Economic growth in Russia: Influence of oil shock and macro-economic factors

Abstract

Topicality of the subject of the research is predetermined by dependence of the rates of modern economic growth in Russia on the situation on the world oil market, sanction policy of the Western countries, and such macro-economic factors as dysfunction financial market, structural shift of economy in favor of raw materials and processing spheres, and insufficient volume of investments into high-tech and social sectors of economy. The article includes results of analysis of dynamics of economic growth, views various groups of factors influencing economic growth of the country, including dynamics of world prices for oil, sanctions against Russia, development and problems of financial institutes, and structure of investments into main capital for the types of economic activities.