The Problem of Factors that Determine the Economic Development of Modern Russia

2018 ◽  
pp. 37-41
Author(s):  
Елена Басовская ◽  
Elena Basovskaya ◽  
Леонид Басовский ◽  
Leonid Basovskiy
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Growth Rates ◽  
World Economy ◽  
Political Factors ◽  
The World ◽  
Before And After ◽  
Economic Growth Rates ◽  
The Impact ◽  
To Receive

In the economy of Russia after the crisis of 2008–2009 systemic changes were occurred. In the period before this crisis, Russia experienced economic growth, which was faster than the growth rate of the world economy, then after the crisis, economic growth rates do not exceed the growth rates of the world economy. To identify the reasons and factors for changing the model of economic development of the country, a project for researching the economy before and after the crisis of 2008–2009 is proposed. It is proposed to receive quantitative assessments of the impact of economic, socio-economic, political factors and other significant factors that determine productivity, differing by region of the country, by building econometric models of productivity in the form of expanded production functions.

New Tendency of the World Economy Development

2019 ◽  
Vol 7 (2) ◽  
pp. 4-8
Author(s):  
Леонид Басовский ◽  
Leonid Basovskiy ◽  
Елена Басовская ◽  
Elena Basovskaya
Keyword(s):  
Economic Growth ◽  
Growth Rates ◽  
World Economy ◽  
Modern World ◽  
Information Economy ◽  
Interconnected System ◽  
The World ◽  
Economic Growth Rates ◽  
Post Industrial ◽  
The Impact

Starting from the 21st century, a new phenomenon has discovered in the world economy - a trend has emerged to form a single world closely interconnected economic system. The formation of a closely interconnected system of the world economy is due to the proliferation of new technological structures, the structures of the new post-industrial, information economy. It is confirmed by an estimate of the average values of the coefficient of correlation of the rates of economic growth of 180 countries of the modern world over ten-year periods. The link between the economic growth rates of the countries of the world began to take shape at the beginning of the XXI century, as evidenced by the increase in the correlation coefficient of the economic growth rates of the countries of the modern world to significant values. The impact of the proliferation of new technological structures, new, post-industrial, information economy structures on the formation of a closely interconnected world economy system is confirmed by the estimates of the correlation between the economic growth rates of the USA, EU, Japan, India and China.

scholarly journals Classification of integration associations according to the degree of development of a single transport space

2019 ◽  
Vol 27 (2) ◽  
pp. 375-385
Author(s):  
Mikhail S Komov
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Growth Rates ◽  
World Economy ◽  
Transport Sector ◽  
Special Importance ◽  
The World ◽  
Definition Of ◽  
Negative Growth

In modern conditions of development of integration processes in the world economy, special importance is attached to the transport sector. The formation of a single transport space (STS) in the regions creates additional opportunities for the economic development of the integrating countries. At the same time, the literature does not pay enough attention to the definition of the essence of the single transport space and the classification of integration associations according to the degree of its development. Therefore, there is a need to develop such a classification. The article substantiates the expediency of classification of integration associations according to the degree of development of a single transport space. The author's formal-logical classification is developed, which is based on three basic types of a single transport space: transport and logistics type provide a positive multiplier of integrated economic growth for all participating countries; innovative-logistic and customs-logistic types cause polarization in the action of the multiplier of integrated economic growth (in particular, both positive and negative growth rates of GDP values of the participating countries are possible); industrial and logistics type provide a zero multiplier of integrated economic growth for all participating countries. The conclusion is made about the possibility of unification and harmonization of transport space in the practice of integration associations on the basis of the developed classification.

Social Capital as a Factor of Economic Growth in the Regions of Russia

2019 ◽  
Vol 14 (5) ◽  
pp. 124-149 ◽  
Keyword(s):  
Economic Growth ◽  
Social Capital ◽  
Economic Development ◽  
Growth Rates ◽  
Generalized Method Of Moments ◽  
Sociocultural Factors ◽  
Russian Regions ◽  
Least Squares Regression ◽  
Economic Growth Rates ◽  
The Impact

This paper examines the influence of sociocultural factors of economic growth on economic development of the Russian regions. The article analyses the influence of various forms of social capital according to James Coleman (norms of trust between individuals, horizontal ties, social norms and values) on economic growth rates of the Russian regions. The paper uses an augmented neoclassical model of economic growth to test the hypotheses about the impact of the initial social capital distribution on the subsequent GRP growth rates in 2007–2016. Particular attention is paid to the selection of relevant tools for measuring the level of social capital of the Russian regions. The empirical specifications of the proposed theoretical model of regional economic growth were evaluated using the two-stage least squares regression (2SLS); the robustness check was carried out using the system generalized method of moments (system GMM). The results of econometric analysis show that the initial spatial distribution of generalized trust does not have a statistically signifi cant effect on economic development. At the same time, the activity of lobbying groups (Olson groups) reduces the rate of economic growth in the regions of the Russian Federation. Increasing the level of civic cooperation (the willingness of citizens to unite to solve their own or social problems in the region) is associated with higher rates of economic development. For the selected study period, the economic signifi cance of sociocultural factors is marginal relative to the significance of the fundamental neoclassical growth factors. Unlocking the potential of sociocultural factors of economic growth may suggest activating the processes of structural transformation of the Russian economy by increasing the economic importance of the private sector and SME segment.

Turning points in the economic development of South-American countries

10.12737/1471 ◽  
2013 ◽  
Vol 1 (4) ◽  
pp. 11-14 ◽  
Author(s):  
Басовский ◽  
Leonid Basovskiy
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Economic Development ◽  
Growth Rates ◽  
World Economy ◽  
Turning Points ◽  
South American ◽  
Theory Approach ◽  
The World ◽  
Trading Partners

Growth rates of the South-American economies are assessed against the world economy growth rate. Turning points in economic development are identified based on the catastrophe theory approach, namely, by evaluating variances in the rates of economic growth. Turning points of economic growth are identified for the world economy and also for Brazil, Venezuela, Colombia and Chile. The said countries have grown faster than the world economy: Chile, Colombia and Venezuela have demonstrated the 4,5–5,5% growth rate, and Brazil – 3%. In terms of growth sustainability the said four countries could be ranged as follows (in descending order): Colombia, Brazil, Chile, Venezuela. All the four could be prospective business and trading partners. In terms of economic growth rates and sustainability or growth the most promising partners are Colombia and Brazil, followed by Chile and Venezuela as slightly less promising partners

The Problem of Factors of Economic Growth in Modern Russia

2018 ◽  
Vol 6 (5) ◽  
pp. 29-31
Author(s):  
Леонид Басовский ◽  
Leonid Basovskiy ◽  
Елена Басовская ◽  
Elena Basovskaya
Keyword(s):  
Economic Growth ◽  
Growth Rates ◽  
Social Factors ◽  
World Economy ◽  
Econometric Models ◽  
Capital Account ◽  
Economic Factors ◽  
Russian Economy ◽  
The World ◽  
Economic Growth Rates

In the Russian economy after the crisis of 2008–2009 systemic changes have been occurred. In the period before this crisis, Russia experienced economic growth, which was faster than the growth rate of the world economy, then after the crisis, economic growth rates do not exceed the growth rates of the world economy. The use of econometric models of economic growth made it possible to establish the following. Changes in traditional growth factors — labor and capital — account for only 11% of the economic growth before the crisis, and only 3% after the crisis of 2018–2009. Obviously, the change in the rates of economic growth in modern Russia is due to other economic factors, factors related to human capital, innovations, institutional, political, social factors.

scholarly journals Improving the Efficiency of the Russian Budgetary Policy in the Context of Economic Growth Fueling

2019 ◽  
Vol 12 (1) ◽  
pp. 47-56
Author(s):  
N. N. Semenova ◽  
O. I. Eremina ◽  
G. V. Morozova ◽  
Yu. Yu. Filichkina
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Economic Development ◽  
Growth Rates ◽  
Government Spending ◽  
Government Expenditures ◽  
Budgetary Policy ◽  
The Russian Federation ◽  
Economic Growth Rates ◽  
The Impact

In modern life, the budgetary policy is a crucial tool for financial regulation of the Russian economic development from the standpoint of ensuring stable growth rates. The importance of the budgetary policy for the sustainable economic development is determined by the following factors: first, at the macroeconomic level it helps to achieve macroeconomic stability (a necessary condition for economic growth); second, at the microlevel it stimulates investment, accumulation of human capital and the increase in factor productivity. The state influences the economic growth rates and quality through productive expenditures as one of the most important components of aggregate demand.The subject of the researchis the impact of productive government expenditures on the economic growth rates in the Russian Federation at the stages of crisis and post-crisis development of the national economy (2008–2016).The purpose of the researchwas to assess the budgetary policy of the Russian Federation in the context of boosting the economic growth and to develop proposals to increase its efficiency. The paper examines the existing theoretical approaches to assessment of the impact of government expenditures on the economic development. The authors also used statistical data to measure the interrelationship between budgetary investments in science, basic and human capital and the GDP volumes. The authors formulated recommendations on improving the efficiency of the Russian budgetary policy, in particular: identifying priorities for budget fund expenditures; changing the existing structure of government spending; expanding the scope of the public-private partnership to promote investment and innovation activities. The paperconcludesthat the lack of medium- and long-term reserves for increasing government expenditures necessitates the change in the structure of government spending through reducing overheads and increasing production costs with the purpose of ensuring sustainable economic growth.

scholarly journals A dinâmica da integração internacional das economias e o Brasil: um exercício teórico

2018 ◽  
Vol 5 (1) ◽  
pp. 635
Author(s):  
Eiiti Sato
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
International Relations ◽  
World Economy ◽  
International Political Economy ◽  
Market Forces ◽  
State Institutions ◽  
Domestic Markets ◽  
The World ◽  
The Relationship

Since the exchange of goods, services, and capital became a worldwide system some nations have succeeded becoming wealthy and prosperous while many others have failed remaining in poverty. Over the last three decades the dynamism of the increasing integrated world economy became an essential part of the process of economic growth, and as a consequence growth has been meager in countries like Brazil whose authorities have remained systematically hesitant to integrate the domestic markets into the world economy, staying apart from the main flows of trade and capital. The article discusses also why economic development studies has moved from the field of Economy to the field of International Relations forming the area of International Political Economy studies which is mainly driven to understand the trends and changes in the relationship between the state institutions and the market forces in the national and international levels. The essay concludes that to any country the process of integrating into the world economy means exploring and improving national potentialities rather than abandoning national identity and interests. 

ANALYSIS AND PROSPECTS FOR IMPLEMENTATION OF THE INVESTMENT LIBERALIZATION REGIME IN THE WORLD ECONOMY

2021 ◽  
pp. 99-109
Author(s):  
Shokhrukh B. Akhmedov ◽  
◽  
Vladimir M. Kutovoi ◽  
Keyword(s):  
Developing Countries ◽  
Economic Development ◽  
World Economy ◽  
Trade Openness ◽  
Economic Policies ◽  
Foreign Companies ◽  
The World ◽  
Local Sources ◽  
Political Conditions ◽  
The Impact

The article assesses a significance of the most important component of the agreement on accession to the WTO, namely the agreement on trade-related investment measures (TRIMs), in increasing the attractiveness of developing countries to investors from abroad. In addition, traditional determinants of FDI placement, such as the macroeconomic stability, trade openness, and economic development, are considered. The authors carry out an analysis in the field of regulation of TRIMs by the example of economic policies in developing countries. The study shows that the extent to which TRIMs contributed to achieving the goals varied significantly, reflecting the specific economic and political conditions of the country using them. In some cases, they played a role in encouraging foreign companies to make more use of local sources or increase their exports from the host country. In other cases, the impact seemingly was negligible.

scholarly journals The Impact of Globalization on Economic Growth

Economics ◽  
2021 ◽  
Vol 104 (10-12) ◽  
pp. 99-109
Author(s):  
Mariam Dzebisashvili Mariam Dzebisashvili
Keyword(s):  
Economic Growth ◽  
National Economy ◽  
World Economy ◽  
English Word ◽  
Major Influence ◽  
Modern World ◽  
Human Society ◽  
Trade Integration ◽  
The World ◽  
The Impact

Twentieth century for the world economy is associated with a range of processes that involve a broader scope. The important issue in the order is at stake and at the same time the internationalization stage - Globalization. It discusses the developmental processes of the world in the socio-economic context. We are globalized as an accelerating factor. In addition to the destruction, it also contributes to modernization. The English word "globe" means Globe, while "global" - the world. Globalization -the modern English word is to make changes in the world economy and society. More precisely, the globalization of the economy is one of the components of globalization that includes several aspects: • Liberalization of Economics; • Development of trade; • Integration of countries in the modern world community; • To increase the service market; • Make investments. Globalization is a major influence on the economy of all countries. It deals with the process of creation of goods and services, the use of force, investing in "physical" capital, technologies and their spread to other countries. In the end, everything is expressed in the production and labor efficiency. The article-"The Impact of Globalization on Economic Growth" deals with the modern actual issues of globalization and its impact on the national economy. According to the author’s explanation, the globalization is the process of formation the world as an economic, technological, political and cultural entity through conditions of maintaining the statehood and national identity of the concrete countries. Globalization has the objective as well as the subjective features. That’s why the globalization includes unprecedented possibilities for development of human society as so as it threats of its existence. The positive results have been achieved only when any exposures of abuse are excluded and all decisions are received as a result of common consensus. The other trends of globalization might be ended with disaster. Globalization influences all sectors of national economy, including unemployment. In the article into detailed form are discussed the positive and negative sides of influence that globalization has on the national state and economy. In Summary, it seems that globalization involves both the development of human society and its unseen possibilities of the threat of existence. Thus, it becomes necessary in the process of globalization proper management, or implementation of fair globalization. The greatest contribution to this belongs to the leader (big) states. It is on their decisions that globalization does not depend on fate. Key words: Globalization; national economy; unemployment; international labor market.

scholarly journals Book review: Steve Keen, Debunking economics

10.26458/1427 ◽  
2014 ◽  
Vol 14 (2) ◽  
pp. 65
Author(s):  
Darío Ibarra ZAVALA
Keyword(s):  
Economic Growth ◽  
Economic Crisis ◽  
Growth Rates ◽  
The World ◽  
Economic Growth Rates

The world has reduced its economic growth rates since several decades ago. Besides, there have been periods of economic “moderation” and economic crisis. Prior to the crisis of 2008, the world seemed to be running properly, but suddenly things changed and mainstream economists were not able to explain the account of this crisis. .....

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