+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
National Interests: Priorities and Security
 

Macroeconomic mechanism of sustainable growth of the Russian economy

ISSUE 7, JULY 2025

Received: 23 January 2025

Accepted: 17 February 2025

Available online: 15 July 2025

Subject Heading: ECONOMIC POLICY OF THE STATE

JEL Classification: Е20, Е27, Е29, Е62, F40

Pages: 38-54

https://doi.org/10.24891/hlemri

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

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

Subject. This article discusses macroeconomic mechanism of sustainable economic growth in Russia.
Objectives. The article aims to determine the mechanisms of economic growth in Russia.
Methods. For the study, I used analysis and synthesis, and special economic-mathematical methods.
Results. The study reveals that the macroeconomic mechanism of economic growth is a complex multifactorial process that links the increase in the gap between the trade balance and the current account.
Conclusions and Relevance. The identified mechanism of economic growth in Russia contributes to the development of modern macroeconomic theory. The results of the research provide a basis for further studies in the field of monetary policy, macroeconomic stability, and the interaction of the financial sector with the real economy.

Keywords: intraday credit, currency devaluation, money supply, current account, trade balance

References:

  1. Aganbegyan A.G. [Foreign experience in strategizing accelerated socio-economic development and options for its application in Russia]. Strategirovanie: teoriya i praktika, 2024, vol. 4, iss. 1, pp. 1‒26. (In Russ.) DOI: 10.21603/2782-2435-2024-4-1-1-26 EDN: ARWLLW
  2. Glaz'ev S.Yu., Sukharev O.S. [Economic growth of Russia and structural modernization: Project approach]. Rossiiskii ekonomicheskii zhurnal, 2024, no. 2, pp. 4‒30. (In Russ.) EDN: YETAOG
  3. Shirov A.A., Belousov D.R., Blokhin A.A. et al. [Russia 2035: The new quality of the national economy]. Problemy prognozirovaniya, 2024, no. 2, pp. 6‒20. (In Russ.) DOI: 10.47711/0868-6351-203-6-20 EDN: MWPRHD
  4. Bachmann R., Godl-Hanisch I.G., Sims E.R. Identifying monetary policy shocks using the central bank’s information set. Journal of Economic Dynamics and Control, 2022, no. 145. DOI: 10.1016/j.jedc.2022.104555
  5. Fontana G., Sawyer M. The macroeconomics of near zero growth of GDP in a world of geopolitical risks and conflicts. Journal of Environmental Management, 2023, no. 351. DOI: 10.1016/j.jenvman.2023.119717
  6. Sui J., Lv W., Gao X. et al. China’s GDP-at-Risk: Real-Time Monitoring, Risk Tracing, and Macroeconomic Policy Effects. Journal of International Money and Finance, 2024, no. 147. DOI: 10.1016/j.jimonfin.2024.103150
  7. Caggiano G., Castelnuovo E., Delrio S. et al. Financial uncertainty and real activity: The good, the bad, and the ugly. European Economic Review, 2021, no. 136. DOI: 10.1016/j.euroecorev.2021.103750
  8. Lhuissier S., Tripier F. Regime-dependent effects of uncertainty shocks: A structural interpretation. Quantitative Economics, 2021, no. 12, pp. 1139–1170. DOI: 10.3982/QE1298
  9. Jovanovic B., Ma S. Uncertainty and growth disasters. Review of Economic Dynamics, 2022, no. 44, pp. 33‒64. DOI: 10.1016/j.red.2021.04.002
  10. Schularick M., Taylor A.M. Credit booms gone bust: Monetary policy, leverage cycles, and financial crises, 1870–2008. The American Economic Review, 2009, no. 102, pp. 1029–1061. DOI: 10.1257/aer.102.2.1029
  11. Schuler Y.S., Hiebert P.P., Peltonen T.A. Financial cycles: Characterisation and real-time measurement. Journal of International Money and Finance, 2019, no. 100. DOI: 10.1016/j.jimonfin.2019.102082
  12. Arestis P., Sawyer M. The “new economics” and policies for financial stability. International Review of Applied Economics, 2012, no. 26, pp. 147‒160. DOI: 10.1080/02692171.2011.640314
  13. Gertler M., Gilchrist S. What happened: Financial factors in the great recession. Journal of Economic Perspectives, 2018, vol. 32, iss. 3, pp. 3‒30. DOI: 10.1257/jep.32.3.3
  14. Ludvigson S.C., Ma S., Ng S. Uncertainty and business cycles: Exogenous impulse or endogenous response? American Economic Journal: Macroeconomics, 2021, vol. 13, iss. 4, pp. 369‒410. DOI: 10.1257/mac.20190171
  15. Centinaio A., Pacicco F., Serati M. et al. Government decisions and macroeconomic stability: Fiscal policies and financial market fluctuations. International Review of Economics & Finance, 2024, no. 96.
  16. Tiunova M.G. [The effects of monetary policy on the Russian financial market behavior]. Daidzhest-Finansy, 2023, vol. 28, iss. 2, pp. 179‒199. (In Russ.) DOI: 10.24891/fc.25.3.618 EDN: DNOMUT
  17. Abdurakhmanov M.I. [Key rate as a tool to prevent financial instability based on market expectations]. Finansy i kredit, 2024, vol. 30, iss. 2, pp. 308‒331. (In Russ.) DOI: 10.24891/fc.30.2.308
  18. Zhang H.-G., Wang S., Xie Y. How does news-driven monetary policy frictions affect nonperforming loans? – Taking Chinese commercial banks as an example. The North American Journal of Economics and Finance, 2025, no. 76. DOI: 10.1016/j.najef.2024.102353
  19. Blanchard O.J., Summers L.H. Automatic Stabilizers in a Low-Rate Environment. AEA Papers and Proceedings, 2020, no. 110, pp. 125–130. DOI: 10.1257/pandp.20201075

View all articles of issue

 

ISSN 2311-875X (Online)
ISSN 2073-2872 (Print)

Journal current issue

ISSUE 1
JANUARY 2026

Archive

Видите ошибку в отчестве? Отключите перевод, это английская версия сайта!