RUSSIA

What type of economy does it have?

The system proved to be extremely bureaucratic and highly resistant

to technological change.

Soon after independence in 1991 Russian government began initiating

reforms to move the economy from a centrally-planned to a marketbased liberal economy (the transition to a market economy).

Now Russia is an industrialized Capitalist economy, with some state

regulations, similar to most of Europe. Russia has a market-based
conomy.

Describe the system and how strict are

government control?
Russias economy depend on the market with government still hold a role
toward economic system.
Price controls were lifted
Government subsidies were eliminated or reduced
A restrictive monetary policy was adopted
Foreign trade was liberalized through the lifting of export and import
controls
The Russian currency, the ruble, was allowed to devalue to bring it into
line with market rates
Privatization and restructuring of state monopolies was undertaken
The protection of property rights is still weak and the private sector
remains subject to heavy state interference.

What parts of economy that government

involved in?
Mainly

Export and Import

Conclusion
Russia has undergone significant changes since the collapse
of the Soviet Union, moving from a globally-isolated,
centrally-planned economy towards a more market-based
and globally-integrated economy, but stalling as a partially
reformed, statist economy with a high concentration of
wealth in officials' hands.