Rather than using the oil windfall to pay for long-overdue reforms in health care, education, and utilities – and thus helping to ensure the macroeconomic stability needed to sustain rapid long-term growth – President Vladimir Putin has chosen large spending increases for public wages and pensions. As a result, Putin’s Russia appears headed for the Latin American model of self-inflicted stagflation.
现实刚好相反。弗拉基米尔·普京总统没有利用石油带来的意外之财推进卫生保健、教育和公用事业方面早就应该实施的改革——从而促进宏观经济稳定，以利于保持快速的长期经济增长——反而选择在公众工资和养老金上增加大量开支。结果，普京治理下的俄罗斯似乎正朝着经济停滞、自作自受的拉丁美洲模式迈进。