The Russian economic crisis

Since the end of the 1980s an attempt has been made to implement a liberal revolution in the former Soviet Union. One of the first results was the dis solution of the USSR into 15 independent states, which have pursued a varie ty of policies. In Russia, during 1991-98 policy initiatives by nominally l iberal politicians and their international backers had considerable influen ce, despite their limited elite and popular support. In the short run the l iberal revolution in Russia failed in its economic goal of establishing a c ivilised market economy. Instead it created a mutant economic system, which was severely shaken by the crisis of May-August 1998 and remains in deep d ecline. What caused this situation? What are the possible consequences of these eve nts? What are the prospects for the Russian economy?