Institutional Framework and Economic Development

 
PIIS086904990011557-4-1
Publication type Article
Status Published
Authors
Occupation: Head
Affiliation:
Economic Expert Group
Center of Research Financial Institute of the Ministry of Finance
Address: Russian Federation, Vetoshny lane. 5/4, Moscow, 109012
Journal nameObshchestvennye nauki i sovremennost
EditionIssue 1
Pages20-45
Abstract

The article makes a reasoned attempt to answer the question: why many serious programs of Russia economic development in 2000–2010 did not give the expected results? The diagnosis has been made of the Russian economy, including an analytical comparison between 20 countries which are on a similar level of development, and the Russian and international experience in the development and implementation of economic programs has been analyzed. The article concludes that the development of the Russian economy is strictly limited now by institutional framework and its accelerative growth can not be achieved without this framework’s extension in the political process. As a result of analysis of different types of institutional reforms some specific recommendations are offered here to gain this aim, and to guarantee the Russia evolutionary development, mitigation or removal of economic and social risks the country is faced when maintaining the status quo.

Keywordseconomic development, economic growth, economic development programs, institutional economics, institutional framework
Received15.09.2020
Publication date17.02.2017
Number of characters902
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