Competitiveness of Russian Economy: Evaluation and Development Prospects
The paper analyzes causes of low competitiveness of economy and deterioration of main socioeconomic indicators of Russia at the beginning of the 90s of the 20th century. The analysis of the most authoritative ratings in the area of global competitiveness is carried out: methods of World Economic Forum and International Institute for Management Development, and the corresponding place of Russia over the period from 2009 to 2014 is determined. Findings are compared to conclusions by the level of business activity (Doing Business rating) – a research carried out by World Bank and International Finance Corporation. Data of all three independent rating researches confirm considerable strengthening of Russian position over last 5 years. In the course of the research it was found that there is a direct correlation between the competitiveness growth of Russia and high prices for raw hydrocarbons. In the course of the research direct dependence between price for oil and the number of consumed imported products and services in the country, and the absence of direct correlation between prices for hydrocarbons and investments in fixed capital were revealed. Based on trend method the authors conclude an increase in Russian economy competitiveness in years to come in the absence of strong external constraints. Further the researchers suggest ways of stabilization and sustainable development.
This work is licensed under Creative Commons Attribution 3.0 License.
Mediterranean Journal of Social Sciences ISSN 2039-9340(Print) ISSN 2039-2117(Online)
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