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Russian economic policy: Challenges of growth


  • Vladimir Mau

    () (Russian Presidential Academy of National Economy and Public Administration, Moscow, Russia)


The paper discusses the main challenges of Russian economy at the turning period from contraction to growth. The analysis is based on comparison of global economic trends and special features of Russian performance. Among global problems, it concentrates on prospects of “non-inflation growth”, perspectives of global currencies and the role of cryptocurrencies, central banks independence and their role in economic growth stimulation, new tasks and patterns of government regulation, inequality and growth. In the Russian case, the key topics are prospects of macroeconomic stimulation of growth, inflation targeting, new fiscal rule, social dynamics and new challenges to welfare state. The paper concludes that the main obstacles for economic growth in Russia are concentrated in the non-economic area.

Suggested Citation

  • Vladimir Mau, 2018. "Russian economic policy: Challenges of growth," Russian Journal of Economics, ARPHA Platform, vol. 4(2), pages 87-107, June.
  • Handle: RePEc:arh:jrujec:v:4:y:2018:i:2:p:87-107
    DOI: 10.3897/j.ruje.4.27743

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    References listed on IDEAS

    1. Sinelnikov-Murylev, Sergei (Синельников-Мурылев, Сергей) & Drobyshevskiy, Sergei (Дробышевский, Сергей) & Kazakova, Maria (Казакова, Мария), 2014. "Decomposition of the russian GDP growth rate in 1999-2014
      [Декомпозиция Темпов Роста Ввп России В 1999—2014 Годах]
      ," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 5, pages 7-37, October.
    2. Sergey Sinelnikov-Murylev & Sergey Drobyshevsky & Maria Kazakova & Michael Alexeev, 2016. "Decomposition of Russia's GDP Growth Rates," Research Paper Series, Gaidar Institute for Economic Policy, issue 167P, pages 123-123.
    3. P. Kadochnikov & A. Knobel & S. Sinelnikov-Murylev., 2016. "Openness of the Russian economy as a source of economic growth," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 12.
    4. Sergey Drobyshevsky & Maria Kazakova, 2014. "Decomposition Of Russia’S Gdp Growth In 1999-2014," Russian Economic Developments, Gaidar Institute for Economic Policy, issue 11, pages 63-66, November.
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    More about this item


    economic policy; structural crisis; social state; new model of growth; Russia;

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development


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