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The Russian Economy in the Context of the World Energy Markets Development

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  • V. Mironov
  • S. Pukhov

Abstract

The tendencies and prospects of the Russian economy development as an energy net-exporter country are considered in the context of perspective supply-demand dynamics in the world energy markets. Medium- and long-term prospects of oil and gas prices dynamics as one of the key factors of economic growth in Russia in the post-crisis period are analyzed. It is shown that due to predicted slowing of the world energy demand growth rates and strengthening in this connection of the competition in the traditional Russian markets the dual Russian economy character (it is not only a producer, but also a rather intensive consumer of energy) makes the problem of internal economy diversification very urgent. A conclusion is made that it is necessary to carry out preventive measures aimed at accelerated transformation of the Russian gas sector (or in addition to the oil sector) into a major factor of economic growth.

Suggested Citation

  • V. Mironov & S. Pukhov, 2006. "The Russian Economy in the Context of the World Energy Markets Development," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 8.
    • Handle: RePEc:nos:voprec:y:2006:id:1776
    DOI: 10.32609/0042-8736-2006-8-119-136
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