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Russian Economist Blames Corruption for Downturn

A leading Russian economist says that corruption and a “bad political equilibrium” are primarily to blame for Russia’s current economic stagnation.

Sergey Guriev, former rector of the prestigious New Economic School in Moscow and a one-time adviser to the Russian government, spoke on February 12 at Columbia University in New York. In his remarks, the now France-based economist addressed the recent slow-down in the growth rate of Russia’s Gross Domestic Product (GDP) from nearly five percent in early 2012 to 1.2 percent at the end of 2013.

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Katya Kumkova is a EurasiaNet staff reporter.

Russian Economist Blames Corruption for Downturn

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