This article regards Jan. 2nd, 1992, when the Russian Federa-tion declared to initiate ＂ Shock Therapy＂ , as the beginning of Russian＇ s transit to market economy. On the basis of retrospection of Russian social and economic tran-sition process, this article explores three theoretical questions： 1. What enhanced the economic performance of Russia？ 2. What unfavorable impacts has the much - lagged transition of informal institutions brought on the transitional process？ 3. What impacts will a mutual accommodation between the traditional and new eco-nomic system as well as the remnants of old system brought on the new economic system in the Russian transitional process？
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