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Long-term Development: from a System of Challenges Towards Policy Determinants

Author

Listed:
  • Belousov, D.

    (Center for Macroeconomic Analysis and Short-term Forecasting, Moscow, Russia)

Abstract

We outline several internal and external challenges for Russian long-term development. We argue that those challenges are potent to exhaust competitive advantages of Russian economy and to lead to long-term stagnation. Low economic growth will hamper development at the areas of welfare, infrastructure modernization, will prevent creating the potential for the future and defense capabilities. This situation calls for a new economic policy framework, which should be designed on the basis of dialogue with business and external actors and provide for own long-term agenda and responsibilities. The new industrialization could stand at the core of such an agenda.

Suggested Citation

  • Belousov, D., 2015. "Long-term Development: from a System of Challenges Towards Policy Determinants," Journal of the New Economic Association, New Economic Association, vol. 26(2), pages 201-204.
    • Handle: RePEc:nea:journl:y:2015:i:26:p:201-204
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    More about this item

    Keywords

    long-term development; challenges; role of the government; economic growth;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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