A Comparative Check on Inclusiveness of Economic Growth and Development:Russia vis-à-vis some Post-Soviet Economie

During a prolonged period of market reforms and structural transformations, the postSoviet economies experienced impressive growth and tremendous improvements in their populations’ respective living standards. Inequality, however, has become one of the most notorious features of these economies’ transition. This article offers preliminary considerations about the inclusiveness of economic growth and development (EGD) in Russia, Central Asia and Caucasus – referred to hereafter as RCAC. The opening sections clarify the conceptual and analytical frameworks. The next sections present an analysis of RCAC’s growth and development data in comparative perspective. This article demonstrates that the countries concerned accomplished mixed developmental outcomes. Given the initial level of economic development and the availability of factor inputs, Russia’s growth and development performance can be considered the most disappointing in the group whereas other resource-rich economies, particularly Kazakhstan and Azerbaijan, seem to have significantly improved their respective positions. Among resource-poor economies, Armenia displays positive example for both matters of growth and inclusiveness. While Georgia has not so far attained particularly outstanding results regarding inclusiveness, it has in recent years significantly improved all the metrics related to institutional environment, which might establish ground for better economic inclusion.