)

Monetary Unions

73

(4)

Theory applied to the EU and the former USSR

77

(8)

Conclusion

85

(2)

7 THE SOVIET UNION AS A PAYMENTS UNION

87

(14)

Introduction

87

(1)

The European Payments Union Experience, 1950-8

87

(5)

Europe then and Russia now

92

(3)

Practice: what's going on?

95

(4)

Conclusion

99

(2)

8 THE SOVIET UNION AS A REDISTRIBUTOR

101

(5)

Introduction

101

(1)

Capital transfers: methodology and results

102

(1)

A shift in investment priorities

103

(3)

The effects of capital transfers: dispersion trends in the Soviet republics' levels of development

106

(2)

Transfers after the break-up of the Soviet Union

108

(3)

Conclusion

111

(1)

Appendix: output maximisation versus equality

112

(2)

9 THE NEWLY INDEPENDENT STATES IN TRANSITION

114

(17)

Introduction

114

(1)

Stabilisation

114

(5)

Liberalisation

119

(5)

Privatisation

124

(5)

Conclusion

129

(2)

10 CONCLUSION Economic relations among ex-USSR republics: past, present and future

131

(9)

Introduction

131

(1)

Past

131

(1)

Present

132

(2)

Future

134

(1)

The size of the pie and its distribution revisited

135

(3)

Border relevance

138

(2)

Notes

140

(5)

References

145

(8)

Index

153

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The Economics of Soviet Breakup

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Table of Contents

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