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External factors of Russia’s economic development: Unequal exchange in the post-Soviet space


TERRA ECONOMICUS, Vol. 24, No 3

Citation: Komolov O.O. (2026). External factors of Russia’s economic development: Unequal exchange in the post-Soviet space. Terra Economicus 24(3), 36–49. DOI: 10.18522/2073-6606-2026-24-3-36-49

The paper looks at unequal exchange in today’s world economy. It also examines how Russia fits into center-periphery ties across the post-Soviet area. The author relies on several frameworks. These include the “New Interpretation” of the labor theory of value. Structuralist thinking is also used. The work also draws from the world-systems approach. In the paper’s main claim, Russia plays two roles at once. It can be seen as the core in the post-Soviet region. At the same time, it is still shaped as a periphery when compared with Western Europe’s industrial economies. The study argues that Russia keeps lopsided links with nearby states. It also uses advantages tied to rent. Those advantages affect how value is spread and how goods are consumed inside the post-Soviet space. The comparison is made across the post-Soviet period. To do this, the author uses Eora data from the Global Supply Chain Database. The analysis also uses the Exchange Rate Deviation Index, or ERDI. The method follows purchasing power parity ideas. The results support the key hypothesis about Russia’s twofold position. The study finds a dual pattern in the Russian economy. It also describes Russia as semi peripheral in the current world order. The calculations suggest that the gap between losses and gains is getting larger over time. The imbalance grows inside the unequal exchange setup. The author reads this as stronger signs of Russia’s peripheral side. In the end, the paper warns about a risk. Russia could fall deeper into economic lag.

Keywords: unequal exchange; value transfer; economic development of Russia; post-Soviet space; absolute rent
JEL codes: F14; F63; P16


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Publisher: Southern Federal University
ISSN: 2073-6606












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