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Global crisis and challenges for Russian economic development

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  • Mau, Vladimir
  • Ulyukaev, Alexey

Abstract

Global crisis forms new economic policy agenda which raises new questions for economic theory and economic thinking. This paper deals with these new intellectual challenges. Among them: growth theory and the risks of secular stagnation, unconventional macroeconomic policy and the prospects of financial stability, inequality and growth, the new welfare state, the prospects of globalization vs. de-globalization, and the re-industrialization in advanced economies. Based on the analysis of global trends, the paper discusses the roots and features of current Russian economic problems, compares the 2008–2009 and 2014–2015 crises, and factorizes the last one on three main components. The analysis includes the effects of sanctions against Russia on the current economic situation and the structural problems that slow down economic growth. Special attention is paid to examples of medium-term and long-term steps that can provide sustainable development for the Russian economy.

Suggested Citation

  • Mau, Vladimir & Ulyukaev, Alexey, 2015. "Global crisis and challenges for Russian economic development," Russian Journal of Economics, Elsevier, vol. 1(1), pages 4-29.
  • Handle: RePEc:eee:rujoec:v:1:y:2015:i:1:p:4-29
    DOI: 10.1016/j.ruje.2015.05.003
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    File URL: http://www.sciencedirect.com/science/article/pii/S2405473915000045
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    References listed on IDEAS

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    Cited by:

    1. A.M. Chernopiatov & L.A. Akhmetov & D.M. Djuraev, 2018. "Peculiarities Of State Property In The Economy Of Russia," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 18(2), pages 43-52.
    2. Alexander N. Alekseev & Aleksei V. Bogoviz & Ludmila P. Goncharenko & Sergey A. Sybachin, 2019. "A Critical Review of Russia’s Energy Strategy in the Period until 2035," International Journal of Energy Economics and Policy, Econjournals, vol. 9(6), pages 95-102.
    3. Ehsan Rasoulinezhad, 2018. "A new evidence from the effects of Russia’s WTO accession on its foreign trade," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 8(1), pages 73-92, April.

    More about this item

    Keywords

    economic policy; economic growth; crisis; globalization; re-industrialization; Russia.;

    JEL classification:

    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • P17 - Economic Systems - - Capitalist Systems - - - Performance and Prospects
    • P27 - Economic Systems - - Socialist Systems and Transition Economies - - - Performance and Prospects

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