Russia: Reconciling Public Governance and Economic Development for Overcoming Crisis

Lvova, O.; Bobyleva, A.

Авторы: Lvova O., Bobyleva A.
Сборник: Global Encyclopedia of Public Administration, Public Policy, and Governance
Год издания: 2019
Издательство: SPRINGER
Местоположение издательства: VAN GODEWIJCKSTRAAT 30, DORDRECHT, NETHERLANDS, 3311GZ
DOI: 10.1007/978-3-319-31816-5_3821-1
Аннотация: In the later decade, Russia faced two severe economic crises. The first crisis of 2008–2009 was triggered by global economic fluctuations, but as a result Russia was one of the most affected economies: in 2009 gross domestic product (GDP) in Russia decreased by 7.9% (while in Japan by 6.1%, in Europe by 4%, in the USA by 3%). Such key economic indicators as industrial production, investments, real wages, and real household incomes also demonstrated negative dynamics (Aganbegian 2018). These dramatic consequences were the result of cumulative deformations of the Russian economy’s structure, high dependence on exports of natural resources, low competitiveness of non-resource industries, immaturity of the financial system, and market institutions as a whole (Bobyleva et al. 2011, 11).After the short period of economic rehabilitation and slow growth till the end of 2012, the next crisis of 2014–2015 occurred. It was provoked by both external factors and internal reasons. Geopolitical conflict followed by international economic sanctions, significant drop in world oil prices coupled with remaining cumulative deformations, and only partial implementation of government stabilization measures (monetary policy aimed at inflation targeting and contraction of money supply, currency devaluation, increase of key interest rate, etc.) have led to the deep recession.The government had to react to each crisis taking into account its nature and specific consequences. Policies of crisis overcoming had to include both urgent actions to “put out the fire” and long-term measures aimed at restarting economic growth.According to the authors’ idea of crisis management as a built-in stabilizer of sustainable economic development, plans of crisis management at the public level should provide long-term sustainability, but acute crisis also demands an appropriate reactive response to arising challenges. This paper examines the process of reconciling public governance and economic development for overcoming crises and justifies that current Russian public crisis policy includes majorly short-term stabilizing measures without a general systemic strategy of long-term sustainable economic development, i.e., “public crisis management” prevails over “public crisis governance.”
Добавил в систему: Львова Ольга Александровна

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