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What Impact Did Putin Have On The Russian Economy

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After the collapse of the Romanov Empire in 1917, the Soviet Union emerged and took over Russia. The Soviet Union was founded in 1922 by the Bolshevik Party and was led by Vladimir Lenin. The Soviet Union dominated Russia and it became the first country to be based on Marxist socialism, which gradually transitioned into Communism. After Lenin died, Joseph Stalin rose to power in 1924 and dictated with terror. Upon his rule he transformed the Soviet Union from an agricultural based society into an industrial and military nation. According to an article written by the History staff, “Stalin implemented a series of Five-Year Plans to spur economic growth and transformation in the Soviet Union” (“Soviet Union”, 2017). Stalin took the homes of …show more content…
Putin implemented a series of economic reforms such as: simplifying the tax system, reducing tax rates, the privatization of agricultural land, and a transition into a simpler to obtain business registration along with licensing requirements. These reforms helped the Russian economy to a great extent and helped Putin’s popularity thrive. “With average real GDP growth of 6.9% per year, an increase of 10.5% in average real wages, and growth of 7.9% in real disposable income all occurring within the period from 1999 to 2008, Putin has received a lot of credit for this era of ‘unprecedented prosperity’” (Johnston, …show more content…
(2016, July 29). Rebuilding the Russian economy: Is a lack of policy the right policy? Retrieved April 20, 2018, from https://www.brookings.edu/blog/up-front/2015/09/25/rebuilding-the-russian-economy-is-a-lack-of-policy-the-right-policy/

Belousov, D. (2010). Studies on Russian Economic Development. Results of the Development of the Russian Economy in 2009 and Its Long-Term Forecast,21, 590-602. doi:10.1134/S107570071006002X

Considine, J. I., & Kerr, W. A. (2002). The Russian oil economy.

History.com Staff. (2017). Soviet Union. Retrieved April 19, 2018, from https://www.history.com/topics/history-of-the-soviet-union

Johnston, M. (2016, January 21). The Russian Economy Since the Collapse of the Soviet Union. Retrieved April 20, 2018, from https://www.investopedia.com/articles/investing/012116/russian-economy-collapse-soviet-union.asp

Marples, D. R. (2016). The collapse of the Soviet Union, 1985-1991. Retrieved from https://ebookcentral.proquest.com

Patrikarakos, D. (2017, November 21). Why Stalin Starved Ukraine. The New Republic. Retrieved April 19, 2018, from https://newrepublic.com/article/145953/stalin-starved-ukraine

Poland, M. (n.d.). Russian Economy in the Aftermath of the Collapse of the Soviet Union. Retrieved April 20, 2018, from http://www2.needham.k12.ma.us/nhs/cur/Baker_00/03-04/baker Poland

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