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ID: 110021

Determinants of the economic crisis in post-socialist Europe / Connolly, Richard

Connolly, Richard	Journal Article
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2012.

Summary/Abstract

After enjoying a period of sustained economic growth that saw the region converge with EU per capita income levels, the global economic crisis caused post-socialist Europe to suffer a larger decline in output during 2008-2009 than any other region in the world. While there was considerable variation in individual countries' experience of the crisis, this article argues that the severity of the crisis can be explained by three key macro-financial variables. The analysis suggests that alternative explanations focusing on other macroeconomic vulnerabilities, institutional weaknesses or trade vulnerabilities are of little explanatory utility.

Key Words

European Union ; Economic Crisis ; Europe ; Economic Growth ; Global Economic Crisis ; Post - Socialist Europe

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ID: 146333

Empire strikes back: economic statecraft and the securitisation of political economy in Russia / Connolly, Richard

Connolly, Richard	Journal Article
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Summary/Abstract

This essay considers the impact of economic statecraft, used by both Western countries and Russia in the aftermath of Russia’s annexation of Crimea in March 2014, on political economy in Russia. The first part of the essay assesses the impact that economic statecraft had on the performance of the Russian economy in the period 2014–2015. The second half of the essay considers how economic statecraft has shaped the development of the system of political economy in Russia. It is argued that the available evidence indicates that economic statecraft has resulted in several unintended consequences, including the strengthening of elite cohesion, and a creeping ‘securitisation’ of economic policy in Russia.

Key Words

Political Economy ; Russia ; Economic Statecraft ; Securitisation ; Empire Strikes Back

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ID: 144944

Security above all / Connolly, Richard

Connolly, Richard	Article
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Summary/Abstract

Against the backdrop of heightened international tensions and economic warfare between the West and Russia, there are signs that the configuration of Russia's system of political economy is changing. Russia's economic policy debate is increasingly characterized by an emphasis on self-reliance that is justified in the name of security, with economic policy subsumed within a wider effort to insulate Russia from a growing array of internal and external threats. It is this tendency towards economic securitization that is the subject of this article.

Key Words

Security ; Russia ; Securitization ; Growing Militant Economy

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