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His economic influence was characterized by ambitious industrialization through a series of Five-Year Plans, emphasizing heavy industry at the expense of consumer goods. Collectivization of agriculture sought to increase productivity but resulted in widespread resistance and famine. Stalin established a command economy with central planning and state ownership, leading to inefficiencies.

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He implemented several economic policies. These included the Virgin Lands Campaign to expand agriculture, decentralization of economic planning to empower regional authorities, and initiatives like the Corn Campaign to boost food production. Khrushchev also introduced economic reforms to modernize the economy, with a focus on consumer goods and living standards.

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During his period the economy experienced stagnation marked by slow growth and inefficiencies. The focus on heavy industry persisted, contributing to imbalances in the economy. Economic planning under the framework of Five-Year Plans continued, but bureaucratic control and centralization hindered flexibility.

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His economic influence was characterized by a recognition of the need for reform to address the Soviet Union's economic challenges. However, his time in office was too brief to implement substantial changes, and it was Mikhail Gorbachev who later initiated more comprehensive economic reforms in an attempt to revitalize the Soviet economy.

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His economic influence was marked by a continuation of traditional Soviet economic policies with limited attempts at reform. His short tenure did not provide sufficient time for substantial changes, and it was only with the subsequent leadership of Mikhail Gorbachev that more comprehensive economic reforms, such as restructuring, were initiated in an attempt to address the deep-seated problems in the Soviet economy.

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His economic influence was characterized by the introduction of perestroika, a series of reforms aimed at modernizing the Soviet economy. While the reforms represented a departure from the traditional command economy, the implementation challenges and resistance from various quarters contributed to economic instability and played a role in the eventual dissolution of the Soviet Union.