Chances and Risks for Russia's Economy

Effective development of any country is impossible without a competitive economy. One of the main ways to solve existing problems in the national economy is to achieve a high level of competitiveness. The current international trends are globalization and internationalization and the worsening of economic, trade and political relations among countries, especially with Russia – calls for national economies to struggle for the best place in the rankings of global competitiveness. Despite the introduction of economic sanctions against Russia by a number of countries, primarily by the United States and Western Europe, and a sharp drop in world oil prices, the general downturn in the economy and a number of other problems, the Russian economy has managed to improve its position in the global competitiveness ranking compiled by the World Economic Forum in 2015 and get into the top 50 countries in the world. The main purpose of the article is to analyze the competitive advantages of Russia and the factors that negatively affect the Russian economy, which determine the country's position in the ranking of global competitiveness. The objective of this paper is to analyze the ranking methodology, the dynamics of Russia's position in the ranking, as well as to reveal the factors of success and failures of the Russian economy. The Russian economy was analyzed by the means of the 114 indicators that form the basis of global competitiveness ranking. The study finds the factors having allowed Russia to rise by 22 position points and reach the 45th place out of 140 countries in the ranking of global competitiveness, as well as identifies obstacles to the full realization of the competitive potential of the Russian economy and the efficient use of Russia's competitive advantages.

1. Dementieva A.G. Modeli korporativnogo upravleniya: opyt zarubezhnykh stran i Rossii [Models of Corporate Governance: Record of Foreign Countries and Russia]. Pravo i upravlenie XXI vek. 2008. No. 3. P. 71-82.

2. Isachenko T.M. (2013). Problemy ispol’zovaniya instrumentov gosudarstvennogo regulirovaniya vnesheneekonomicheskoj deyatel’nosti na sovremennom etape [Problems with the Use of the Instruments of State Regulation of Foreign Economic Activity Today]. Gosudarstvennyj audit. Pravo. Ekonomika. No. 3. P. 143-151.

3. Isachenko T.M. (2015). Ekonomicheskaya diplomatiya v usloviyakh politicheskogo krizisa [Economic Diplomacy under Conditions of Political Crisis]. Vestnik SPbGU. Ser. 5. No. 3. P. 46-64.

4. Sheveleva A.V., Efimova N.V., Zagrebel’naya N.S. (2009). Ekonomika predpriyatija [Economy of the Industry]. Moscow: IIT. 342 p.

5. Sheveleva A.V., Zubkov V.G. (2013). Gosudarstvennoe regulirovanie i stimulirovanie innovatsionnoj deyatel’nosti [State Regulation and Stimulation of Innovation Activity]. In Innovatsii v obrazovanii i ekonomike 2013. Moscow: TSKT. P.21-27.

6. Sheveleva A.V., Zubkov V.G., Zagrebel’naya N.S. (2015). Informatizatsiya obrazovaniya – innovatsionnyj pyt’ razvitiya Rossii [Informatization of Education – Innovation Path for Russian Development]. Investitsii i innovatsii. No. 5. P.18-21.

7. Zagrebel’naya N.S. (2009a). Analiz pozitsii SSHA v rejtinge global’noj konkurentosposobnosti [Analysis of U.S. Place in the Global Competitiveness Ranking]. Ekonomicheskie nauki. No. 52. P.364-368 Zagrebel’naya N.S. (2009b). Mezhdunarodnaya konkurentosposobnost’ amerikanskoj ekonomiki [International Competitiveness of the American Economy]. Vestnik MGIMO Universiteta. No. 3-4. P. 42-53.

8. Zagrebel’naya N.S. (2010). Mezhdunarodnaya konkurentosposobnost’ avtomobilestroitel’nykh kompanij SSHA [International Competitiveness of the U.S. Car Producing Companies]. Moscow: Flinta. 200 p.