Search citation statements
Paper Sections
Citation Types
Year Published
Publication Types
Relationship
Authors
Journals
Objective: to identify trends in the development of the Russian economy during the new anti-Russian sanctions. To this end, the paper analyzes the impact of the new sanctions on the budgetary sphere, the development of economic sectors and industries and the Russian regions.Methods: the work uses data from the Federal State Statistics Service (Rosstat), the Federal Treasury, the Ministry of Economic Development of the Russian Federation (Ministry of Economic Development), the Central Bank of the Russian Federation (Bank of Russia), the Federal Tax Service (FTS), the Federal Customs Service (FCS), the Federal Antimonopoly Service (FAS). For their analysis, graphical, tabular, and analytical methods are used.Results: the new anti-Russian sanctions caused significant changes in the structure of the Russian exports and trade balance. The reduced inflow of foreign currency put significant pressure on the ruble exchange rate, which created inflation risks. The devaluation was restrained by the Bank of Russia new currency regime. The favorable situation in the energy market in 2022 led to an increase in budget revenues. In 2023, economic growth resulted from an active fiscal policy supported by moderate monetary expansion. However, it was achieved at the cost of an increase in the budget deficit and public debt. The response of different industries and regions to the sanctions shock was heterogeneous. The development of certain adaptive strategies by economic entities, as well as the response of the authorities played an important role. The new sanctions regime prompted a revision of the state economy regulation paradigm. Dirigisme manifested itself in the increase of state orders, subsidies and other support for protected industries with one-time withdrawals of opportunistic revenues of big business. Monetary and fiscal policy gradually acquired a hybrid character. Direct and indirect price regulation became an important instrument of state regulation during the sanctions.Scientific novelty: it consists in a comprehensive analysis of development trends during the new anti-Russian sanctions, their impact on foreign economic parameters, budgetary sphere, financial system, development of Russian industries and regions.Practical significance: statistical information on various aspects of the Russian economy development during the new antiRussian sanctions was summarized and analyzed. The work can be useful to researchers studying the functioning of the Russian economy under sanctions, as well as to businesspersons for assessing the risks, opportunities and prospects of their businesses development, and to government agencies for forming an effective anti-crisis policy.
Objective: to identify trends in the development of the Russian economy during the new anti-Russian sanctions. To this end, the paper analyzes the impact of the new sanctions on the budgetary sphere, the development of economic sectors and industries and the Russian regions.Methods: the work uses data from the Federal State Statistics Service (Rosstat), the Federal Treasury, the Ministry of Economic Development of the Russian Federation (Ministry of Economic Development), the Central Bank of the Russian Federation (Bank of Russia), the Federal Tax Service (FTS), the Federal Customs Service (FCS), the Federal Antimonopoly Service (FAS). For their analysis, graphical, tabular, and analytical methods are used.Results: the new anti-Russian sanctions caused significant changes in the structure of the Russian exports and trade balance. The reduced inflow of foreign currency put significant pressure on the ruble exchange rate, which created inflation risks. The devaluation was restrained by the Bank of Russia new currency regime. The favorable situation in the energy market in 2022 led to an increase in budget revenues. In 2023, economic growth resulted from an active fiscal policy supported by moderate monetary expansion. However, it was achieved at the cost of an increase in the budget deficit and public debt. The response of different industries and regions to the sanctions shock was heterogeneous. The development of certain adaptive strategies by economic entities, as well as the response of the authorities played an important role. The new sanctions regime prompted a revision of the state economy regulation paradigm. Dirigisme manifested itself in the increase of state orders, subsidies and other support for protected industries with one-time withdrawals of opportunistic revenues of big business. Monetary and fiscal policy gradually acquired a hybrid character. Direct and indirect price regulation became an important instrument of state regulation during the sanctions.Scientific novelty: it consists in a comprehensive analysis of development trends during the new anti-Russian sanctions, their impact on foreign economic parameters, budgetary sphere, financial system, development of Russian industries and regions.Practical significance: statistical information on various aspects of the Russian economy development during the new antiRussian sanctions was summarized and analyzed. The work can be useful to researchers studying the functioning of the Russian economy under sanctions, as well as to businesspersons for assessing the risks, opportunities and prospects of their businesses development, and to government agencies for forming an effective anti-crisis policy.
Objective: to propose anti-sanction and sanction measures based on the analysis of the external and internal environment of the Russian economy and anti-crisis measures implemented by the Russian government.Methods: techniques of abstract-logical method were used, such as analysis, synthesis, deduction, induction, analogy, and forecasting.Results: a critical assessment of anti-crisis measures by other scientists was given; the anti-sanctions plan of the Russian Federation for 2022–2024 was analyzed. As a result of the calculations, the approximate parameters of the budget system expenditures for the realization of the anti-sanctions policy were determined. Prospects, main measures and plans to bring priority sectors of the national economy out of the crisis were assessed. It was found that, despite the success of the antisanctions plan, many of the problems hindering the development of the Russian economy have not yet been solved. The main anti-sanction and sanction measures for the Russian economy development were proposed.Scientific novelty: measures to correct Russia’s anti-sanction and sanction economic policy were proposed: first, those referring to the area of transition to non-obvious, rational, defense-attack and protectionist sanctions economic policy of Russia; second, those for the transition to open, long-term, protectionist and preventive anti-sanction economic policy of the Russian Federation.Practical significance: the proposed measures will weaken the consequences of the sanctions war and lay the foundation for Russia’s economic development in the medium and long term. A systematic approach to the study of anti-sanction and sanction economic policy of Russia will allow other countries (China, first of all) to use the Russian experience of successful counteraction to the sanctions of the US and its allies.
In the face of large-scale international sanctions imposed by the collective West against Russia, it becomes imperative to reevaluate the conventional framework for guiding the Russian economy amid the emerging challenges and limitations. The article explores a multilevel system for managing Russian economy in the context of the global confrontation. The methodological foundation resides in the selective “incremental changes ideology” emphasising the necessity for disaggregation and decentralisation of economic policies to maximise the timeliness of managerial decisions. This approach contrasts with the holistic “total regulation ideology”, which focuses on the national development strategy on planning and reaching aggregate economic indicators. The paper applies the methods of traditional structural cybernetic and graphical modelling of social systems allowing for the specificities of the external environment. The evidence comes from a cluster of the most recent studies approaching the role of the international sanctions phenomenon in building an efficient national economy from different angles. The author presents an original graphical four-circuit concentric model complemented by a functional description of its constituent circuits (the core, priority industries, new production, and supporting industries) and management methods. The article provides examples of the management measures (massive centralised lending for new microchip production, creation of the state corporation Rospharma, etc.) that can be implemented within the four circuits of the model. These measures can be both soft (‘weak’) and hard (‘strong’) depending on whether they reject or take on administrative enforcement. It is noteworthy that the selective governance model will gradually evolve into a holistic model over time.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.