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Conditions and possibilities for symbiosis of Russia with developed countries

Vol. 26, Iss. 4, APRIL 2020

Received: 17 February 2020

Received in revised form: 11 March 2020

Accepted: 25 March 2020

Available online: 28 April 2020


JEL Classification: F01, F15, F29, F36, F42

Pages: 815–834

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

Subject. The article considers the symbiosis of Russia with developed countries.
Objectives. The purpose is to identify conditions and possibilities for the symbiosis of Russia with advanced economies to establish a process of concentrated internationalization of financial capital for the market economy development completion, formation of full-fledged capitalism with stable dynamics of productive forces.
Methods. The study rests on the systems approach, using the methods of descriptive statistics, neural network, nonparametric and cluster analysis.
Results. The study reveals favorable conditions for the symbiosis of Russia with developed countries. They appear due to low requirements to the volume and connectivity of attracted high-tech capital. This enables to use the potential of small countries, motivating them to satisfy their ‘resource hunger’. Russia's transition to the said symbiosis is hindered by the policy of smooth devaluation of the national currency, which is used to increase the growth rate of total government expenditure and current GDP, and adversely affects the growth rate of gross national saving.
Conclusions. The grounds for emergence of conditions and opportunities for the symbiosis of Russia with developed countries include the high values of financial development and low economic growth in Russia against the declining growth rates of the world economy and weakening of globalization process. The basis of Russia's symbiosis with developed countries is the mutually agreed necessity to internationalize capital in the form of investment financial institutions, which increase its concentration in production for the development of productive forces in conditions of the increasing risk of global recession.

Keywords: devaluation, capitalism, socio-economic formation, productive forces, economic relations


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