Failure. Russia Under Putin examines the significant failures Russia has faced under Vladimir Putin's leadership and presents an important counterpoint to a broad range of studies emphasizing Russia's resurrection, status as a persistent power, or successful military reform. Despite Putin's claims of restoring Russia's rightful place in the world, reviving the economic and industrial capacity destroyed in the 1990s, and improving living standards, data show that the gains from the oil price bonanza of 2000-2008 have long since vanished. The success Putin has achieved in centralizing power and repressing opposition now prevents any effective changes to address Russia's long-term decline. Failures include the inability to diversify the economy, reduce corruption, reverse demographic and educational decline, alleviate poverty, or address social inequalities. Russia's relative success in agriculture is threatened by climate change and continued dependence on imported technology. Putin's policies have exacerbated internal ethnic and regional tensions, while failing to promote regional development. Interventions in Syria and Ukraine have been blatant geopolitical failures. Recent military reforms have proven largely superficial. Despite Putin's personal relationship with China's Xi Jinping, Russia has not received significant economic aid or investment. Initiatives to develop the Russian Far East and maintain influence in Russia's near abroad have failed. Russia is left with partners that favor transactional relationships rather than mutually beneficial development.
Harley Balzer is Emeritus Professor of Government and International Affairs and an associate faculty member of the Department of History at Georgetown University, USA. From 1987 to August 2001 he served as Director of the University's Center for Eurasian, Russian and East European Studies. Dr. Balzer's research interests include political economy, Russian domestic politics, education, Russian and Soviet social history, science and technology, and US-Russian relations. His recent research focuses on Russian and Chinese integration with the global economy; financing higher education in The Russian Empire, the USSR, and the Russian Federation; and the demise of Russia's eduation, science and technology capacity in the Putin era. Steven A. Fisher is a career emerging markets finance professional and worked for thirty-five years with Citibank, including sixteen years in the former Soviet Union in senior leadership positions in Moscow and Kyiv. Fisher has spoken regularly at finance and policy forums across the world. He is the author of Into Russia's Cauldron, An American Vision, Undone (2021) and co-author (with Anders Aslund) of "New Challenges and Dwindling Returns for Russia's National Champions" (Atlantic Council, 2020). He received his Master of Science degree in Foreign Service from Georgetown University and Bachelor of Arts degree (Sino-Soviet studies) from Cornell University.
