Post-Cold War Russia and the Missed Opportunity for Global Stability

The collapse of the USSR sparked hopes of a peaceful 'end of history', but these were quickly dashed. Why did the opportunity for the two former superpower adversaries to become partners slip away?
This book explains the complex reasons behind Russia's turbulent transformation since the dissolution of the USSR. It looks at inconsistent economic reforms, and the failure to establish democratic institutions. It also examines how the US and its allies missed opportunities to support Russia's integration into the global economic system. Drawing parallels with post-WWII Germany and Japan, the book argues that a different approach could have altered Russia's trajectory. With the West facing a prolonged hybrid war with Putin's Russia, it is crucial to understand this history to shape future policies.
Written in an accessible, engaging, and insightful style by the former Russian Deputy Minister of Finance (1993-1995) and former First Deputy Chairman of the Central Bank of Russia (1995-1998), this book will appeal to anyone interested in the geopolitical dynamics of the post-Cold War era.

Sergey Aleksashenko leads NEST Centre’s (London, UK) research on economic issues and is an expert on the economies of Russia and Ukraine, focusing on macroeconomic issues and structural transformation post-USSR. Aleksashenko holds a doctorate in economics from the Central Economic and Mathematical Institute of the USSR Academy of Sciences. He served as First Deputy Chairman of the Central Bank of Russia (1995-1998) and Russian Deputy Minister of Finance (1993-1995). From 2000 to 2008, he was in the private business, managing director at Interros Holding, President and CEO Merrill Lynch Russia. From 2008 to 2014, he was Director of Macroeconomic Research at the Higher School of Economics (Moscow, Russia) as well as being a member of the Expert Council of the Government of Russia, and a board member of several Russian public companies. Aleksashenko was a non-resident Senior Fellow at the Brookings Institution (2015-2019) and contributed to Alexey Navalny’s presidential program (2017-2018). From 2019 to 2021, he advised the Prime Minister, Minister of Finance, and Chairman of the National Bank of Ukraine.