Ongoing Economic Restructuring in the Wake of the Latest Economic Crisis: A Russian Perspective

Abstract

The latest economic crisis has brought into focus long-standing discussions regarding the role played by services in contemporary economies. Whether viewed as a support for the well-established manufacturing sector, or growth engine in its own right, the third economic sector has become a focus point for policy makers worldwide. The paper follows the effects of the crisis on the tertiarization process, with an emphasis on developing economies, where this phenomenon is barely coming of age. The research is centered on the IT market, as this is seen as a comprehensive measure of the maturity and sophistication of the services sector.

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