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Search for Effective Governments in Post-Soviet Russia While Excluding the Factor of World Oil Prices from the Results of the Country’s Economic Development
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Journal Article
Search for Effective Governments in Post-Soviet Russia While Excluding the Factor of World Oil Prices from the Results of the Country’s Economic Development
2021
Overview
The method of multi-criteria assessment of economic development based on an econometric model with the identification of production, market and institutional factors in relation to the parameters of economic growth and development risks is developed. The methodology is applied to the study of actual data on the economic development of post-Soviet Russia, which allowed us to obtain objective assessments of the activities of individual governments on a large set of criteria: oil-dependent, oil-dependent and diversifying, progressive, regressive and passive, conservative and destructive, managed and unmanaged development, etc.both in terms of growth and development risks, as well as individual development factors. The article describes the parameters of economic development during periods of shock therapy, radical reforms, post-devaluation recovery, building a \"vertical of power\" and \"nationalization of the elite\". It is concluded that the last periods only preserved the institutionally degraded society, but did not ensure its development. The period 2004-2008 is the only one when a positive purposeful impact of the government on development risk was revealed, namely, it was organized to reduce the fluctuation of economic growth during the period of rising oil prices. There were no positive targeted effects of governments on economic growth.
Publisher
IOP Publishing
Subject
