Economic growth in Russia: structure, investment and «knowledge economy»

Abstract

Subject/topic. The study is devoted to a structural analysis of the growth of the Russian economy by components of GDP and the structure of investments – financial and non-financial. The article presents the results of an assessment of the structural model of growth of the Russian economy in the period from 2003 to 2023. The purpose of the study is to identify the structural characteristics of Russia’s economic growth according to the basic parameter – the country’s gross domestic product, which differ for different time intervals, and have specificity relative to 2022 and 2023, when external conditions and factors of economic growth have changed dramatically. The methodology is based on the theory of economic growth and macroeconomic policy, structural analysis. The information base of the study is formed by statistical data from Rosstat. Their use makes it possible to identify the features of economic growth in Russia, highlighting its structural composition according to the dynamics of GDP components by expenditure and basic sectors: raw materials, manufacturing and transaction, which together give the total value of GDP. In addition, an assessment is made of the structure of «financial-non-financial» investments and their impact on economic growth, taking into account the institutional shift of the financial market, as well as the connection between the «knowledge economy» and growth. The result of the study is the identified inhibitory role of financial investments in the implementation of the policy of lowering interest rates, as well as the low level of determination of the «knowledge economy» by expenses on scientific research and development, which for the Russian economic system creates further problems with providing technological growth factors in the field of achieving technological sovereignty. Conclusions/significance The conducted structural analysis of the growth of the Russian economy shows the absence of significant changes in the structural dynamics of GDP in 2022-2023, confirming the value of its own application of such analysis in justifying macroeconomic and structural policy measures in Russia, as well as the intensification of efforts in the field of growth policy. The prospect of the study comes down to modeling the influence of external and internal growth factors on its structural parameters and, on this basis, to justify measures of structural and general macroeconomic policy of economic changes that ensure the growth of Russia's GDP.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 2 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.