Russian Economy. Modernization, crisis et geo-economy

Russia’s modernization and its subsequent integration in global economy relies heavily on its cultural evolution. Indeed, is it realistic and even possible for the Russian people to enter the Western market ? A close look at traditional Russian values is essential to understanding this issue. Despite a consistently growing economy since 1998, there remain some Russian institutional and structural problems like corruption, inflation, the vulnerability of the bank system, the lack of competition, a low competitiveness, weak investments or the hindering of transportation development. Integrating Russia in the global economy requires that this country move on to « a post-industrial knowledge-based economy » and review its external politics, especially in the regional field. Finally, the relation between the European Union and the Russian government and its forthcoming membership to the WTO must act as incentives for modernizing Russian economy.