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“Regulatory environment curse”, experts of FBK Economic club on Russian economy troubles

Date of publication
25.03.2011
On March 22 a meeting of FBK Economic Club was held where experts discussed a new economic model suggested by the Institute of Contemporary Development in report “Procuring Future”

According to the author of the new model, expert of the Institute of Contemporary Development, Nikita Maslennikov, soon Russia will have to get adjusted to a new global consumption strategy and reduction of Russia’s export associated thereof, to solve the problem with attracting investments and “regulatory environment curse”. Among the “growth drivers” Nikita Maslennikov named personal finance, structural modernization of financial sector, property protection policy and structural policy on the grounds of functional priorities.

Igor Nikolaev, Director of FBK’s Strategic Analysis Department named as deficiency of the model suggested, incredibly little consideration for competition development. “Building up a new economic model where the growth engine is private business investments in this case will also be impossible. Namely realizing that without investing in development it won’t be possible not only to increase but to keep your market share, so this prompts contributing in production”, the expert summed up.