Miller argues that despite Russia’s corruption. Thus, Putinomics at once analyzes Russia's political economy in a way that nonspecialists can comprehend and complicates our understanding of contemporary Russia. In this new analysis of Putin’s Russia, Chris Miller examines its economic policy and the tools Russia’s elite have used to achieve its goals. While acknowledging that part of Putin's successes-above all, quadrupling per capita GDP in just a decade and a half-can be attributed to cashing in on high oil prices, Miller details the government policies that have also been fundamental to Russia's growth, which has outpaced and outperformed comparable petro-states like Venezuela and Saudi Arabia.While many scholars have long agreed that Russia has combined reasonably successful macroeconomic policies with mediocre micro policies, Miller argues that this dichotomy has not seeped very far into public debate. Miller argues that despite Russia’s corruption, cronyism, and overdependence on oil as an economic driver, Putin’s economic strategy has been surprisingly successful. Miller argues that despite Russia's corruption, cronyism, territorial expropriation, and over-dependency on oil as an economic driver, Putin's economic strategy has functioned far more effectively than most Westerners realize. In this new analysis of Putin’s Russia, Chris Miller examines its economic policy and the tools Russia’s elite have used to achieve its goals. In Putinomics, Chris Miller examines the making of Russian economic policy since Vladimir Putin took power in 1999.
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