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Foreign economic policy in retrospective: advancement towards the open economy

Author

Listed:
  • Vladimir Petrovich Obolenskiy

    (Institute of Economics, RAS, Moscow, Russia)

Abstract

The article deals with the process of establishment and subsequent modification of mechanisms and tools for management of foreign trade policy during the whole period of the market transformation of the Russian economy. Over of course of its two stages - spontaneous liberalization of the nineties and catch-up liberalization of the beginning of the century - the domestic economy has gradually transformed from the close one into the open and very sensitive to fluctuations in external demand, world prices and foreign exchange rates. The comparative analysis allows to estimate the current state of the openness of the Russian economy. The article identifies the factors that might slow down implementation of the policy towards further progress in the openness of the economy proclaimed by the government, which implies participation in preferential trade agreements while maintaining a primary focus in the integrational policy towards Eurasian economic union.

Suggested Citation

  • Vladimir Petrovich Obolenskiy, 2018. "Foreign economic policy in retrospective: advancement towards the open economy," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 1, pages 78-90, January.
    • Handle: RePEc:alq:rufejo:rfej_2018_01_78-90
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