IDEAS home Printed from https://ideas.repec.org/a/spr/sorede/v31y2020i1d10.1134_s1075700720010062.html
   My bibliography  Save this article

On Overcoming Russia’s Challenges

Author

Listed:
  • V. K. Fal’tsman

    (Russian Presidential Academy of National Economy and Public Administration)

Abstract

— The article considers the issues of overcoming the emerging challenges that may cause problems for Russia’s development in the long term (forecast for the period up to 2040–2045): a) reduction of oil extraction and revenues from oil exports; b) entanglement in a new round of the arms race; c) increase in serious competition with Chinese producers in the domestic and foreign markets. Measures of avoiding falling into the oil trap are considered. The necessity of preventing a new round of the arms race is substantiated with evidence that getting entangled in it could weaken the economy to the point of zero and negative GDP growth rates, which in unfavorable scenarios may threaten the integrity of the state. The article considers the problems of adapting the economy to the upcoming reduction of oil extraction, the options of compensating for the declining revenues from oil exports with other goods and services, the prospects for diversification of defense spending, and the issue of normalizing the growing competition with Chinese producers. The objective of raising economic growth rates above the current zero level requires an institutional reform of small and medium-sized businesses, a diversification of economic sectors, especially defense, and, in the longer term, implementing national projects aimed at accumulating potential human capital that can eventually be realized.

Suggested Citation

  • V. K. Fal’tsman, 2020. "On Overcoming Russia’s Challenges," Studies on Russian Economic Development, Springer, vol. 31(1), pages 44-51, January.
    • Handle: RePEc:spr:sorede:v:31:y:2020:i:1:d:10.1134_s1075700720010062
    DOI: 10.1134/S1075700720010062
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1134/S1075700720010062
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1134/S1075700720010062?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. A. A. Makarov & T. A. Mitrova, 2018. "Strategic Development Outlook for the Energy Complex of Russia," Studies on Russian Economic Development, Springer, vol. 29(5), pages 514-526, September.
    2. V. G. Basareva, 2017. "Small businesses in a system of measures aimed at recovering the trajectory of economic growth," Studies on Russian Economic Development, Springer, vol. 28(5), pages 521-527, September.
    3. V. K. Fal’tsman & M. V. Krakhina, 2019. "On the Concept of Structural Policy for the Long Term Perspective," Studies on Russian Economic Development, Springer, vol. 30(3), pages 245-251, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Valeriy V. Iosifov & Pavel D. Ratner, 2021. "Climate Policies of G20 and New Threats for Russian Energy and Transportation Complex," International Journal of Energy Economics and Policy, Econjournals, vol. 11(1), pages 478-486.
    2. V. K. Fal’tsman, 2019. "Problems of Forecasting in Small and Medium Business," Studies on Russian Economic Development, Springer, vol. 30(1), pages 10-14, January.
    3. K. A. Karpov, 2019. "Development Trends of Global Energy Consumption," Studies on Russian Economic Development, Springer, vol. 30(1), pages 38-43, January.
    4. Svetlana Balashova & Svetlana Ratner & Konstantin Gomonov & Andrey Berezin, 2020. "Modeling Consumer and Industry Reaction to Renewable Support Schemes: Empirical Evidence from the USA and Applications for Russia," International Journal of Energy Economics and Policy, Econjournals, vol. 10(3), pages 158-167.
    5. Svetlana V. Ratner & Evgenii Yu. Khrustalev & Sergey N. Larin & Oleg E. Khrustalev, 2020. "Does the Development of Renewable Energy and Smart Grids Pose Risks for Russian Gas Projects? Scenario Forecast for Partner Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 10(1), pages 286-293.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sorede:v:31:y:2020:i:1:d:10.1134_s1075700720010062. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.