Alexandra Prokopenko
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Budget Planning and Russia’s Spending Reduction Pipe-dream
Alexandra Prokopenko focuses on whether — as some officials are advocating — Russia could actually reduce spending in its next budget despite the war in Ukraine. She also looks at how Yevgeny Prigozhin’s insurrection prompted a huge spike in demand for cash and the rising numbers of Russians moving to Israel.
About the Author
Senior Fellow, Carnegie Russia Eurasia Center
Alexandra Prokopenko is a senior fellow at the Carnegie Russia Eurasia Center.
- The Kremlin Can No Longer Postpone Hard Economic DecisionsCommentary
- Loyal but Powerless: The Downgrading of Russia’s ElitePaper
Alexandra Prokopenko
Recent Work
More Work from Carnegie China
- The Plaza Accord and Its Relevance for ChinaCommentary
The Plaza Accord was not an externally imposed punishment of Japan but part of a broader restructuring that Japanese economists and policymakers themselves recognized was necessary. Its effects were undermined, however, when Tokyo responded to the resulting slowdown with policies that exacerbated investment, credit expansion, and the very imbalances the adjustment was intended to resolve.
Michael Pettis
- Who Paid for China’s Last Debt Cleanup, and Who Will Pay for the Next?Commentary
China’s banking crisis in the 2000s was resolved by transferring the costs to households through financial repression—a decision that recapitalized the banks while exacerbating the structural imbalances that continue to shape the Chinese economy today.
Michael Pettis
- The Xi Doctrine Zeros in on “High-Quality Development” for China’s Economic FutureCommentary
In the latest Five-Year Plan, the Chinese president cements the shift to an innovation-driven economy over a consumption-driven one.
Damien Ma
- How China’s Growth Model Determines Its Climate PerformanceCommentary
Rather than climate ambitions, compatibility with investment and exports is why China supports both green and high-emission technologies.
Mathias Larsen
- What’s New about Involution?Commentary
“Involution” is a new word for an old problem, and without a very different set of policies to rein it in, it is a problem that is likely to persist.
Michael Pettis