Wehrheim, P., K. Frohberg, E. Serova, and J. von Braun (eds.), Russia's Agro-food Sector: Towards Truly Functioning Markets. Kluwer Academic Publishers, 550 pages, Dordrecht 2000.

This book analyzes the transition of Russia's agro-food sector from a centrally planned system to a market-oriented one. The chapters set out to explain the initial conditions of transition, describe the measures undertaken, survey the current situation, and offer perspectives on how best to continue with the reforms. Hence, the book does not only provide insights into Russia's food economy, it also gives very valuable information about the process of transition and the question: What next?

Within the Russian context, the food economy is of special importance, due to the high share it represents in the economy and because of its importance for employment. Also Russians spend a relatively large amount of income on food. Furthermore, the privatization and the restructuring of the country's agro-food sector is one of the most controversial issues in the ongoing domestic political debate about the reform process. Russia is also important in as much as its reintegration into the world economy is at stake.

The analysis provided in this book should help in better understanding the issues causing the cumbersome implementation of reform measures and, in doing so, might provide scholars and policymakers with advice on how to improve the transition process. In fact, one of the most important lessons from this book is that markets will continue to malfunction as long as institutions are not functioning properly.

The editors of this book represent three research institutes which deal with countries in transition: Klaus Frohberg is Director of the Institute of Agricultural Development in Central and Eastern Europe (IAMO, Halle/Saale, Germany), Eugenia Serova is Director of the Division of Agricultural Policy at the Institute for the Economy in Transition (IET, Moscow, Russia), Joachim von Braun and Peter Wehrheim are Director and Senior Economist, respectively, at the Center for Development Research (ZEF, University of Bonn, Germany).

Kluwer Academic Publishers, Dordrecht 2000, ISBN 0-7923-7841-5