Perestroyka in the Aftermath of 1990

Abstract

An American specialist on the Soviet economy assesses economic performance in 1990 (the worst in the postwar period) and the radicalization of economic reform (featuring significant legislation on destatization of property ownership and decontrol of prices) occurring in 1990. It then focuses on increasing efforts by republic and lower-level administrative territorial units to exert greater control over economic activity within their borders, over trade relations with other regions, and over budget allocations to the center. Although economic indicators continue to fall, there is now a body of reasonably coherent reform legislation that is worthy of implementation. Journal of Economic Literature, Classification Numbers: P20, P27.