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

What reasons stood behind the instability of the power position of Russia over the last 130 years? This analysis, covering three periods of time: 1890–1913, 1980–1991, and 2000–2020, reveals astonishing similarities of structural economic problems that led to severe economic and socio-political crises. Despite different causes, each time the crisis was triggered by insufficient savings compared to needs resulting from a program of economic modernisation and imperial policy, low competitiveness of industry, and dependence on export of raw materials. These vulnerabilities of Russia became especially apparent under extraordinary circumstances (wars, economic blockades, sanctions).