Comparative Cross-Country Analysis of Sustainable Development of Russian Economy

Vladimir S Tsitlenok ,Irina Roshсhina,Ekaterina Lisovskaya,Igor S Krishtal ,Elena Rozhanskaya

doi:10.1051/shsconf/20208001011

Abstract

This article addresses the phenomena of sustainable development of national economies driven by global inconsistency between nature resource intensive material production and severely limited natural resources. As a result, there is an increasing need for transition to global environmentally sound production. The article tests out the hypothesis about the mixed revolutionary and evolutionary nature of the sustainable development of the Russian economy. This type of sustainable development implies considerable fluctuations of its level depending on the scale and intensity of innovation activities. The results of the factor research and comparative cross-country analysis of the integral stability of the Russian economy are presented. The article provides the rationale for using more differentiated factors to rate national economies by the level of their dynamic sustainability. Dynamic sustainability factors that were identified made it possible to rate Russia’s economy among other national economies by the level of its sustainable development. The article suggests causes for the potential decrease in the sustainability of the Russian economy in the context of the deployment of the ‘Industry 4.0’ global production and technology platform. It also sets out conditions as well as measures to reduce the risks of considerably unbalancing functional systems of the Russian economy.

Highlights

The demands of a geo–anthropic society in vital goods are met in accordance with its accumulated productive potential
According to the research made by the Sustainable Society Foundation, a non-government organization based in the Netherlands, the sustainability of 154 national economies rose by 4% between 2006 and 2016. 2% growth was achieved due to human potential, production capital accounted for another 3% growth and there was a 1% drop in sustainability due to environmental issues
Experts from the Organization for Economic Cooperation and Development believe that sustainable development concept is the guideline for moving the world economy toward integrity and balance; it is the process of overcoming resource scarcity, social conflict, poverty and unemployment [7]

Summary

Introduction

The demands of a geo–anthropic society in vital goods are met in accordance with its accumulated productive potential. It is based on the achieved level of scientific knowledge, professional skills and abilities as well as forms, types and modes of production, management and the culture of productive relations. The prevalence of only one of them can lead to either evolutionary or revolutionary type of sustainable development. Methods used for the transition of a national economy to “Industry 4.0” platform will determine the type of sustainable development (evolutionary-revolutionary or revolutionary-evolutionary), which in its turn will dominate its dynamics (growth or decline). The formation of ‘Industry 4.0’ production and technology platform is most likely to affect the sustainability of Russia’s national economy.

Objectives

Results

Conclusion