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Challenges to Economic Growth of the Republic of Belarus in the New Reality

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  • A. V. Gotovsky

    (Institute of Economics of the National Academy of Sciences of Belarus)

Abstract

The article analyzes the economic growth model of the Republic of Belarus that has emerged on the eve of 2022. The contributions of labor and capital are determined taking into account their different impacts at the level of individual sectors of the economy and manufacturing industry. The leading role of structural changes, the relationship with focus on final sales markets and key foreign trade areas, differences in the efficiency of production chains and product sales, investment features in different industries, and the results of increasing real labor productivity are shown. Taking into account the new realities that have had a strong impact on the sources of this growth model, questions are being raised about the future strategy of the Republic of Belarus, based on interaction with the main foreign trade partner, which today is the Russian Federation, in the context of developing a joint forecast for the socio-economic development of the Union State of Russia and Belarus.

Suggested Citation

  • A. V. Gotovsky, 2025. "Challenges to Economic Growth of the Republic of Belarus in the New Reality," Studies on Russian Economic Development, Springer, vol. 36(1), pages 21-34, February.
    • Handle: RePEc:spr:sorede:v:36:y:2025:i:1:d:10.1134_s1075700724700497
    DOI: 10.1134/S1075700724700497
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    References listed on IDEAS

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    1. Joan Robinson, 1953. "The Production Function and the Theory of Capital," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 21(2), pages 81-106.
    2. A. V. Gotovsky, 2024. "The Role of External and Internal Markets in the Economic Growth Models of Belarus and Russia," Studies on Russian Economic Development, Springer, vol. 35(6), pages 788-799, December.
    3. Nauro F. Campos & Abrizio Coricelli, 2002. "Growth in Transition: What We Know, What We Don't, and What We Should," Journal of Economic Literature, American Economic Association, vol. 40(3), pages 793-836, September.
    4. Jesus C. Dumagan, 2013. "A Generalized Exactly Additive Decomposition of Aggregate Labor Productivity Growth," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 59(1), pages 157-168, March.
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