Incentives and Institutions: The Transition to a Market Economy in Russia.(Review) (book review)

Incentives and Institutions: The Transition to a Market Economy in Russia. By Serguey Braguinsky and Grigory Yavlinsky. Princeton, NJ: Princeton University Press, 2000. 282p. $39.50.

After a decade of market reforms, it is obvious to most observers that something has gone wrong in Russia. Some economic indicators suggest modest successes in instituting a market economy, but most of the evidence is clear that the economic and social crisis has far exceeded what might be expected in terms of a "transformation recession." Industrial and agricultural output is down ...

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