Position in the Global Market as a Factor of Economic Development of Russia
https://doi.org/10.48137/2687-0703_2021_16_4_120
Abstract
The paper is focused on the effect of the position of Russia in the world economy on its economic development. Methodological framework of the analysis is based on the World-System approach. For the latter it is typical toe treat capitalism as a hierarchical system of unequal relations under which the core (developed countries) appropriates a significant part of incomes created by the labor of the population of the periphery (the developing countries). Russia occupies the semi-peripheral position in this system. As a result, the country demonstrates the following: export-led growth on the bases of energy resources, decline of manufacturing and low rates of technological development, high rates of capital flight, low share of accumulation of the fixed capital stock in GDP. Authoritarian model of corporate governance plays a special role. It is characterized by instability of control of the owners over their assets and by short-term time horizon of its business strategy. This assumes low interest of the Russian business in investment and innovations.
Keywords
World-System analysis,
spread of underdevelopment,
semi-periphery capitalism,
issues of development,
corporate investment
Supporting agencies: The research was supported by RFBR grant, the agreement on the project No. 20-010-00608
About the Author
R. S. Dzarasov
Financial University under the Government of Russian Federation
Russian Federation
Russian Federation
Dzarasov Ruslan S., D. Sc. (Economics)
49, Leningradsky Ave., 125993
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Review
For citations:
Dzarasov R.S. Position in the Global Market as a Factor of Economic Development of Russia. Geoeconomics of Energetics. 2021;(4):120-131. (In Russ.) https://doi.org/10.48137/2687-0703_2021_16_4_120
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