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To development drivers of the Russian economy

Vol. 16, Iss. 10, OCTOBER 2020

Received: 19 June 2020

Received in revised form: 7 July 2020

Accepted: 25 July 2020

Available online: 15 October 2020

Subject Heading: SUSTAINABLE DEVELOPMENT OF ECONOMY

JEL Classification: E66, F01, O10, O11, P10

Pages: 1881–1899

https://doi.org/10.24891/ni.16.10.1881

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 focuses on the development of Russia's economy.
Objectives. The study attempts to discover development drivers of the Russian economy, the substance of economic growth during the contemporary capitalist cycle.
Methods. The study is based on the systems approach and methods of statistical and cluster analysis.
Results. Evaluating the median and he Fischer test of quarterly growth rates of economic and financial indicators and their clustering with federal budget, I discovered what distinguished the Russian economy from socialist China (the dynamics of growth in GDP and exports); from leading capitalist economies, such as Germany and the USA (a decrease in the unemployment rate). I determine what maintains Russia's activity during the globalization, that is, a growth in Consumer Price Index and the devaluation of the national currency. I discovered dampering signs of the Russian economy during crises and the active recovery of the global economy.
Conclusions and Relevance. What will drive the development of the Russian economy mainly depends on its position in the global economy and the dampering role of capitalist cycles, considering the contradictory development of productive forces and economic relations. The findings contribute to the knowledge and new competencies of public authorities to make administrative decisions on methods to advance the Russian economy.

Keywords: damper, capitalist cycle, cluster, development tools, growth rate

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