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The IUP Journal of International Relations

Post-Soviet Economic and Political Interdependencies: The Case of Russia, Ukraine and Belarus

Article Details

Pub. Date	: Jan, 2024
Product Name	: The IUP Journal of International Relations
Product Type	: Article
Product Code	: IJIR010124
Author Name	: Aleksandar Vasilev and Sam Felton
Availability	: YES
Subject/Domain	: Arts & Humanities
Download Format	: PDF Format
No. of Pages	: 22

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Abstract

This study investigates the interdependencies between democracy, privatization, and the rule of law in transitioning countries by comparing the cases of Russia, Ukraine, and Belarus. Based on the findings, the study recommends policies to follow to improve the progression of economic and political transition. By focusing on two key hypotheses-whether democracy positively drives privatization, and whether privatization positively drives the rule of law-the study combines political and economic transitions of countries as one subject. It is found that democracy negatively interferes with privatization in Russia, Ukraine, and Belarus due to corruption, insider control, hollow reforms, and institutional weakness. Consequently, the rule of law is also hindered by the same factors. Hence, the root causes of these transitional blockers must be resolved. Finally, the study explores political and economic interdependencies and suggests policies for political, economic, and institutional reforms.

Introduction

The collapse of the Soviet Union in 1991 marked a turning point in the economic history of many countries as they shifted away from centralized planning and embraced free market principles. However, despite the widespread adoption of economic reforms since the 1990s, only Poland has been able to fully establish itself as a free market economy.1 The disintegration of both an ideology and an economic system was unprecedented; as a result, the field of transition economics is relatively new and important for understanding the future development of the European continent. This also highlights the importance of this area of research for future development on the European continent.

While extensive research has been conducted since the 1990s to examine the effects of economic transition on growth and macroeconomic indicators, the field of transition economics remains a subject of ongoing study. Whereby, relatively little