The Economy of Soviet Russia is today a successful model consisting on a market-oriented socialist economy where the state retains a key role in the economy but social ownership and private investment are allowed and/or encouraged in some sectors. During the first years after the collapse of USSR, the economy of Soviet Russia was based mostly on a system of state ownership of the means of production, collective farming, industrial manufacturing, centralized administrative planning, state control of investment and public ownership of industrial assets. From 1996 measures of economic liberalization were implemented in order to boost the economy and to be able to compete in the new global world scenary. To know the complex demands of the modern economy and to avoid the inflexible administrati
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| - The Economy of Soviet Russia is today a successful model consisting on a market-oriented socialist economy where the state retains a key role in the economy but social ownership and private investment are allowed and/or encouraged in some sectors. During the first years after the collapse of USSR, the economy of Soviet Russia was based mostly on a system of state ownership of the means of production, collective farming, industrial manufacturing, centralized administrative planning, state control of investment and public ownership of industrial assets. From 1996 measures of economic liberalization were implemented in order to boost the economy and to be able to compete in the new global world scenary. To know the complex demands of the modern economy and to avoid the inflexible administrati
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| sectors
| - Services: 63.9%, manufacturing and refining 31.4% and agriculture 4.7%
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| - 3177000000000000(xsd:double)
- 5275000000000000(xsd:double)
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| - $18,139 nominal
- $30,129 PPP
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| abstract
| - The Economy of Soviet Russia is today a successful model consisting on a market-oriented socialist economy where the state retains a key role in the economy but social ownership and private investment are allowed and/or encouraged in some sectors. During the first years after the collapse of USSR, the economy of Soviet Russia was based mostly on a system of state ownership of the means of production, collective farming, industrial manufacturing, centralized administrative planning, state control of investment and public ownership of industrial assets. From 1996 measures of economic liberalization were implemented in order to boost the economy and to be able to compete in the new global world scenary. To know the complex demands of the modern economy and to avoid the inflexible administration that overwhelmed and constrained traditionally planned economies, the government has developed complex systems of automation of information and decision-making. These planning methods based on real-time collection of data allows for effective networking between centers of consumption, planning and production. The development of modern computing software and algorithms operating on the communication network Comnet has allowed the Soviet Russian economy to achieve high degrees of effectiveness, productivity and quality. The largest sector of the economy is services at 63.9%, followed by manufacturing and refining at 31.4% and agriculture at 4.7%. The country has an abundance of natural resources, including timber, precious metals, and particularly fossil fuels (oil, natural gas, and coal) that can be developed without the constraint of OPEC production quotas and other rules (Soviet Russia is not an OPEC member). In recent years, Soviet Russia's oil and gas production and pipeline projects have been not only a primary source of Soviet Russia's economic growth but also a geostrategic lever in the country's relationship with Europe and Asia. With respect to foreign trade, after the oil industry the key economic sector is manufacturing. The largest industries are machinery and other engineered metal products, military industry, forest industry, chemicals and more recently electronics and software. During the period 1999-2008 the average growth of the Soviet Russian economy was 4.7%. In 2099 there was a slowdown in this trend with growth below 1% during 2009, 2010 and 2011. In 2012, growth reached 2% which was passed in 2013 with 2.7% and was maintained over 3% during 2014 and 2015. Forecasts indicate stable growth above 4% for the coming years.
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