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Economic Analysis: Theory and Practice
 

Determining the conditions for sustainable development of the Russian economy

Vol. 19, Iss. 11, NOVEMBER 2020

Received: 28 September 2020

Received in revised form: 10 October 2020

Accepted: 21 October 2020

Available online: 27 November 2020

Subject Heading: INTEGRATED ECONOMIC-SOCIO-ECOLOGICAL ANALYSIS

JEL Classification: E66, F01, O10, P10, P20

Pages: 2093–2115

https://doi.org/10.24891/ea.19.11.2093

Smirnov V.V. I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation
v2v3s4@mail.ru

https://orcid.org/0000-0002-6198-3157

Subject. The article addresses conditions for sustainable development of the Russian economy.
Objectives. The purpose is to link the limit of sustainability of the Russian economy with required conditions.
Methods. The study draws on the systems approach, using the methods of statistical, neural network, and cluster analysis.
Results. I describe scientific ideas about sustainable development of economy, which have been developed in theoretical and practical activities. The World Bank data on environment, social affairs and governance on 17 key sustainable development topics, covering environmental, social and management categories, are used to determine conditions for sustainability of the Russian economy. The neural network analysis of the importance of indicators’ rate of increment shows a hierarchy of priorities. The cluster analysis of indicators’ rate of increment identifies significant clusters. The analysis of key priorities of sustainable development of the Russian economy enables to reveal significant deviations in political stability and in access to electricity.
Conclusions. Conditions for sustainable development of the Russian economy are determined by their proximity to the United Nations Sustainable Development Goals. Identifying these conditions in the globalizing world creates an understanding of the real limit and opportunities of the country's development.

Keywords: hierarchy, cluster, limit, priority, sustainable development

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