Oil in Putin’s Russia: The Contests over Rents and Economic Policy
Published: February 2021© 2021
Imprint: University of Toronto Press
Page Count: 348 Pages
Illustrations: 3 figures
Dimensions: 6.00 x 9.00
348 Pages, 6.00 x 9.00 x 0.75 in, 3 figures
No sector has been as vital as oil to the Russian economy since Vladimir Putin came to power. The longest serving leader since Stalin, Putin has presided during a period of relative economic prosperity driven largely by booming oil windfalls. Oil in Putin’s Russia offers an in-depth examination of the contests over windfalls drawn from the oil sector. Examining how the Russian leadership has guided the process of distributing these windfalls, Adnan Vatansever explores the causes behind key policy continuities and policy reversals during Putin’s tenure.
The product of over ten years of research, including interviews with decision-makers and oil industry officials, Oil in Putin’s Russia takes an innovative approach to understanding the contested nature of resource rents and the policy processes that determine how they are allocated. In so doing, it offers a comprehensive and timely account of politics and policy in contemporary Russia, and a significant contribution to research on the political economy of resource rents in mineral resource-rich countries.
1. Understanding Policy-Making in Resource-Rich Countries
2. The Upsurge in Executive Power under President Putin
3. Russia’s Historic Oil Windfalls and the Contest over Who Will Generate the Rents
4. Collecting the Rents: The Contest between the State and the Oil Industry on Dividing the Windfalls
5. The State as a Redistributor of Oil Rents: The Contest over Russia’s Budget and Economic Priorities
6. The State as a Redistributor of Oil Rents: The Battle to Save the Windfalls
7. The Oil Sector as a Redistributor of Rents
"In Oil in Putin’s Russia, Adnan Vatansever offers a truly remarkable analysis of the politics of oil revenues under Putin’s rule. It is an excellent read and an indispensable resource for understanding the domestic political economy of contemporary Russia."Andreas Goldthau, Franz Haniel Professor, Willy Brandt School of Public Policy, University of Erfurt
"In this excellent book, Adnan Vatansever examines one of the key issues underlying the political economy of Russia in the post-Soviet era – how have oil revenues, on which the country so patently relies, been distributed and utilised? With a focus on the Putin era, Vatansever uses his ’rent allocation model‘ to help the reader understand the critical relationship between the Russian State, the oil companies, and other influential beneficiaries, and provides an important contribution to our understanding of the workings of the Russian political and economic system. In addition to offering an insightful and fascinating analysis, it is also a very enjoyable read."James Henderson, Director, Natural Gas Research Programme, The Oxford Institute for Energy Studies
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