Editorial Russia: A Work in Progress Transcending the Fifth ‘‘Time of Troubles’’ MANFRED KETS DE VRIES (GUEST EDITOR) KONSTANTIN KOROTOV (GUEST EDITOR) STANISLAV SHEKSHNIA (GUEST EDITOR) RUSSIAN FIREBIRD After a decade of a spectacular retreat, Russia is re-emerging as an active player on the world scene, and for the first time in its modern history is becoming a serious factor in the global economy. With its $1000 billion econ- omy set to grow at 5–7% over the next two decades, 27% of world gas and 6% of world oil reserves, the largest territory in the world and the largest population in Europe, the country is once again attracting the attention of the West and the rest of the world. While politi- cians and intellectuals warn of Russia’s increasing assertiveness and criticize its gov- ernment for suppressing democracy, business people vote with their dollars and Euros—in 2007, Russia received a record $87 billion in foreign investments, more than double the amount of the previous year. It is a market no serious global company can ignore. Domestic consumption has been growing at double-digit numbers for the last 3 years, real estate prices in Moscow have reached London levels, and in 2007 Russians bought more cars than any other European nation except Germany. Disposable income for a large seg- ment of the population has been increasing steadily, allowing the purchase of luxury goods and foreign travel—28 million Russians traveled abroad in 2007. The foundation has been set for a property-owning middle class. Thanks to its oil-fueled economy, Moscow can now count itself as the city with the largest number of billionaires in the world. In its turn, Russian business has started to expand internationally, with deals such as Evraz Group S.A.’s purchase of Oregon Steel Mills for $2.3 billion and Gazprom’s acquisition of the Serbian gas monopoly. In short, in 2007, Russia invested $54 billion outside its borders. Understanding Russia and the people who lead its political and business institu- tions is rapidly moving from a pure academic to a practical challenge, and it is anything but easy. In spite of years of free press following Gorbachev’s glasnost, Russia remains an enigma. Although it may now be a more open society than it was in the past, the way it works is still shrouded in mystery. Although some of us may be inclined to say of Russia ‘‘plus c ¸a change, plus c’est la Organizational Dynamics, Vol. 37, No. 3, pp. 211–220, 2008 ISSN 0090-2616/$ – see frontmatter ß 2008 Elsevier Inc. All rights reserved. doi:10.1016/j.orgdyn.2008.04.001 www.elsevier.com/locate/orgdyn 211