Privatization, Conversion, and Restructuring in Russia’s Military-Industrial Complex: Macroeconomic Implications of a Sector Set Apart
Author(s)
Barry, Michael J.
Abstract
The defense industry in Russia needs to be reformed to ensure economic stability in the country. The military industrial complex, which is still under state control, needs to be privatized. Progress in the industry can be attained through restructuring, which may cause a temporary loss of jobs but will effectively regulate labor and finance according to the domestic market requirements. Russia envisages economic growth through large scale global arms exports, but this may delay the restructuring of its military industrial complex.