If you have small political elite you will never have stable growth. You might not get stable growth under a more broader politcal system (socialist india was relativly democratic) but much more likly.
See these two books, one from a economist perspective, on from a politcal sienctist perspecitve (both considered top people in the field):
- Why Nations Fail: The Origins of Power, Prosperity, and Poverty
- Dictator's Handbook
The both tell the same story with diffrent words, or maybe one would better say diffrent but overlapping parts of the same story.
Living in Western Europe, life is busy. I spend all my time implementing conspiracies against Russia, Pakistan, etc, etc...
In fact against all countries which are controlled by authoritarian b-ds that use West as an external enemy to keep people from complaining about how much they steal. Weird coincidence.
Nice little graph there.
2010 was the year when world economy started to recover, russia's - not so much.