Strategy of Increasing the Global Competitiveness of Russia’s Economy and Russia’s Becoming a New Growth Vector of the Global Economy

P. 203–210.

Ragulina J., Bogoviz A. V., Lobova S. V., Alekseev A., Pyatanova V.

The purpose of the article is to determine the current position of Russia in the modern global economic system through the prism of the methodology of the theory of growth poles of economic growth and to create a strategy of increasing the global competitiveness of the Russian economy and Russia’s becoming a new growth vector of the global economy. Methodology: The authors use the method of regression analysis for determining the dependence of the annual growth rate of the global GDP on the volume of Russia’s GDP in market prices, developing a strategy of increasing the global competitiveness of the Russian economy and Russia’s becoming a new growth vector of the global economy, and determining the growth poles of the Russian economy, with study of the influence of the volume of production in various spheres of national economy on annual growth rate of Russia’s GDP in market prices. The research is conducted in the period of post-crisis restoration of the Russian economy — 2009– 2018, on the basis of statistical data of the Federal State Statistics Service and the World Bank. Results: It is substantiated that Russia is a growth pole of the world economy. However, Russia’s potential is not fully implemented due to imperfection of the strategy of managing the competitiveness. Recommendations: For solving this problem, framework recommendations are offered for development and implementation of a new strategy of increasing the global competitiveness of the Russian economy and opening its potential as a growth vector of the global economy, aimed at activation of innovational development of industry on the basis of the sphere of Industry 4.0. Practical implementation of the developed strategy will allow increasing the investment attractiveness and using the resources for increasing the global competitiveness of the Russian economy and opening its potential as a growth vector of the global economy

Keywords: global economy, Global Competitiveness, Modern Russian, Growth pole, Growth vector

In book

Growth Poles of the Global Economy: Emergence, Changes and Future Perspectives

Vol. 73. , Springer, 2020.