Russian-Eurasian Renaissance?: U.S. Trade and Investment in Russia and Eurasia

Annotation
The Woodrow Wilson Center's Kennan Institute is pleased to announce a book launch for "Russian-Eurasian Renaissance? U.S. Trade and Investment in Russia and Eurasia" (Woodrow Wilson Center Press/Stanford University Press, 2003) on Thursday, October 16, 2003 from 4:00 to 5:00 p.m. The launch is open to the public and will take place in the 6th floor auditorium of the Woodrow Wilson Center in the Ronald Reagan Building and International Trade Center at 1300 Pennsylvania Ave., NW in Washington, D.C. A reception will follow the launch, and copies of the book will be available for purchase. Please see (www.wilsoncenter.org/directions) for directions and instructions on getting into the Reagan Building.

Presenting the book's findings will be co-editors Jan H. Kalicki and Eugene K. Lawson. Jan H. Kalicki is Public Policy Scholar at the Woodrow Wilson International Center for Scholars and former Counselor to the U.S. Department of Commerce. Eugene K. Lawson is President of the U.S.-Russia Business Council and former Vice Chairman of the U.S. Export-Import Bank.
This landmark book begins by examining the overall trade and investment outlook in Russia and Eurasia. It then takes up critical sectors: energy, aerospace, automobiles, agriculture, and telecommunications. It turns to current institutional impediments to trade and investment such as problems in corporate governance, the banking system, and the rule of law. The final chapters look to the future and assess the prospects for economic reform, the movement to join the World Trade Organization, and the impact of political dynamics in the region.

The experts are joined by Georgian President Eduard Shevardnadze and former Russian Prime Minister Yegor Gaidar, who in their forewords acknowledge not only the crucial importance of trade and investment for the future but also the necessity of bringing the integrity of institutions up to international standards. A third foreword by Woodrow Wilson Center Director and former chairman of the House Foreign Affairs Committee, Congressman Lee H. Hamilton, stresses the place of commerce in economic growth and in the integration of Russia and Eurasia with the world community.

We hope that you can join us at the book launch.  Here are some early comments on this book:

"This timely and valuable book provides a fresh and highly informative understanding of Russia's and Eurasia's integration with the world economy. It does so at a critical time, in light of new strategic and economic realities."
Daniel Yergin, Chairman, Cambridge Energy Research Associates

"This book covers an enormous amount of ground in a very accessible way. It should be of value to anyone in the field, generalist or specialist."
Jeffrey E. Garten, Dean, Yale School of Management 

"This excellent book from a star quality case of contributors in an invaluable guide to both the perplexed and the proficient investor and trader. Never before has so much useful information on the recent history and analysis of the investment and trade picture and climate in Russia been brought together. This is a ‘must read' for anyone interested in doing serious business in the new and emerging Russia and the former states of the old Soviet Union.".
Thomas R. Pickering, Senior Vice President, Boeing Company, and former Under Secretary and U.S. Ambassador to the Russian Federation 

 "Whether you are a Russian or Eurasian policymaker seeking growth for your country or an investor or business executive seeking opportunity there, this serious and useful book belongs on your bookshelf."
James A. Baker, III, former U.S. Secretary of State

www.wilsoncenter.org

October 16, 4:00 p.m. - 5:00 p.m.

Event Summary

In a recent meeting at the Kennan Institute, Jan Kalicki, Public Policy Scholar, Woodrow Wilson Center, and Eugene Lawson, President, U.S.-Russia Business Council, presented the findings of their co-edited volume: Russian-Eurasian Renaissance? U.S. Trade and Investment in Russia and Eurasia.

“This is the only comprehensive volume on trade and investment opportunities and challenges in Russia and Eurasia,” stated Kalicki. The book differentiates among four categories of states: the resource-rich potential economic “tigers” and “peacocks,” and the resource-poor “hares” and “groundhogs”. Divided into five sections, the volume describes current and prospective commerce with Russia and Eurasia; examines five sectors as the main “economic drivers” of commerce; explores the constraints on the economic development of and increased trade with Russia and Eurasia; and finally makes some predictions for the future prospects of the region. In addition to forewords by Georgian President Shevardnadze, former Russian Prime Minister Gaidar and Wilson Center director Lee Hamilton, each section is complemented by commentaries from senior policy figures from Russia and other post-Soviet States.

The book, commented Kalicki, focuses on both the positive and the negative aspects of the economic and investment climate. Positive factors such as economic reforms and record economic growth in the post-Soviet states since the financial collapse of 1998 are counterbalanced by negative factors, including continued state controls, inadequate rule of law, and corruption. Optimistic assessments from some authors are countered by pessimistic analyses from others, leading to a lively debate among the contributors. The book’s overall optimistic outlook is predicated on the strength of economic reform and open markets in the leading states of the region, stated Kalicki.

The book section detailing the leading economic sectors asks key questions for Russia and Eurasia, noted Lawson. In addition to energy, the book has chapters on aerospace (will leasing prove to be the financing vehicle that opens this big market?), automobile manufacturing (how can the principles of organizational management be translated to a different culture?), agriculture (why hasn’t there been a bigger payoff from land reform?), and telecommunications (what is the future of internet and wireless communications?). Russia, heavily dependent upon energy and resource exports, has a particular need to diversify its economy. “The past century has not been kind to commodity-based economies in terms of living standards for populations, even in energy exporting nations,” argued Lawson.

Real and potential constraints on Russian and Eurasian growth are detailed in the fourth section of the book, which looks at corruption, investor protection, corporate governance, rule of law, the banking system, oligarchic capitalism, and other risk factors for the region. The final section of the book looks to the future, including market reform, trade agreements and the WTO, and the political dynamic.

Both speakers stressed the importance of democratic reform and strengthening civil society along with the implementation of economic reform, noting that in the end the two reinforce each other.