Home  Journals  Economic Analysis: Theory and Practice  2(509) - 2021 February

Structural defects and deformations of the economy

Received: 10 December 2020

Received in revised form: 25 December 2020

Accepted: 12 January 2021

Available online: 26 February 2021

Subject Heading: THEORY OF ECONOMIC ANALYSIS

JEL Classification: B41, C02, C61, C68

Pages: 251–277

https://doi.org/10.24891/ea.20.2.251

Subject. We address the structure of the economy, its structural defects and distortions.
Objectives. The purpose is to introduce the concepts of structural defects and distortions of the economy. These properties of the economic system structure make it difficult to realize the chances of its rapid development.
Methods. The theoretical and practical basis of the systems, inter-industry and structural dynamic analysis serve as the components of the study’s methodology.
Results. Based on official statistics and our own statistical research base for the digitization of the dynamic model of inter-industry balance, we solved the problem of identification of structural defects and deformations of the economy. The scope of the study's results is the macroeconomic modeling, structural sustainability, assessment of the impact of structural reforms (national projects) on economic growth, and analysis of internal dynamic properties of economic systems at the macro level.
Conclusions. We developed principles of identification of structural defects and deformations of macro systems that affect the economic dynamics. Understanding the ‘structural deformation’ as the degradation of inter-industry ties, and the ‘structural defects’ as the manifestations of technological unpreparedness for growth, we can conclude that the Russian economy of 2015, had these two negative properties.

Keywords: dynamic model, interindustry balance, economic growth, structural defect, structural deformation

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