Economy of Russia: the Search for Ways of Development (original) (raw)

Russian Socio-Economic Development: The Present Situation and Future Directives

Markets are increasingly affected by the laws of politics instead of the laws of economics. Nowadays political factor plays larger and larger role in the economic policy making, replacing market competition. Russia is no exception. External shocks such as changing oil prices and trade sanctions which influence on Russian economic development are unequivocal illustration of this trend. In order to respond to the changes and requirements of the world's current socioeconomic situation, Russia has to transform its economic system fundamentally What is the current socioeconomic situation in Russia? What are the challenges and limitations of the ongoing system? Why is there a need for introducing a new economic model? The article deals with the concept of Russian long-term socioeconomic development, analyzes the main socioeconomic indicators, and presents the main trends and features of the Russian economy.

Russia’s economy: before the long transition

Voprosy Ekonomiki, 2016

The article shows the main stages and results of the economic development in Russia since the early 1990s. It describes the process of formation and the basic features of a three-sector economic model, as well as the reasons for its stability and existing constraints to economic growth. The authors consider the most likely scenario for the evolution of the current economic model under conditions of a steady decline in export revenues. They also focus on fiscal and social risks and alternatives in economic policy.

Innovative Changes in the Russian Economy

2007

The article provides the analysis of Internet economy influence on the economic development of Russia. We study the nature of Internet economy, the peculiarities of its influence on the traditional branches of Russian economy, retail trade as well as small and medium business modernization, tourism industry and public services sector. Special attention is given to innovative changes in the Russian labor market under the influence of Internet economy resulting into the formation of new labor markets, new forms of population employment, new methods of job opportunities search and CV publication, new forms of HR motivation as well as the development of new forms of education and training in the Internet business environment.

What are the current constraints on Russia's economic modernisation

Despite the Yegor Gaidar’s “shock therapy” reforms right after the collapse of the Soviet Union or Dmitriy Medvedev’s determination to modernize Russia’s economic system during his presidency, the country still hasn’t managed to overcome the challenges associated with the economic modernization process. There are internal and external factors which prevent Russia to modernize its economy and fully integrate it into the global financial system. Widespread corruption, autocratic rule, rentier model, lack of skilled workforce, unfavorable business climate, corruption in the judicial system as well as, the unwillingness of the Russian political elite in implementation of reforms are the primary internal constraints in this path. Since 2014, Russia’s annexation of Crimea, and the war in Eastern Ukraine has forced the west particularly the USA and the EU to impose economic sanctions on Russia, which made things much more complicated for the Kremlin. In this policy brief, I am going to examine the current internal and external constraints on the Russian economic modernization process and will come up with recommendations on how these issues can be tackled.

Russia In The Global Economy. Theory and Practice

Politeja, 2019

The aim of the article is to analyze the Russian economic policy in its external dimension (economic expansion), in the context of discussions about changes in the global economy held in the Russian Federation. The starting point for reflections in this respect is Sergey Glazyev's view of the current evolution of international relations. The article contrasts the propositions of the Russian author and the strategy of activities of the Kremlin, which uses the state corporations for its external targets.

Развитие Государственного Стимулирования Инновационных Проектов

2019

The purpose is to substantiate the development of mechanisms for state support of innovative activities. Methodology: analysis, comparison and integration of data from Rosstat, specialized statistical methods for processing economic data. Results. The authors suggest a basic typology of regulatory operations of government bodies concerning the innovation sphere. The study presents a conceptually structured sphere of formation and implementation of innovative operations in Russian economy functioning with a focus on industrial production. This paper provides the analysis of basic regulatory framework orders in this area along with arising problems considering the typified operators behavioral models materialization and develops innovations in this regulation. The recommendations would provide for the practice of financial services, the implementation of state support for innovation activity in the country, its current state assessment as well as the identification of weaknesses ...

The Russian Economy: Can Growth be Restored within the Economic System? FOI-R-3876-SE, May 2014

The Russian economy: Can growth be restored within the economic system? , 2014

What are the characteristics of the Russian economic system and what potential does it have to spur growth? Would strengthening of the institutions underpinning the market economy make a difference? And is there any chance for reform initiatives from below through democratization? The purpose of the report is to analyse the systemic characteristics of economic development in Russia after 2009 and to assess the potential of the present hybrid economic system to resolve the impediments to future growth based on the improvement of productivity and innovation. Fundamentally this is an investigation of the extent to which the economic system can facilitate a more efficient allocation of resources between sectors, reduce resource waste, increase productivity and strengthen competition by enabling entry of new actors into different markets. The study develops a model based on Gaddy and Ickes (2010) and analyses the effects of rent dependence and Putin’s rent redistribution system on small and medium-sized enterprises, ‘the new private sector’, which has been added to the original model. It is shown that when a dominant part of the economy is ruled by the management of oil rents to secure the power of the regime, the role of market-oriented institutions becomes limited. Weak institutions have a background in the democracy shortage in Russia which is reflected in weak channels of ‘voice’ for citizens and organisations to express their opinion. The report analyses the effects of the present restrictions on voice and civil society development and concludes that there is little hope for ‘reform from below’ of the system. The confidence crises caused by the Ukrainian crisis of 2014 further aggravate Russia’s problems of restoring growth.

Prospects for the Development of Economic Legislation of the Russian Federation

Kutafin Law Review, 2022

The authors analyze the main legal schools that have developed in Russian legal science, pointing out their features and shortcomings, and propose to consider the development of Russian economic legislation. Accordingly, the authors reveal possible scenarios for reforming the Russian economy analyzing its public and private sectors legal support, while noting the mixed sector of the economy that has developed in Russia, which also needs to be substantiated by the corresponding body of legislation. Attention is drawn to the reform of market legislation and the privatization of state property, with an indication of the objective laws violations within the legal regulation of the economy public sector. The authors substantiate the need to create a three-sectoral model of legal regulation of economic relations, which involves the formation of three separate arrays of legislation in the private, public and mixed sectors of the economy. It is supposed that they are justified within the framework of the methodology of the Theory of Economic Law, which is the main goal of this article.

Russian Economy

2018

In the 20th Century the Russian Economy reminds every time more to the Tsarist times. Putins closed friends control the most important Energy Companies. While they are living in Palaces, poverty has increased for the vast majority of the Russian population. This short article takes a critical view on the current economic situation of Russia.