Power and Money in Resurgent Russia

By Chris Miller

240 pp., 6.125 x 9.25, 22 graphs, 1 table, notes, bibl., index

  • Hardcover ISBN: 978-1-4696-4066-2
    Published: March 2018
  • eBook ISBN: 978-1-4696-4067-9
    Published: February 2018

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When Vladimir Putin first took power in 1999, he was a little-known figure ruling a country that was reeling from a decade and a half of crisis. In the years since, he has reestablished Russia as a great power. How did he do it? What principles have guided Putin’s economic policies? What patterns can be discerned? 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. Miller argues that despite Russia’s corruption, cronyism, and overdependence on oil as an economic driver, Putin’s economic strategy has been surprisingly successful.

Explaining the economic policies that underwrote Putin’s two-decades-long rule, Miller shows how, at every juncture, Putinomics has served Putin’s needs by guaranteeing economic stability and supporting his accumulation of power. Even in the face of Western financial sanctions and low oil prices, Putin has never been more relevant on the world stage.

About the Author

Chris Miller is assistant professor of international history in the Fletcher School of Law and Diplomacy at Tufts University.
For more information about Chris Miller, visit the Author Page.


"Miller challenges the popular notion that Russian President Vladimir Putin's entire talent lies in using corruption to sustain a kleptocratic authoritarian regime. . . . [A] short and admirably clear book."--Robert Legvold, Foreign Affairs

“Understanding the internal dynamics of contemporary Russia is more important than ever. Putinomics is a valuable contribution to that task.”--Financial Times

“In this lively, accessible, and well-sourced analysis, Miller puts forth a convincing and somewhat unorthodox argument: that contrary to conventional Western opinion, Russian economic policy under Putin has in large part been well designed and well executed.”--Philip Hanson, associate fellow of Chatham House

"In his comprehensive, balanced, and persuasive account of the rise of Putinomics, Chris Miller explains how Vladimir Putin has successfully crafted an economic system whose main accomplishment has been the preservation of state power and authority and its projection abroad. But he questions the future adequacy of this highly personalized system, where informal rules predominate over formal institutions, arguing that unless Russia commits itself to the modernization of the state and of the economy it will become a twenty-first century laggard. This book is essential reading for anyone seeking to understand Putin's Russia today."--Angela Stent, Georgetown University

"Putinomics provides a careful, comprehensive, and analytic assessment of the economic policies that have sustained Vladimir Putin in power in Russia over the last two decades.   Professor Miller argues persuasively that some of Putin’s fiscal and monetary policies have fostered economic stability and growth, while other politically-motivated policies have stifled investment and long-term development.  Explaining these complicated dynamics between politics and economics in Putin’s Russia is the great strength of this must-read book." - Michael McFaul, Stanford University