Home  Journals  Economic Analysis: Theory and Practice  2(461) - 2017 February

System problems of economic growth in modern Russia

Vol. 16, Iss. 2, FEBRUARY 2017

Article PDF Version

Received: 14 April 2016

Received in revised form: 20 May 2016

Accepted: 5 July 2016

Available online: 27 February 2017

Subject Heading: ECONOMIC ADVANCEMENT

JEL Classification: C00, C30, C61, P11

Pages: 204-220

https://doi.org/10.24891/ea.16.2.204

Importance The paper addresses problems of economic dynamics and economic growth, which were built up on an extended horizon of development of the USSR and Russia. It substantiates the task of modeling the dynamic properties of economic systems from the standpoint of utilizing the ‘input-output’ methodology.
Objectives The study aims to formulate the outcomes of and the strategy behind the developments in the Russian economy over the past three decades.
Methods We used the methodology of socio-historical and socio-economic analyses to establish both the causes and consequences of predominantly extensive growth of domestic economy and the current structure of the gross domestic product.
Results The paper defines negative factors that can paralyze any efforts addressing structural reforms, and negate modernization plans. These factors include financial resource scarcity, corruption, and human capital erosion. We identify ways to overcome the impact of the adverse factors.
Conclusions and Relevance We propose a mathematical-statistical field to solve global problems of economy restructuring and modernization using the ‘input-output’ methodology. It provides a balanced trajectory of the analyzed systems' development. The paper demonstrates a possibility of optimal control over economy development based on the analysis of its dynamic properties.

Keywords: economic growth, structural reforms, input, output

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