The accelerating of the economic growth of Russia after the COVID-19 crisis

The purpose of the study is a solution in the issue of accelerating economic growth in Russia, which was relevant even before the “covid” economic crisis, retaining its central importance after it. Various approaches are analyzed to identify opportunities to achieve the goal of accelerating growth. The research methodology is a macroeconomic and structural analysis of growth, the application of which makes it possible to identify the presence of not only the lack of investment for the new growth model, but also the lack of aggregate demand, which is evident from the increase in social stratification and the growth of poverty in Russia.
 The article considers various options of macroeconomic policy that can be used to overcome the “covid” economic crisis with an assessment of the expected effectiveness of their application.
It also carries out a structural analysis of GDP by expenditures revealing how the 2020 crisis was distributed (by quarters) by the components of the product being created. That makes it possible to reveal the extent of the impact of the crisis on the economy, which must be taken into account when formulating a policy of economic growth with a solution to the issue of accelerating it after a “covid” crisis.
Analysis of the structure of GDP growth gives a clear idea of the root causes of the sluggish pre-crisis dynamics of the Russian economy. It is only after the elimination of those reasons one should be engaged in organizing a new growth model in Russia. The recipes for macroeconomic policy and forecasts proposed today only reflect the current state of affairs, without in any way advancing the above issue. The analytical perspective for the solution is seen in the subordinate goal of accelerating the correction growth of the structure and institutions regulating the economy.
So and in no other way one can ensure not only the pace, but also the quality of future growth.

1. Abalkin, L.I. (2005), Rossiya: poisk samoopredeleniya [Russia. The search for self-determination ], Nauka, Moscow, Russia.

2. Aghion, P. and Howitt, P. (2017), “Some Thoughts on Capital Accumulation, Innovation, and Growth”, Annals of Economics and Statistics, no. 125/126, pp. 57–78.

3. Anisimov, A.N., Voronin, Yu.M., Labzunov, P.P., Ostrovskii, A.V. and Sukharev, O.S. (2014), Rossii nuzhna drugaya model’ razvitiya [Russia needs a different development model], Lenand, Moscow, Russia.

4. Glaz’ev, S.Yu. (2017), Bitva za liderstvo v XXI veke. Rossiya, SShA, Kitai. Sem’ variantov blizhaishego budushchego [The battle for leadership in the 21st century. Russia, USA, China. Seven options for the near future], Knizhnyi mir, Moscow, Russia.

5. Sukharev, O. (2003), “Evolutionary Macroeconomics in Schumpeterian Perusal (on a New System of Interaction between ‘Innovator’ and ‘Conservator’)”, Voprosy Ekonomiki, no. (11), pp. 41–52. URL: https://doi.org/10.32609/0042-8736-2003-11-41-52

6. Sukharev, O.S. (2006), “Evolutionary macroeconomics in the formulation and solution of economic policy issues (a model of interaction between ‘innovators’ and ‘conservatives’)”, Informatsionnaya ekonomika i kontseptsii sovremennogo menedzhmenta: Materialy pervykh Drukerovskikh chtenii [Information economy and the concepts of modern management. Proceedings of the first Drucker Conference], Dobroe slovo, Moscow, Russia, pp. 158–178.

7. Zhao, J. and Tang, J. (2018), “Industrial structure change and economic growth: A China-Russia comparison”, China Economic Review, vol. 47. pp. 219–233.