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Economic development and the rise of Russia under sanctions

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  • S. S. Repin

Abstract

Comparative study of the macroeconomical development of Russia during the sanctions period through comparative and statistical analysis of the dynamics of the main macro indicators, which allows analyzing the economic development of a country under sanctions and getting a new idea of how the country functions in this changing reality. The modern world economy is going through a period of sanctions wars between countries, which are conducted openly or secretly with the help of international institutions. In this regard, it is becoming increasingly useful to analyze the economic development of countries under sanctions in order to gain a new understanding of how countries function in this changing reality. Comparative study of the macroeconomical development of Russia during the sanctions period by means of comparative and statistical analysis of the dynamics of the main macro indicators, including growth rates and the value of GDP for the base period, consumer spending, gross capital accumulation, exports, imports, etc. Theoretically, the description of sanctions as a tool for harming economic development is chosen as a methodology for international comparisons and analysis of statistical data that can be used to assess various sanctions against economic development. The analysis of empirical data does not reveal a clear connection between the dynamics of indicators and the imposition of sanctions, which is confirmed by an empirical analysis of the available data. Countries are forced to achieve their economic development goals in conditions of severe restrictions that do not restrain other countries. This fact adds to the specifics of the current global market and the ongoing market competition.

Suggested Citation

  • S. S. Repin, 2023. "Economic development and the rise of Russia under sanctions," Scientific notes of the Russian academy of entrepreneurship, JSC “Publishing Agency “Science and Educationâ€, vol. 22(1).
    • Handle: RePEc:cvt:journl:y:2023:id:782
    DOI: 10.24182/2073-6258-2023-22-1-20-24
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