Change of the economic model of Russia’s development as a response to the new geo-economic reality
https://doi.org/10.26794/2220-6469-2023-17-1-45-55
Abstract
The sanctions war against Russia unleashed by Western countries led by the United States forms a new geopolitical reality for the country. In fact, an economic war has been declared against Russia, the main instruments of which are the country’s cut off from the global financial system, the closure of the most important markets for the Russian main export products and the embargo on the machinery and equipment import to the country, which is essential for various sectors of the Russian economy. The sanctions imposed on the country pose both short-term and long-term threats. The first ones are associated with the degradation of the current economic situation, but can be overcome within a few years. The other ones may have delayed but deeper negative consequences for the economy, as they are aimed at undermining its technological competitiveness and investment process, thus increasing the threat of the prolonged stagnation of the national economy. Overcoming such threats takes a long time and transformation of the country’s export-oriented raw material model of the economy based on the activation of structural, scientific, technological and investment policy. The article discusses possible approaches to the implementation of such a transition.
Keywords
sanctions,
systemic threats,
scenarios of socio-economic development,
structural priorities,
credit issue
Supporting agencies: The article was prepared based on the results of research carried out at the expense of budgetary funds under the state assignment to the Financial University
About the Authors
V. I. Filatov
Institute of Economics of the Russian Academy of Sciences
Russian Federation
Russian Federation
Vladimir I. Filatov — Dr. Sci. (Econ.), Leading Researcher at the Center for Innovative Economics and Industrial Policy
Moscow
S. A. Pobyvaev
Financial University
Russian Federation
Russian Federation
Sergey A. Pobyvaev — Cand. Sci. (Econ.), Leading Researcher, Center for Strategic Forecasting and Planning, Institute for Economic Policy and Economic Security Problems, Department of Economic Security and Risk Management, Faculty of Economics and Business
Moscow
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Review
For citations:
Filatov V.I., Pobyvaev S.A. Change of the economic model of Russia’s development as a response to the new geo-economic reality. The world of new economy. 2023;17(1):45-55. https://doi.org/10.26794/2220-6469-2023-17-1-45-55
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