Abstract

http://ssrn.com/abstract=157014
 


 



Observation on the Nature of Russia's Virtual Economy


Gene Hsin Chang


University of Toledo


Post-Soviet Geography and Economics, Vol. 40, No. 2, 1999

Abstract:     
The rapid expansion in Russia of the virtual economy, a system characterized by a network of barter, has recently received much attention. This article analyzes the origin, the nature, efficiency and welfare implication, of the virtual economy. While the system is criticized by many economists as a retreat from reform, this article argues that the virtual economy has merit and economic rationality, given the special circumstances in Russia. In particular, the system results in a net welfare gain, and it functions by using its own criterion of cost efficiency.

JEL Classification: P20

Accepted Paper Series


Not Available For Download

Date posted: September 27, 1999  

Suggested Citation

Chang, Gene Hsin, Observation on the Nature of Russia's Virtual Economy. Post-Soviet Geography and Economics, Vol. 40, No. 2, 1999. Available at SSRN: http://ssrn.com/abstract=157014

Contact Information

Gene Hsin Chang (Contact Author)
University of Toledo ( email )
Department of Economics
Toledo, OH 43606
United States
419-530-4677 (Phone)
419-530-7844 (Fax)
Feedback to SSRN


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