Abstract

In conditions of external sanctions against the Russian Federation and limited access to the global markets for goods, services, and capital, there is an issue of mismatch between theirs supply and demand in the domestic market. To adequately address this issue, the country’s economy must be restructured, which necessitates detailed study of macroeconomic ratios. The study aims to examine the structural ratios in the Russian economy, which are related to the country’s sectoral and branch structures, in order to assess quantitative and qualitative indicators of economic development. The research’s methodology is based on sector theory and the concept of the branch structure of the economy. To achieve the aim, the study is carried out according to the established stages, consistently producing the corresponding results. At the first stage, the ratios between the three major sectors of the economy (agricultural, industry, and services) are estimated as part of the economy of the Russian Federation from 1991 to 2022. At the second stage, the interbranch ratios of the country’s economy are studied based on the input‒output tables from 2011 to 2016, covering 16 types of economic activity (sections A–R according to the OKVED-2007 classifier). At the same stage, the structure of the gross domestic product of the Russian Federation from 2016 to 2022 is evaluated using statistical data on gross value added (sections A–T according to the OKVED2 classifier). The final stage of the research draws applicable findings based on the analysis performed. The authors argue that in the face of unprecedented sanctions, the domestic economy requires more intensive growth, as well as a shift in its interbranch and technological structure through the development of manufacturing industries that ensure the production of high-tech products using various types of innovations.

Full Text
Published version (Free)

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call