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1 Chappell (1990) shows that both approval ratings and voting depend on growth and inflation in the US.
2 Åslund (2013) discuss the transition process in Russia and other post-communist countries at more length.
3 The notion of Russia being a “normal” country was introduced by Shleifer and Treisman (2005) and then used by the authors to look at a wider set of countries in Shleifer and Treisman (2014).
4 The benefits of investments in other sectors than the extractive industries are rather obvious. However, decisions to shift government policies away from extractive industries to the benefit of other sectors would be subject to a political process with strong opposing forces as discussed in Fortescue (2018).
5 In a recent study, Berezinskaya (2017) notes that there has been no growth in investment measured in constant ruble terms in recent years and this is the first prolonged stagnation of investments since Putin became president.
6