Abstract
The economic development is ensured by the capability of a socioeconomic system to have a stable and extended reproduction connected with investment security and its effective use. An investment scale and efficiency influence the replacement and extended reproduction of fixed capital and the society’s social development. The paper aims at analyzing the specifics of economic development of Russia in the historical context based on investment criteria during the transition to regulated market; identifying the key drivers of economic growth at different stages. The phases of the Russian economy’s market transformation in the course of its restructuring are systematized, the economic development peculiarities are qualitatively characterized in each phase. The common regular connections between an investment process character and an economic development level are found, key economic growth factors are identified in each phase, and their characteristics are defined. The level of a social development in the course of the Russian Federation economy’s market transition is assessed.
Highlights
Development is a process of directed and natural changes of a social and economic system which results in its new and better state, improved efficiency of resource use and life quality in accordance with the needs of the society.The reproduction character of an economic development is ensured through its investment component so the level of Russia’s economic development is evaluated to a great deal in terms of investment criteria
The volume of foreign investments into the Russia’s economy has considerably dropped, with the restricted access to international financial markets having an adverse effect on the investment market
In 1990s Russia initiated a rapid step-by-step transition to a market economy which was considered to be of a catch-up process in relation to already developed market economies
Summary
Development is a process of directed and natural changes of a social and economic system which results in its new and better state, improved efficiency of resource use and life quality in accordance with the needs of the society.The reproduction character of an economic development is ensured through its investment component so the level of Russia’s economic development is evaluated to a great deal in terms of investment criteria. Technical and technological development is known to be based on investment activity. Due to the lower purchasing power, drop of incomes in real terms, and the lack of borrowed funds the business activity is slowing down, a business class is refusing long-term projects connected with investments in fixed assets and mainly investing quick and highly liquid assets. The government makes investments within severe budgetary constraints caused by a plunge in prices for crude oil and a decrease of the current tax base with the decline in real household incomes and industrial and commercial business profits. The volume of foreign investments into the Russia’s economy has considerably dropped, with the restricted access to international financial markets having an adverse effect on the investment market
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
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
