Daria Barannik

Andrew W. Mellon Undergraduate Fellow in the Humanities

20092010 Forum on Connections

Daria Barannik

International Relations, Economics

College '10

In Search of "the Russian Path": Impact of the 2008 Crisis on Russia's Economic Policy

The 2008 economic crisis exposed the fragility of the Russian economy and threatened to unravel Vladimir Putin's social contract, predicated on oil export-fuelled growth and prosperity for Russians. How has the global nature of the crisis impacted the state economic policy? Has the Kremlin demonstrated a new appreciation for the need to diversify and liberalize its economy, perceiving its previous policies to be discredited? Or, threatened by a volatile global economy, will it recoil from modernization and continue its tradition of authoritarianism? The crisis constitutes a critical juncture in Russia's development, carrying important social, political and economic ramifications and challenging the state to adjust course for sustainable future growth.