Déjà vu: economic determinants of Russia’s power in the historical perspective (1890–2020)
Déjà vu: economic determinants of Russia’s power in the historical perspective (1890–2020)

Summary/Abstract: The article seeks to answer, from the economic point of view, the question about sources of instability of Russia’s superpower status over the last 130 years. The analysis of economic strengths and weaknesses of Russia is based on a comparison of three periods: the Russian Empire in 1890–1913, the Soviet Union in 1980–1991, and the Russian Federation in 2000– 2020. In spite of different sources of the problems, in all the three periods the Russian economy shows astonishing similarities that led to severe economic and socio-political crises. The three most important common problems are: (1) insufficient domestic savings to simultaneously finance economic modernisation and imperial policy, (2) low competitiveness, (3) dependence on the export of raw materials. Although the causes of these weaknesses were different in the analysed periods and rooted in dilemmas of internal policy, their occurrence always represented a major vulnerability for Russia that manifested itself fully during the trade wars and economic blockades. In the case of the Russian Federation, the vulnerability may be reinforced by both a confrontational policy towards the West and the technological and economic changes which could transform the functioning of global energy markets.

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