ECONOMIC GROWTH: HISTORICAL AND INSTITUTIONAL ASPECT
DOI:
https://doi.org/10.31618/ESSA.2782-1994.2021.1.74.127Keywords:
economic development, institutions, economic growth, entrepreneurship, entrepreneurial culture, economic freedom, extractive and inclusive institutions.Abstract
The article deals with the features of the socio-economic development of Russia, the issues of state intervention in the economy. Based on the analysis of the historical development of the post-socialist transition countries, it is shown that different countries with transit economies are characterized by special trajectories of entrepreneurship development. The importance of ethical, cultural and institutional factors in the implementation of entrepreneurship, the important role of traditions of economic behavior that explain the specifics of the longterm development trajectory of Russia is emphasized. For the countries of the post-socialist transition, the possibility of ensuring sustainable economic growth is determined by the different civilizational history at the previous stages of development and the need to form a modern institutional environment that promotes socioeconomic changes. In many ways, the factors influencing economic growth are the low level of innovation activity and competitiveness, as well as the growing influence of the state on the economy, the increase in its share due to the growth in the number and scale of state-owned companies, which limits the potential of Russian entrepreneurs within the framework of the domestic market. The main challenge to overcome dependence on previous development trajectories and prospects for long-term economic growth will be the formation of entrenched political institutions of civil society, guarantees of property rights, the rule of law, the independence of the judiciary, freedom of trade and the absence of strict state regulations.
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