An accounting model of the virtual economy in Russia

Clifford Gaddy, Barry W. Ickes

Research output: Contribution to journalArticlepeer-review

46 Scopus citations


Two noted American specialists on the Russian economy outline the concept of the 'virtual' economy and present a simple model explaining its operation. The model makes it possible to trace the movement of value through the economy from points where it is created (resource-producing enterprises) to sites where it is lost (manufacturing) and identifies mechanisms whereby such losses are concealed and accommodated through barter, arrears, offsets, and delayed wage payments. The authors devote particular attention to motivations underlying participation of major actors in the virtual economy and examine why programs to combat corruption and improve tax collection could be compromised.

Original languageEnglish (US)
Pages (from-to)79-97
Number of pages19
JournalPost-Soviet Geography and Economics
Issue number2
StatePublished - 1999

All Science Journal Classification (ASJC) codes

  • Geography, Planning and Development
  • Economics and Econometrics


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