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Russia During The 1900's

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Substantial and considerable development of the private sector in a developing nation, with the focus of democratization, requires pointed development of a country’s institutional framework and infrastructure. A large portion of aid to lesser developed countries is expended on short-term humanitarian goals. It is imperative to develop innovation in production to more effectively expand growth in the long-run. Therefore, proper allocation of monetary funds towards private sector development that encourages functioning institutions is beneficial to a country’s developmental efforts. Russia during the 1900’s is an example of an unsuccessful attempt to transition from communism to a democracy, attempting to follow similar patterns of growth exhibited by other countries throughout the 1900’s. The national liberalism of Russia’s communist party led to conflict within the country over economic and political …show more content…
With the election of president Yeltsin, democratic reform took hold of Russia with controversial approval of the people. Yeltsin was effective at instituting liberal social reform and freedom, however the economic reforms that took place led to much criticism. Russia lacked the market institutions from which the political reform needed to grow, and attempted to simultaneously grow the two. The resulting economic downfall of the democratic rule in Russia led to further support of the authoritarian political model; not for prosperity, but for the stability it could provide. The attempted total economic and political reform in such little time led to opportunists taking advantage of the market’s volatility, and participating in shady business practices; leading to a large inequality and a very select group of elite wealth. The large majority of the Russian population viewed

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