Charles H. Fairbanks, Jr., is senior fellow at the Hudson Institute. Since 2006, he has been living in Tbilisi, Georgia, where he is also professor of Soviet and post-Soviet systems at Ilia State University.
Despite the persistent doomsaying about the political consequences of untrammeled international capital flows, financial liberalization may actually contribute to democratic consolidation.
Read the full essay here. In contrast to authoritarian power structures, which rest on a form of bureaucratic corporatism that makes the leader its hostage, the regime in Moscow rests…