What question did this study set out to answer?

The aim is to address the persistent issues contributing to the slowdown of the Russian economy through a new growth model.

March 1, 2015Open Access

A new growth model for the Russian economy1

AKA. KudrinNew Economic School EGE. GurvichAustralian National University

Key Points

The aim is to address the persistent issues contributing to the slowdown of the Russian economy through a new growth model.
Analyzed the current economic slowdown and its underlying causes
Identified the role of public and quasi-public companies in the market environment
Outlined necessary steps for building a more effective growth model
Proposes a shift towards stronger business incentives to stimulate economic growth
Suggests improvements in government regulation systems for enhanced efficiency
Highlights that simple monetary or fiscal measures are insufficient for resolving economic issues

Abstract

The problems underlying the current slowdown of the Russian economy are of a persistent nature and cannot be resolved with simple measures such as a softer monetary or fiscal policy. The fundamen- tal reason for these problems is the weak market environment dominated by public and quasi-public companies. A new growth model should be based upon strong incentive for the business, as well as the government regulation system, to improve efficiency. This article defines the main steps to be taken in building such a model.

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