Economic Analysis: Theory and Practice
 

Express analysis of Russia's economy development with and without the Group of Seven

Vol. 17, Iss. 9, SEPTEMBER 2018

Received: 14 May 2018

Received in revised form: 13 July 2018

Accepted: 27 July 2018

Available online: 28 September 2018

Subject Heading: ANALYSIS OF COMPETITIVE ABILITY

JEL Classification: C13, C43, E02, E10, F01, F15, F62

Pages: 1679–1695

https://doi.org/10.24891/ea.17.9.1679

Smirnov V.V. I.N. Ulianov Chuvash State University, Cheboksary, Chuvash Republic, Russian Federation
walera712006@mail.ru

https://orcid.org/0000-0002-6198-3157

Mulendeeva A.V. I.N. Ulianov Chuvash State University, Cheboksary, Chuvash Republic, Russian Federation
alena-mulendeeva@yandex.ru

ORCID id: not available

Importance The article reviews the trends in Russia's economy development with and without the Group of Seven.
Objectives The purpose of the study is to analyze changes in Russia's economy development with and without the Group of Seven on the basis of estimation of growth rates in the set of interdependent financial and economic factors, reveal positive and negative factors, show beneficiary countries of the Rusexit process.
Methods The study draws on general tenets of prediction theories and practices of systems analysis of financial and economic factors, fundamental laws, findings of applied research in the field of economic equilibrium.
Results The factor analysis of changes in the country development of the Group of Seven and Group of Seven+ on the basis of assessing the growth rates in the set of interrelated financial and economic factors enabled to show positive and negative rates of growth of the Russian economy, as well as beneficiary countries by each factor. The findings can be used in the international financial and economic policy formation, in the process of selecting countries and groups of countries for cooperation, and assessing the benefits of international cooperation and the exit from it.
Conclusions To maintain the equilibrium state of the Russian economy, it is important to ensure growth in broad money, GDP per capita, gross fixed capital formation, a decrease in imports of goods (services) and inflation, and population growth while formulating the strategic areas of international cooperation.

Keywords: Group of Seven, country development, growth rate, factor analysis

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