Economic Policy in Russia: Factors and Constraints

  • Sergey Nikolaevich BOLSHAKOV Syktyvkar State University named after Pitirim Sorokin, Syktyvkar, Republic of Komi
  • Yulia Mikhailovna BOLSHAKOVA Komi Republican Academy of State Service and Administration, St. Petersburg, Russia
  • Sergey Alekseevich TKACHEV Komi Republican Academy of State Service and Administration, Syktyvkar, Republic of Komi
  • Valery Grigorievich ZARUBIN Herzen State Pedagogical University of Russia, St. Petersburg, Russia

Abstract

The protracted economic crisis caused by falling oil prices and lack of competitiveness of the Russian economy determines the value of predictive assessments of economic development. Scenario modeling of options for the development of Russian economy in the medium term allows to reveal the trends and the likely priorities of economic development, as well as measures of Russian state authorities. The article assesses the macroeconomic indicators of economic development, records a drop in effective demand and consumer sentiment index. The growth of problems associated with the budget deficit and the performance of the state's social obligations is analyzed. The dynamics of the state of the National Welfare Fund and the direction of fund investment are analyzed; and political motivation of spending public funds and resources is stated.

References

[1] Avdeeva, D.A., Akindinova N.V., and Balashova, E.E. 2015. Rossiyskaya ekonomika posle prisoyedineniya Kryma: novyye realii i perspektivy razvitiya [The Russian Economy after Integration of the Crimea: New Realities and Prospects of Development]. In the Proceedings of the XVI April International Scientific Conference. In Moscow, NRU HSE, 18-19.
[2] Akindinova, N.V., and Yasin, E.G. 2015. Novyy etap razvitiya ekonomiki v postsovetskoy Rossii [A New Stage of Economic Development in Post-Soviet Russia]. In the Proceedings of the XVI April International Scientific Conference. In Moscow, NRU HSE, 35-37.
[3] Bolshakov, S.N., Bolshakova, Yu.M., Mokhalchenkova, N.A., and Istikhovskay, M.D. 2015. The Mediatization of Socially Important Issues and the Dynamics of Civil Society. International Review of Management and Marketing, 5: 11-17.
[4] Kudrin, A., and Gurvich, E. 2014. Novaya model rosta dlya rossiyskoy ekonomiki [New Model of Growth for the Russian Economy]. Issues of Economics, 12: 4-36.
[5] Krugman, P. 1979. A Model of Balance-of-payments Crises. Journal of Money, Credit, and Banking, 11 (3): 311-325.
[6] Lipkin, A.I. 2012. Rossiya mezhdu nesovremennymi ‘prikaznymi’ institutami i sovremennoy demokraticheskoy kulturoy [Russia between Old-fashioned ‘Mandative’ Institutions and Modern Democratic Culture]. World of Russia, 4: 40-62.
[7] Nametkin, D. 2016. Krizis i finansovaya stabilnost. Strategiya transformatsii bankovskogo sektora [Crisis and Financial Stability. Strategy of Transformation of the Banking Sector]. Special Review. Moscow: Analytical Centre under the Government of the Russian Federation, 64-67.
[8] Saritas, О. 2015. Global Futures Issues & Trends. Foresight for Development Roundtable, Republic of South Africa.
[9] Vedev, A., Drobyshevskiy, S., Sinelnikov-Murylev, S., and Khromov, M. 2014. Aktualnyye problemy razvitiya bankovskoy sistemy v Rossiyskoy Federatsii [Current Problems of the Banking System Development in the Russian Federation]. Economic Policy, 2: 7-24.
[10] Sinelnikov-Murylev, S., Drobyshevskiy, S., and Kazakova, M. 2014. Dekompozitsiya tempov rosta VVP Rossii v 1999-2014 godakh [Decomposition of Russian GDP Growth Rates in 1999-2014]. Economic Policy, 5: 7-37.
[11] Ulyukayev, A. 2015. Ekonomika adaptirovalas k toy situatsii v kotoroy my okazalis [Economy has adapted to the situation in which we found ourselves]. Speech at the Federation Council of the Federal Assembly on 9.12.15. Available at: http://economy.gov.ru/minec/press/official/2015091206 (accessed 01.03.2016).
[12] Ulyukayev, A.V., and Mau, V.A. 2015. Ot ekonomicheskogo krizisa k ekonomicheskomu rostu, ili kak ne dat krizisu prevratitsya v stagnatsiyu [From Economic Crisis to Economic Growth, or How Prevent Crisis from Turning into Stagnation]. Issues of Economics, 4: 5-19.
[13] Ulyukayev, A.V. 2014. Boleznennaya transformatsiya mirovoy ekonomiki [Painful Transformation of the World Economy]. Moscow: Publishing House of the Gaidar Institute, 256.
[14] Yasin, E.G. 2012. Stsenarii dlya Rossii na dolgosrochnuyu perspektivu. Novyy impuls cherez dva desyatiletiya [Scenarios for Russia for the Long Run. New Impetus after Two Decades]. Moscow: Publishing House of the HSE, 82.

*** Delovoy klimat v promyshlennosti v yanvare 2016 g. [Business Climate in Industry in January 2016]. 2016. Moscow: NRU HSE, 72.
*** Doklad ob ekonomike Rossii [Russia Economic Report]. 2015. The World Bank, 31.
*** Commodity Markets Outlook, 2015. New York: World Bank, 3-6.
*** Investitsionnaya aktivnost rossiyskikh promyshlennykh predpriyatiy v 2015 godu [Investment activity of Russian Industrial Enterprises in 2015], 2016. Moscow: NRU HSE, 71.
*** Kommentarii o gosudarstve i biznese [Comments on the Government and Business]. 2015. NRU HSE Center for Development, 105. http://opec.ru/data/2015/12/16/1233848633/KGB_105f.pdf (accessed 01.03.2016).
*** Kommentarii o gosudarstve i biznese [Comments on the Government and Business], 2015. NRU HSE Center for Development, 106. http://opec.ru/data/2016/01/22/1233863434/KGB_106f.pdf (accessed 01.03.2016).
Published
2017-03-02
How to Cite
BOLSHAKOV, Sergey Nikolaevich et al. Economic Policy in Russia: Factors and Constraints. Journal of Advanced Research in Law and Economics, [S.l.], v. 7, n. 7, p. 1646-1652, mar. 2017. ISSN 2068-696X. Available at: <https://journals.aserspublishing.eu/jarle/article/view/748>. Date accessed: 20 apr. 2024.