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Global Crisis and the Economic Policy Challenges of Modern Russia

Vladimir Mau () and Sergey Ulyukaev ()
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Sergey Ulyukaev: Russian Presidential Academy of National Economy and Public Administration (RANEPA)

Published Papers from Russian Presidential Academy of National Economy and Public Administration

Abstract: The global crisis creates a new economic and political agenda. It requires a rethinking of many of the conclusions of economic theory and practice, which is still considered to be accepted. The paper analyzes the key issues of economic development in the medium term. Among the important for the formation of a new model of economic growth problems are considered: the rate of growth and the likelihood of long-term stagnation, new challenges to macroeconomic policies in connection with a wide spread of its unconventional tools, inequality and economic growth, the contours of the new social state, perspectives of globalization, as well as re-industrialization in developed countries. On this basis, analyzes the nature and causes of the crisis in the Russian economy, compared crises 2008-2009 and 2014-2015 years., There are three main components of the latter. We consider the effects and impact of sanctions on the change in the economic situation in the country, the medium-term structural growth constraints. Examples of medium- and long-term measures that will help to reverse the current trends and bring the economy on the path of sustainable development.

Keywords: Russian economy; global crisis; economic policy (search for similar items in EconPapers)
JEL-codes: F34 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cis and nep-tra
Date: 2015-05-17
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