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Energy Sector of the Russian Federation in the Context of Macroeconomic Instability

Author

Listed:
  • Oksana V. Savchina

    (Department of Finance and Credit, Economic Faculty, Peoples Friendship University of Russia (RUDN University), Moscow, Russian Federation,)

  • Olga V. Savchina

    (Department of Accounting, Audit and Statistics, Economic Faculty, Peoples Friendship University of Russia (RUDN University), Moscow, Russian Federation,)

  • Anastasia V. Asinovich

    (Master Degree Program s Student, Economic Faculty, Peoples Friendship University of Russia (RUDN University), Moscow, Russian Federation,)

  • Maksim A. Kosyakov

    (Department of Marketing, Economic Faculty, Peoples Friendship University of Russia (RUDN University), Moscow, Russian Federation)

  • Alexander L. Bobkov

    (Deputy Head of Academic office, Associate Professor of the Department of Industrial Economics, Plekhanov Russian University of Economics(PRUE), Moscow, Russian Federation)

Abstract

Electric power is one of the leading industries in the modern economy: It has a direct impact on all vital systems of the society, as well as on the formation of the social climate and on the economic development of any state. The current economic crisis and sanctions on behalf the US and the EU have significantly complicated the activities of Russian energy enterprises, thus, the government plays a key role in combating the crisis in this industry. Based on official statistical data, the article presents the results of complex analysis of the industry and defines the basic tendencies of its development. According to the results of the conducted research, it is revealed that in the past 3 years the performance indicators for electricity and heat production have deteriorated, the manageability of the functioning of energy systems has decreased, and the need for new technologies has increased.

Suggested Citation

  • Oksana V. Savchina & Olga V. Savchina & Anastasia V. Asinovich & Maksim A. Kosyakov & Alexander L. Bobkov, 2017. "Energy Sector of the Russian Federation in the Context of Macroeconomic Instability," International Journal of Energy Economics and Policy, Econjournals, vol. 7(5), pages 28-33.
    • Handle: RePEc:eco:journ2:2017-05-4
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    References listed on IDEAS

    as
    1. Katarzyna Piechota, 2013. "Global Energy Crisis And Renewable Energy Sources," Working Papers 11/2013, Institute of Economic Research, revised May 2013.
    2. Narayan, Paresh Kumar & Popp, Stephan, 2012. "The energy consumption-real GDP nexus revisited: Empirical evidence from 93 countries," Economic Modelling, Elsevier, vol. 29(2), pages 303-308.
    3. Apergis, Nicholas & Payne, James E., 2009. "Energy consumption and economic growth in Central America: Evidence from a panel cointegration and error correction model," Energy Economics, Elsevier, vol. 31(2), pages 211-216.
    4. Vatansever, Adnan, 2017. "Is Russia building too many pipelines? Explaining Russia's oil and gas export strategy," Energy Policy, Elsevier, vol. 108(C), pages 1-11.
    5. Michael Levi, 2013. "Climate consequences of natural gas as a bridge fuel," Climatic Change, Springer, vol. 118(3), pages 609-623, June.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Elvir Akhmetshin & Sergey Zhiltsov & Anna Dmitrieva & Andrei Plotnikov & Angelina Kolomeytseva, 2019. "The Formation of the Contemporary Renewable Energy Sector and its Role in the Industry Development," International Journal of Energy Economics and Policy, Econjournals, vol. 9(6), pages 373-378.
    2. Oksana V. Savchina & Dmitriy A. Pavlinov & Olga V. Savchina, 2021. "Financial Stability of Electricity Companies in the Context of the Macroeconomic Instability and the COVID-19 Pandemic," International Journal of Energy Economics and Policy, Econjournals, vol. 11(5), pages 85-98.
    3. Olga Yu. Gorodetskaya & Gulnara I. Alekseeva & Kira A. Artamonova & Natalia A. Sadovnikova & Svetlana G. Babich & Elvira N. Iamalova & Anatoliy M. Tarasov, 2021. "Investment Attractiveness of the Russian Energy Sector MNCs: Assessment and Challenges," International Journal of Energy Economics and Policy, Econjournals, vol. 11(2), pages 199-207.

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    More about this item

    Keywords

    state regulation; market failure; macroeconomic indicators; energy; sanctions; crisis; electricity; state support;
    All these keywords.

    JEL classification:

    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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