Why has Russia's economic transition been so arduous?

Russia's attempt at radical economic reform has largely failed. Why? In the early years of transition, it was because of extraordinary rent seeking by state enterprise managers through export rents, subsidized credits, import subsidies, and direct government subsidies. Managers were strong because the Soviet Union left behind large economic distortions and an essentially unconstrained economic elite. Reforms could have been move far-reaching if democratic institutions had been developed faster or if the West had provided financial support for reforms in early 1992. Although rents have dwindled in recent years, Russian institutions have been cripled by corruption. Intense competition over remaining rents contributed to the financial crash in August 1998, but the competition also limits the rents-and might ease the way for future reforms.