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• W2993522472 abstract "ABSTRACT Today practically all socio-political groups and blocs in Russia are debating the country's future along with opportunities of economical growth, but are suggesting very different ways of solving existing problems. This study will attempt to demonstrate if Russia is capable of becoming a strong powerhouse in the near future. After studying various points of view, the most likely result seems to be that Russia indeed does have an encouraging prospect. Russia's natural factors call for future growth and substantial development opening doors so that it may become one of the leading countries. However, the people and the political factors could divert that positive prospective outcome into three very different paths: sliding into a negative direction of past circumstances; maintaining its status quo with slow growth in a positive or a negative direction; or leaping forward into its natural potential of growth and prosperity. INTRODUCTION The Russian economy today is still a very close reflection of its USSR predecessor. Even though vast changes in organizational, institutional, and production structures of the economy have taken place, many still consider the last ten years of wasted and believe that the real reform is yet to begin. (1) Despite the fact that Russia's macroeconomic performance has been down, a large growth has occurred. The dead hand of the Soviet system stretches out across the economy and continues to slow down the process of recovery. Valuable resources serve as strong assets if employed correctly; however, in Russia they are dragged into wasteful activities and structures. According to the calculations of the Soviet Institute of World Economy and International Relations, Russia uses 1.5 times more materials and 2.1 times more energy per unit of national income than the United States. In his studies, Sowell stated that Russia produces 1.5 to 2 times more the amount of steel and cement compared to U.S.A., but the amount of items derived from them is only 50% of the American level due to inefficient use resources (Sowell, 12). Even though central planning was declined, the regulation functions of the government are still extremely high and do a lot of harm to private entrepreneurship. Besides, the wrong tax system leads to the fact that the only competitive goods in Russia are oil, gas, and other raw materials. The internal market of both food and consumer goods is filled with import because it is more beneficial to import these goods than to produce them. Still many refuse to look at weaknesses and are focused on the opportunities realizing the potential that lies within the boundaries of Russia. In 2003, new doors are wide opened for people to do businesses. As a result, many new entrepreneurs are fighting to break through the legacy's red tape left by the Soviet system and to destroy the old industrial objects by employing a new business vision, a vision that will change the country's destiny. The key is for everybody to grasp it. (2) As a result, Russia has yet to achieve a true market-economic system. Due to the fact that almost everything can be bought when it comes to political, or social issues, the characteristics of economic interaction and techniques used to make future improvements are unique and cannot be likened to a typical healthy functioning system. There is a question asked about credibility and dependability of gathered information, performance statistics, and policy impacts. However, there is an incredible amount of activity that leads to success and failure, experimentation and adjustments. This compels Russia's system to change and to take a step forward to another dimension of improvements. It is very difficult to predict Russia's future today because of many uncertainties. It is also important to realize that one single step could make a vital change, both in a good or bad direction. …" @default.
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• W2993522472 date "2007-09-01" @default.
• W2993522472 modified "2023-09-26" @default.
• W2993522472 title "Possibility of Russia Becoming a Strong Economic Power House" @default.
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