Development of the Russian Economy in the Medium Term: Risks and Opportunities

A. A. Shirov ()
Additional contact information
A. A. Shirov: Institute of Economic Forecasting, Russian Academy of Sciences

Studies on Russian Economic Development, 2023, vol. 34, issue 2, 159-166

Abstract: Abstract— The article examines the key risks of the development of the Russian economy in the medium term, resulting from the deterioration of trade and economic relations with developed countries. The most important changes in the model of functioning of the national economy are described. It is stated that restrictions on the supply of imported products have become the leading factor in the reduction of economic activity in 2022. The shifts in the formation of production, income and prices under the influence of sanctions are considered as a process of structural and technological restructuring of the Russian economy, requiring an increase in investment in the modernization of production and an increase in costs for research and development. The high dependence on imports and the technological backwardness of the Russian economy are seen as key constraints to its sustainable development in the medium term. One of the ways to compensate for the negative impact of sanctions, with a high probability, will be the replacement of high-quality resources with mass ones. It is emphasized that, taking into account the tasks of economic development, the period of loss of the quality of economic growth should not be long, and in the medium and long term, the qualitative component of growth should prevail in the formation of economic dynamics.

Keywords: economic growth; economic policy; sanctions; structural changes; economic forecast (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://link.springer.com/10.1134/S1075700723020120 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sorede:v:34:y:2023:i:2:d:10.1134_s1075700723020120

Ordering information: This journal article can be ordered from
https://www.springer ... nomics/journal/11507

DOI: 10.1134/S1075700723020120

Access Statistics for this article

Studies on Russian Economic Development is currently edited by Viktor V. Ivanter, Dmitrii B. Kuvalin and Galina A. Yaremenko

More articles in Studies on Russian Economic Development from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().