Traditionally, the Russian economy has been criticized for the predominance of the raw materials export and "resource curse". One of the main manifestations of the latter: appreciation of the national currency because of foreign currencies’ inflows and inability of national economy “to consume” them. It makes import of industrial products and services attractive, as domestic production is unprofitable due to expensive labor and lack of modern technology. Today Russia is undergoing a period of structural transformation of its economic model. The economic slowdown that began in 2012 and in 2014 turned into a recession, accompanied by rising inflation and declining incomes of households. No matter how these phenomena are unfavorable, they open up government and national business window of opportunity for the resumption of economic reforms stalled in 2003.
Язык оригиналаанглийский
Страницы (с-по)35-36
ЖурналBaltic Rim Economies
Том20
Номер выпуска1
СостояниеОпубликовано - 2016

ID: 7557918