This study analyses the dynamics and operating mechanism in russian regional elections and at the same time derives political implications in cases of 2011-2012. The mechanism of russian regional elections can be defined as ‘a system of limited party competition’ established in Putin's 1-2 terms. In this article the author argues that while regional elections in March 2011 are the case with a crisis signal of russian ‘managed democracy,’ regional elections in October 2012 are the case with a maximization of operating the mechanism mentioned earlier. In addition, two elections give some important political implications in the policy directions of the new government, the limits of partial institution reform in the period of Medvedev, and the future political prospects.