Vanshaj Ravi Jain | University of Oxford
This paper sets out to examine the socio-economics of captured and oligarchic states, with a special emphasis on the Republic of Moldova between 2009 and 2019. We investigate the ten-year power cycle of former oligarch Vladimir Plahotniuc. We analyze his gradual rise to power from his shadow role under the Voronin regime to his equally shadow influence during the two phases of Alliance for European Integration I and II, before reaching the climax of power after the arrest of Vlad Filat in 2015, and finally his departure from power on the occasion of an unprecedented constitutional crisis in June 2019. We analyze the building blocks of the Plahotniuc power structure, and investigate the nature and the evolution of international relations between respectively the EU and Russia during that period. In a second part, we try to answer the difficult question of the compatibility between market mechanisms and oligarchic rule in post-soviet economies. Finally, the Moldovan banking fraud also known as the theft of the century that saw the disappearance of one billion dollars from the coffers of three of the major banks of the country, is given due consideration. Finally, we put forward a new theorem in monetary theory.