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Russia has been characterized for several decades by a hybrid between a capitalism of friends and a capitalism of the state. The latter where state enterprises are very important for the national economy.
When Putin took power in 1999, there was deep resentment against the nouveau riche. He took advantage of this; there was an environment conducive to a rapid increase in government ownership in various sectors.
Russia's GDP over the last 21 years has grown by an average of 3.8 percent per year. Will this economic model be sustainable in the long term? How risky is it to depend on natural resources?
Videos used:
- • Annual corporate video...
- • Tanks Born in Russia ...
- • Why ‘best friends’ Vla...
Statistics:
- data.oecd.org/
databank.worldbank.org/
Links of interest:
- Djankov, Simeon (2015). Russia's Economy under Putin: From Crony Capitalism to State Capitalism. www.piie.com/sites/default/fi...
- Lane, David (2009). Russia's Transition to Capitalism: The Rise of a World Power? www.researchgate.net/publicat...
Music:
Whatdafunk by Audionautix is licensed under the Creative Commons Attribution license (creativecommons.org/licenses/...)
Artist: audionautix.com/