Economic transformation in the post-communist period: a comparative analysis of the experience of Russia and Poland

Abstract

The article presents the results of a study examining the processes of transformation in Poland and Russia as part of the post-communist modernization process aimed at establishing developed, Western-style market economies. The study substantiates the dichotomy of economic transformation. The universal nature of these transformations leads to the emergence of distinctive socioeconomic models in various countries. A historical and economic analysis has identified the systemic factors that shaped these countries’ different approaches to privatization. The authors note that Poland adopted a strategy of selective privatization. The process of privatization in Russia took place amid an institutional vacuum. It was characterized by the redistribution of wealth among a small group of individuals, accompanied by the devaluation of public savings and the emergence of an oligarchic system. As the Russian Federation attempts to regain economic sovereignty, it must consider the negative consequences of ineffective privatization models. This can be achieved by ensuring public oversight and consistency in the privatization and nationalization strategies developed and implemented by government institutions.