Based on extensive original research in the Republic of Tatarstan, in the Central Volga region of Russia, this book examines the economic development path followed by Tatarstan since the collapse of the Soviet Union and the Russian financial crash of 1998. It argues that the roles of global capitalism and globalisation are somewhat exaggerated in much contemporary academic literature. In the case of Tatarstan, a strong state role, tightly-knit local elite networks, and the inheritance of the Soviet politic and industrial systems are the most important socio-economic formations in explaining the region’s development.