Philip Hanson OBE. The Russian economy: growth versus security

Philip Hanson OBE. The Russian economy: growth versus security

Russia’s economy is recovering from recession. So far, the recovery is sluggish and somewhat fragile. The expansion of Russian output is limited by a declining workforce, weak investment and problems with productivity growth. These problems, when described in broad terms, are common to much of the developed West. However, Russia is still not a developed country and should have scope for faster, ‘catch up’ growth. Something is holding Russia back. The causes of sluggish investment and productivity growth in Russia are different from those that apply to the Western world. In the talk I shall consider what those distinctive causes are, and will argue that the leadership’s concern with ‘security’ is part of the problem. This is not merely the high priority given to defence and security in public spending. It is more to do with the large role of the state in general in the economy and the impediments to private enterprise and competition. Particular attention will be given to the 2017 Strategy on Economic Security.

Philip Hanson is Emeritus Professor of the Political Economy of Russia and Eastern Europe at CREES, the University of Birmingham, and an Associate Fellow of the Russia and Eurasia Programme at Chatham House. He has worked in the Treasury, the Foreign and Commonwealth Office and Radio Free Europe/Radio Liberty, as well as at a number of universities: Exeter, Michigan, Harvard, Kyoto, Soderton and Uppsala. He acts as an analyst or consultant for Oxford Analytica and several banks and companies. His books include The Rise and Fall of the Soviet Economy 1945-1992.

Tea, Coffee & Biscuits at 6.30 pm. Talk starts at 7.00pm.

* – in cooperation with The Great Britain – Russia Society

Please note that this event will be in English, without translation into Russian.