Economy and Policy in 2011: Global Crisis and Search for a New Model of Growth

Abstract

The article reveals two factors which determined social and economic development of Russia in 2011: future elections and the global economic crisis. Relative sustainability of the Russian economy is noted. Still, macroeconomic stability remains fragile. Principal features of the global economic crisis are considered: its structural and systemic character. The specifics of Russian economic policy is analyzed. A new model of growth is proposed that is based on supply-side economics, its key elements are studied. Recent political changes in the Russian society are analyzed as well as their influence on economic dynamics. The necessity of complex modernization in Russia is stressed.

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