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Global crisis and challenges for Russian economic development

Author

Listed:
  • Mau, Vladimir
  • Ulyukaev, Alexey
Abstract
Global crisis forms new economic policy agenda which raises new questions for economic theory and economic thinking. This paper deals with these new intellectual challenges. Among them: growth theory and the risks of secular stagnation, unconventional macroeconomic policy and the prospects of financial stability, inequality and growth, the new welfare state, the prospects of globalization vs. de-globalization, and the re-industrialization in advanced economies. Based on the analysis of global trends, the paper discusses the roots and features of current Russian economic problems, compares the 2008–2009 and 2014–2015 crises, and factorizes the last one on three main components. The analysis includes the effects of sanctions against Russia on the current economic situation and the structural problems that slow down economic growth. Special attention is paid to examples of medium-term and long-term steps that can provide sustainable development for the Russian economy.

Suggested Citation

  • Mau, Vladimir & Ulyukaev, Alexey, 2015. "Global crisis and challenges for Russian economic development," Russian Journal of Economics, Elsevier, vol. 1(1), pages 4-29.
    • Handle: RePEc:eee:rujoec:v:1:y:2015:i:1:p:4-29
    DOI: 10.1016/j.ruje.2015.05.003
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    References listed on IDEAS

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    Cited by:

    1. A.M. Chernopiatov & L.A. Akhmetov & D.M. Djuraev, 2018. "Peculiarities Of State Property In The Economy Of Russia," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 18(2), pages 43-52.
    2. Aldis Bulis & Sajal Kabiraj & Md Nur Alam Siddik, 2018. "Economic Cooperation Between Latvia and China on the Background of Belt and Road Initiative with Focus on Cargo Potential," FIIB Business Review, , vol. 7(2), pages 80-87, June.
    3. Alexander N. Alekseev & Aleksei V. Bogoviz & Ludmila P. Goncharenko & Sergey A. Sybachin, 2019. "A Critical Review of Russia s Energy Strategy in the Period until 2035," International Journal of Energy Economics and Policy, Econjournals, vol. 9(6), pages 95-102.
    4. Tatiana Beliaeva & Galina Shirokova & William Wales & Elena Gafforova, 2020. "Benefiting from economic crisis? Strategic orientation effects, trade-offs, and configurations with resource availability on SME performance," International Entrepreneurship and Management Journal, Springer, vol. 16(1), pages 165-194, March.
    5. Ehsan Rasoulinezhad, 2018. "A new evidence from the effects of Russia’s WTO accession on its foreign trade," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 8(1), pages 73-92, April.

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    More about this item

    Keywords

    economic policy; economic growth; crisis; globalization; re-industrialization; Russia.;
    All these keywords.

    JEL classification:

    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • P17 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Performance and Prospects
    • P27 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Performance and Prospects

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