Russia Rebounds

Russia Rebounds analyzes Russia’s dramatic economic recovery since the country’s 1998 financial crisis, emphasizing macroeconomic issues and fiscal and banking sector reforms. The crisis was a massive shock to the system and a considerable surprise to both Russians and foreign investors, who a year before had come to think that the worst of the transition from a centrally planned to a market economy was over. Macroeconomic performance since the crisis has been impressive. The book assesses the contribution of various factors underlying this recovery and highlights key policy challenges to ensure its sustainability.

Public debate about energy relations between the EU and Russia is distorted. These distortions present considerable obstacles to the development of true partnership. At the core of the conflict is a struggle for resource rents between energy producing, energy consuming and transit countries. Supposed secondary aspects, however, are also of great importance. They comprise of geopolitics, market access, economic development and state sovereignty. The European Union, having engaged in energy market liberalisation, faces a widening gap between declining domestic resources and continuously growing energy demand. Diverse interests inside the EU prevent the definition of a coherent and respected energy policy. Russia, for its part, is no longer willing to subsidise its neighbouring economies by cheap energy exports. The Russian government engages in assertive policies pursuing Russian interests. In so far, it opts for a different globalisation approach, refusing the role of mere energy exporter. In view of the intensifying struggle for global resources, Russia, with its large energy potential, appears to be a very favourable option for European energy supplies, if not the best one. However, several outcomes of the strategic game between the two partners can be imagined. Engaging in non-cooperative strategies will in the end leave all stakeholders worse-off. The European Union should therefore concentrate on securing its partnership with Russia instead of damaging it. Stable cooperation would need the acceptance that the partner may pursue his own goals, which might be different from one’s own interests. The question is, how can a sustainable compromise be found? This thesis finds that a mix of continued dialogue, a tit for tat approach bolstered by an international institutional framework and increased integration efforts appears as a preferable solution.

Now in a thoroughly revised, expanded, and updated edition, this classic text provides an authoritative and current analysis of contemporary Russia. Leading scholars explore the daunting domestic and international problems Russia confronts, considering a comprehensive array of economic, political, foreign policy, and social issues.

Russia today represents one of the major examples of the phenomenon of “electoral authoritarianism” which is characterized by adopting the trappings of democratic institutions (such as elections, political parties, and a legislature) and enlisting the service of the country’s essentially authoritarian rulers. Why and how has the electoral authoritarian regime been consolidated in Russia? What are the mechanisms of its maintenance, and what is its likely future course? This book attempts to answer these basic questions. Vladimir Gel’man examines regime change in Russia from the collapse of the Soviet Union in 1991 to the present day, systematically presenting theoretical and comparative perspectives of the factors that affected regime changes and the authoritarian drift of the country. After the fall of the Soviet Union, Russia’s national political elites aimed to achieve their goals by creating and enforcing of favorable “rules of the game” for themselves and maintaining informal winning coalitions of cliques around individual rulers. In the 1990s, these moves were only partially successful given the weakness of the Russian state and troubled post-socialist economy. In the 2000s, however, Vladimir Putin rescued the system thanks to the combination of economic growth and the revival of the state capacity he was able to implement by imposing a series of non-democratic reforms. In the 2010s, changing conditions in the country have presented new risks and challenges for the Putin regime that will play themselves out in the years to come.

Thoroughly revised, expanded, and updated, the new edition of this classic text provides the most authoritative and current analysis of contemporary Russia. Leading scholars explore the domestic and international problems Russia confronts, including political, economic, societal, and foreign policy issues. The new edition provides an analysis from multiple perspectives on the major challenges facing Russia and Putin’s regime. Updates include new sections on corruption, Russia’s conflicts with Ukraine and Georgia, Russia’s response to Only by understanding these challenges—and previous efforts to deal with them—will it be possible to understand the trajectory for Russia. Well written and clearly organized, this text is an indispensable guide for anyone wanting to understand contemporary Russia.

Now in a thoroughly revised, expanded, and updated edition, this classic text provides the most authoritative and current analysis available of the challenges facing Putin as he resumes the presidency. Leading scholars explore the daunting domestic and international problems confronting Russia today. Evaluating the regime s continued efforts to rebuild a country once on the verge of collapse, the contributors consider a comprehensive array of economic, political, foreign policy, and social issues. Clearly written and organized, this text is an indispensable guide for anyone wanting to understand Russia today."

A penetrating look into the extreme plutocracy Vladimir Putin has created and its implications for Russia’s future This insightful study explores how the economic system Vladimir Putin has developed in Russia works to consolidate control over the country. By appointing his close associates as heads of state enterprises and by giving control of the FSB and the judiciary to his friends from the KGB, he has enriched his business friends from Saint Petersburg with preferential government deals. Thus, Putin has created a super wealthy and loyal plutocracy that owes its existence to authoritarianism. Much of this wealth has been hidden in offshore havens in the United States and the United Kingdom, where companies with anonymous owners and black money transfers are allowed to thrive. Though beneficial to a select few, this system has left Russia’s economy in untenable stagnation, which Putin has tried to mask through military might.

The state remains as important to Russia's prospects as ever. This is so not only because, as in any society, an effectively functioning state administration is necessary to the proper functioning of a complex economy and legal system, but also because, in Russian circumstances, factors of economic geography tend to increase costs of production compared to the rest of the world. These mutually reinforcing factors include: the extreme severity of the climate, the immense distances to be covered, the dislocation between (European) population centers and (Siberian) natural resource centers, and the inevitable predominance of relatively costly land transportation over sea-borne transportation. As a result, it is questionable whether Russia can exist as a world civilization under predominantly liberal economic circumstances: in a unified liberal global capital market, large-scale private direct capital investment will not be directed to massive, outdoor infrastructure projects typical of state investment in the Soviet period.