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Stress Scenario Development: Global Challenges For The Russian Agricultural Sector

Author

Listed:
  • Ilya Kuzminov

    (National Research University Higher School of Economics)

  • Irina Loginova

    (National Research University Higher School of Economics)

  • Elena Khabirova

    (National Research University Higher School of Economics)

Abstract

This paper defines a stress scenario as a global or national business development leading to the scrapping of established trends as a result of one or several technological breakthroughs, which can combine with a number of events and factors unfavorable for the global or national economy. The paper presents an analysis of technological shifts in the global agricultural sector focused the impact of these development on the Russian economy. Special attention is paid to scenarios involving deviation from conventional trends, when the imbalance between production and consumption becomes particularly acute while the situation in global food markets changes quickly and significantly with serious consequences for the Russian economy. This remains dependent on developed countries, which are major suppliers of vital resources required for the Russian agricultural sector. Six stress scenarios for the Russian agricultural sector, if certain drivers are triggered, were developed. In contrast to conventional forecasts based on the trends formed in recent years, stress scenarios consider the disruption of such trends, which today are recognized by most experts as the most realistic

Suggested Citation

  • Ilya Kuzminov & Irina Loginova & Elena Khabirova, 2018. "Stress Scenario Development: Global Challenges For The Russian Agricultural Sector," HSE Working papers WP BRP 88/STI/2018, National Research University Higher School of Economics.
    • Handle: RePEc:hig:wpaper:88sti2018
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    stress scenarios; wildcards; black swans; weak signals; technological shifts; agricultural sector; food markets; text-mining.;
    All these keywords.

    JEL classification:

    • C55 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Large Data Sets: Modeling and Analysis
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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