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Journal section "Territorial economy"

Variants of Adjustments to Russian Economic Policy

Lukin E.V.

5 (35), 2016

Lukin E.V. Variants of Adjustments to Russian Economic Policy. Territorial development issues, 2016, no. 5 (35). URL: http://vtr.isert-ran.ru/article/2036?_lang=en

Abstract   |   Authors   |   References
The article presents the variants of adjustment of the economic policy of Russia. Based on the economic development and the problems identified in the sphere of regulation of social reproduction, the resources available and the prerequisites for the recovery of economic growth in Russia, the authors showed that the priority areas of the state economic policy should be the promotion of economic activity in the real economic sector, the development of domestic consumer and investment demand, the shift to an innovative economic model. The main measures for the development of the real economic sector and income raise of its activities are the increase in the share of domestic goods in the domestic market by reducing import demand; loading if spare competitive capacities; capital goods production expansion; preservation and further development of the established institutional structure of financial support of agricultural enterprises; reduction of price of working capital by ensuring stable ruble exchange rate and a steady decline in interest rates; refinancing the needs of Russian enterprises for working capital; prevention of increase in direct and indirect tax burden on business and the population; limiting the increase in prices for services of “infrastructural monopolies” (electricity, gas, transport), as well as on engine fuel. It has been proved that an important factor in economic growth is effective consumer demand. The paper offers possible ways of stimulating investment activity, proves the necessity of new high-tech industrialization of the Russian economy and increasing the integration of extractive and manufacturing sectors of the economy, presents possible process chains in the economy. Key controllable factors and parameters of neo-industrial economic development have been identified. On the basis of mathematical calculations, it has been proved that such development requires increased dynamic enhancing of the following basic parameters of economic system: added value multiplier (12–14 and over); the proportion of computer assisted operations (up to 25–30% in the sectors of material production); labor productivity (with growth rate o f over 9% per year); product quality and competitiveness (end product export rise by 15–20% per year); real purchasing power of the population, producers and state budget (with the rate of at least 7% per year); the share of domestic accumu-lation fund (GDP not less than 30%); the effectiveness of capital investments in the sectors of material production (not less than 35–40%)

Keywords

economic growth, economic policy, systemic crisis, controlled parameters of economic growth, re-industrialization

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