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Russia in the global economy: Challenges and opportunities

Vol. 15, Iss. 1, JANUARY 2019

Received: 19 October 2018

Received in revised form: 12 November 2018

Accepted: 30 November 2018

Available online: 16 January 2019


JEL Classification: F00, F01, F02

Pages: 96–110

Starodubtseva E.B. Financial University under Government of Russian Federation, Moscow, Russian Federation

Subject The article investigates the place of Russia in global GDP, foreign trade turnover, and analyzed the structure of Russia's export and import. The article shows Russia's role in the global flows of capital and integration cooperation.
Objectives The research comprehensively examines the place of Russia in the global economy, discerns key challenges impeding the national economic advancement worldwide.
Methods The research employs methods of logic, statistical analysis.
Results Russia actively participates in global economic processes, being on the top of international ratings. Economic development engenders some positive trends in GDP, global investment index, Doing Business rating. However, some indicators should be regarded with higher priority, such as services, capital outflow, foreign investment, enhancement of Russia's role and status in international institutions. The challenges can be overcome by having a sound structural and industrial policy, rearranging the economy from the resource-based focus to high technology, restructuring financial flows.
Conclusions To strengthen Russia's global status and achieve the goal, there should be an absolutely new strategy for the national socio-economic development.

Keywords: world economy, GDP, export, import, investment


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