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A new growth model for the Russian economy1

Author

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  • Kudrin, Alexey
  • Gurvich, Evsey

Abstract

The problems underlying the current slowdown of the Russian economy are of a persistent nature and cannot be resolved with simple measures such as a softer monetary or fiscal policy. The fundamen- tal reason for these problems is the weak market environment dominated by public and quasi-public companies. A new growth model should be based upon strong incentive for the business, as well as the government regulation system, to improve efficiency. This article defines the main steps to be taken in building such a model.

Suggested Citation

  • Kudrin, Alexey & Gurvich, Evsey, 2015. "A new growth model for the Russian economy1," Russian Journal of Economics, Elsevier, vol. 1(1), pages 30-54.
    • Handle: RePEc:eee:rujoec:v:1:y:2015:i:1:p:30-54
    DOI: 10.1016/j.ruje.2015.05.002
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    1. Vanteeva, Nadia, 2016. "In the absence of private property rights: Political control and state corporatism during Putin's first tenure," Russian Journal of Economics, Elsevier, vol. 2(1), pages 41-55.
    2. Becker, Torbjörn, 2019. "Russia’s macroeconomy—a closer look at growth, investment, and uncertainty," SITE Working Paper Series 49, Stockholm School of Economics, Stockholm Institute of Transition Economics.
    3. Vitaliy Roud & Valeriya Vlasova, 2020. "Strategies of industry-science cooperation in the Russian manufacturing sector," The Journal of Technology Transfer, Springer, vol. 45(3), pages 870-907, June.
    4. Ketenci, Natalya, 2015. "Capital mobility in Russia," Russian Journal of Economics, Elsevier, vol. 1(4), pages 386-403.
    5. 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.
    6. Becker, Torbjörn, 2019. "Russia’s economy and regional spillovers," SITE Working Paper Series 48, Stockholm School of Economics, Stockholm Institute of Transition Economics.
    7. Allah Morad Seif & Hossein Panahi & Davoud Hamidi Razi, 2017. "An Estimation of The Impact of Economic Sanctions and Oil Price Shocks on Iran-Russian Trade: Evidence from a Gravity- VEC Approach," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 21(3), pages 469-497, Summer.
    8. Klimanov V. V. & Chernyshova N. A. & Nedopivtseva D. A., 2016. "The mechanisms of formation of strategic socio-economic priorities," World of economics and management / Vestnik NSU. Series: Social and Economics Sciences, Socionet, vol. 16(4), pages 80-92.
    9. Brock, Gregory, 2019. "A remote sensing look at the economy of a Russian region (Rostov) adjacent to the Ukrainian crisis," Journal of Policy Modeling, Elsevier, vol. 41(2), pages 416-431.
    10. Vlasova, Valeriya, 2021. "Industry-science cooperation and public policy instruments utilization in the private sector," Journal of Business Research, Elsevier, vol. 124(C), pages 519-528.
    11. Romanova, O. A. & Starikov, E. N., 2015. "Changes in the vector of industrial policy and possibilities for the innovative development of the industrial regions," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 1(3), pages 431-440.
    12. Yury B. Klyuev, 2018. "Goals and means of Russia’s economic development under the sixth technological wave," Journal of New Economy, Ural State University of Economics, vol. 19(6), pages 33-50, December.
    13. Živanović, Zora & Tošić, Branka & Berisha, Erblin & Perić, Ana, 2023. "An attempt to locate the Russian spatial planning system within the European planning families," Land Use Policy, Elsevier, vol. 127(C).
    14. Avdasheva, Svetlana & Orlova, Yulia, 2020. "Effects of long-term tariff regulation on investments under low credibility of rules: Rate-of-return and price cap in Russian electricity grids," Energy Policy, Elsevier, vol. 138(C).
    15. Polbin, Andrey V. (Полбин, Андрей В.), 2020. "Estimating Time-Varying Long-Run Growth Rate of Russian GDP in the ARX Model with Oil Prices [Оценка Траектории Темпов Трендового Роста Ввп России В Arx-Модели С Ценами На Нефть]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 40-63, February.

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    More about this item

    Keywords

    growth model; oil and gas revenues; soft budget constraints; incentives for growth.;
    All these keywords.

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • P4 - Political Economy and Comparative Economic Systems - - Other Economic Systems

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