The Recovery Growth and Some Specifics of Modern Economic Situation in Russia

In: Voprosy Ekonomiki, Heft 5, S. 4-18

Abstract

The author points out that after the transformational slump all post-Soviet economies stepped on the path of growth. But its nature, known as recovery growth, appears inevitably fading, and in today's Russia its capacity has been practically depleted. And now the problem is not to stir up the rates of growth that would be dangerous. The comprehensive, mutually related reforms are needed which will secure sustainable economic growth in the future. The author argues that the country should learn how to insure economic development by means of private incentives rather than state regulation mechanisms.