May 30, 2012

Is Russia A Dynamic Emerging Market? Not A Chance.

So if its government isn’t interested in western clubs, can we classify Russia as a dynamic emerging market? Not a chance.

In China, a Communist party has engineered a complex, high-powered economic engine that has lifted the country from abject poverty to become the world’s second-largest economy. India has produced some of the world’s more innovative private sector companies. Brazil is now an increasingly self-confident democracy with a well-diversified economy and a growing international profile.

Russia, by contrast, has become an authoritarian state built on Mr Putin’s reputation as a tough guy and the export of oil, gas, other natural resources and little else. Corruption is endemic. - in Economonitor

Related: Market Vectors Russia ETF (RSX)

Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.