Description
Book SynopsisExploring Russia''s reentry into global capital markets at the dawn of the twenty-first century, Global Finance, Local Control shows how economic integration became deeply entangled with a bare-knuckled struggle for control over the vestiges of the Soviet empire. Igor Logvinenko reveals how the post-communist Russian economy became a full-fledged participant in the international financial sector without significantly improving the local rule of law.
By the end of Vladimir Putin''s second presidential term, Russia was more integrated into the global financial system than at any point in the past. However, the country''s longstanding deficienciesincluding widespread corruption, administration of justice, and an increasingly overbearing statecontinued unabated. Scrutinizing stock-market restrictions on foreign ownership during the first fifteen years of Russia''s economic transition, Logvinenko concludes that financial internationalization allowed loca
Trade Review
The book should be read by anyone who desires or requires a broad but also subtle understanding of political-economic functioning in contemporary Russia. [Global Finance, Local Control] is an important read, unpacking three decades of Russian paradox through a brisk economic history that strikes a serviceable balance between breadth and depth.
* Eurasian Geography and Economics *
Igor Logvinenko's Global Finance, Local Control provides a somber analysis of globalization that accounts for its darker aspects, does not give in to idealistic faith in global markets, and accounts for the autonomy of the political sphere.
* Ab Imperio *
Table of ContentsIntroduction: Russia as a Globalized Kleptocracy
1. Local Control and Global Access
2. Episode 1: Dividing the Debris of the Soviet Colossus (1987–94)
3. Episode 2: The Oligarchs Embrace Openness (1995–98)
4. Episode 3: State Capitalism Goes Global (1999–2008)
5. Coda: Financial Openness as a Mainstay of Kleptocratic Capitalism (2009–2020)
Conclusion: Western Finance and Russian Politics
