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https://doi.org/10.1016/j.ruje.2015.05.003
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Global crisis and challenges for Russian economic development
[journal article]
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 financ... view more
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.... view less
Keywords
Russia; economic policy; crisis; globalization; economic growth
Classification
National Economy
Free Keywords
re-industrialization
Document language
English
Publication Year
2015
Page/Pages
p. 4-29
Journal
Russian Journal of Economics, 1 (2015) 1
ISSN
2618-7213
Status
Published Version; reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0