Where the Fate is Taking Us? The Russian Economy in 2011

Viktor Starodubovskij ()
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Viktor Starodubovskij: Gaidar Institute for Economic Policy

Ekonomicheskaya Politika / Economic Policy, 2012, 157—204

Abstract: The first part of the paper examines the specific mode of the development of Russian economy in 2010—2011. Its main features are: instability, uncertainty of economic dynamics, including investment and consumer demand. These features are not caused only by the problems in the global economy. The main barrier to the development — the poor state of institutional, entrepreneurial climate, resulting in an outflow of capital from the country. It is shown that measures to improve the business climate were predominantly imitative in nature and the danger remains. The undue risks are rised by the implementation of election promises to increase budget spendings, which can be provided only at extremely high prices for energy exports. The author also consideres the main problems of the world economy, creating unfavorable external conditions for domestic production. It is pointed out that recently one can see the signs of a transition to more sustainable development.

Keywords: instability; economic performance; investment demand; business climate; the outflow of capital expenditures budget populism (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:rnp:ecopol:ep1226

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