Reflections on the Analytical Report “Stagnation 2: Consequences, Risks and Alternatives for the Russian economy”

Abstract

In the book “Stagnation 2: Consequences, Risks and Alternatives for the Russian Economy”, which the authors call an analytical report, there are more questions posed than answers given. The paper analyzes the socio-economic development of Russia in the last decade and prospects for the medium and long term. In addition, the authors of the work do not analyze the causes of the unexpected stagnation since 2013, which abruptly broke the rising trend of Russia. The article attempts to explain the causes of stagnation and the coming recession of 2015. In this reflection, the review author tries to systematize the features of Russian stagnation, largely agreeing with their deep analysis in the analytical report. This is a discussion on the topics of “stability” and “equilibrium”, “middle income traps”, “redistributive models”, “lost beacons" and "isolationism”. The main focus of the review is devoted to analyzing the provisions of the analytical report on the prospects of Russia's development. The authors under review do not comprehensively consider the conditions and factors necessary to resume future sustainable socio-economic growth for Russia. Some authors do not see real opportunities for overcoming stagnation at all. In conclusion, the author of the review expresses his point of view on the possibilities and ways of transition to sustainable and accelerating socio-economic development. This would be possible on the basis of technological modernization of our economy as well as the improvement of welfare and preservation of the Russian people.