RUSSIA'S ECONOMIC SYSTEM

By Daryl R. Evans

General Characteristics of Agricultural, Industrial, and Information Age Economic Systems

Information/Data on Russia's Economic System

Russia is a centrally planned economy undergoing transformation to a free market economy. Russia's gross demostic product(GDP) lies roughly between those of Canada and the United Kingdom. The economy is industrial, with the bulk of its wealth and export earnings derived through exploitation of its rich energy and mineral reserves. Industrial production fell about 20 percent in 1992 aand real wages fell about 40 percent from previous levels. Unemployment rose to around 1 million by the end of 1992.

Conclusions on Russia (Whether Primarily Agricultural, Industrial, or Information Age Re: Its Economic System)

With the major restructuring going on in the Russian economy, I would place them in the information age.

Additional Online Sources on Russia's Economic System


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