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The multilevel management system for Russian economy amid sanctions

Author

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  • Evgeny V. Balatsky

    (Central Economics and Mathematics Institute of RAS, Moscow, Russia)

Abstract

In the face of large-scale international sanctions imposed by the collective West against Russia, it becomes imperative to reevaluate the conventional framework for guiding the Russian economy amid the emerging challenges and limitations. The article explores a multilevel system for managing Russian economy in the context of the global confrontation. The methodological foundation resides in the selective “incremental changes ideology” emphasising the necessity for disaggregation and decentralisation of economic policies to maximise the timeliness of managerial decisions. This approach contrasts with the holistic “total regulation ideology”, which focuses on the national development strategy on planning and reaching aggregate economic indicators. The paper applies the methods of traditional structural cybernetic and graphical modelling of social systems allowing for the specificities of the external environment. The evidence comes from a cluster of the most recent studies approaching the role of the international sanctions phenomenon in building an efficient national economy from different angles. The author presents an original graphical four-circuit concentric model complemented by a functional description of its constituent circuits (the core, priority industries, new production, and supporting industries) and management methods. The article provides examples of the management measures (massive centralised lending for new microchip production, creation of the state corporation Rospharma, etc.) that can be implemented within the four circuits of the model. These measures can be both soft (‘weak’) and hard (‘strong’) depending on whether they reject or take on administrative enforcement. It is noteworthy that the selective governance model will gradually evolve into a holistic model over time.

Suggested Citation

  • Evgeny V. Balatsky, 2024. "The multilevel management system for Russian economy amid sanctions," Journal of New Economy, Ural State University of Economics, vol. 25(2), pages 6-26, July.
  • Handle: RePEc:url:izvest:v:25:y:2024:i:2:p:6-26
    DOI: 10.29141/2658-5081-2024-25-2-1
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    References listed on IDEAS

    as
    1. Evgeny V. Balatsky & Natalia A. Ekimova, 2023. "Antifragility of the national economy: A heuristic assessment," Journal of New Economy, Ural State University of Economics, vol. 24(2), pages 28-49, July.
    2. Evgeny V. Balatsky & Nataly A. Ekimova, 2023. "Monetary policy on launching new production facilities in Russia: Opportunities in the semiconductor market," Upravlenets, Ural State University of Economics, vol. 14(5), pages 16-28, November.
    3. Marcus Noland, 2019. "North Korea: Sanctions, Engagement and Strategic Reorientation," Asian Economic Policy Review, Japan Center for Economic Research, vol. 14(2), pages 189-209, July.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    mobilisation economy; selective governance model; holistic governance model; international sanctions; antifragility of economy; Russian economy;
    All these keywords.

    JEL classification:

    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions

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