Corruption has laid waste to the Russian economy

The Financial Times publishes an opinion editorial by Sergei Guriev, former rector of the New Economic School in Moscow, arguing that Russian corruption turned out to be the root cause of the crisis in Crimea. The articles says graft has laid waste to the Russian economy and, once economic growth is gone, territorial expansion is an authoritarian regime’s tool of choice for bolstering its popularity and holding on to power. Russia’s corruption can no longer be considered to have the salubrious effect of keeping the elite in check. On the contrary, it has spawned an aggressive foreign policy to which western leaders are now struggling to respond.

Wednesday, April 2, 2014