Sponsored by Institute of Russian, Eastern European, Central Asian Studies Chinese Academy of Social Sciences
ISSN 1671-8453 CN 10-1168/D
6 issues per year
Discipline(s): Economics & Finance
Current Issue: Issue 06, 2014
Russian Central Asian & East European Market is supervised by Chinese Academy of Social Sciences, and sponsored by Institute of Russian, Eastern European, Central Asian Studies, Chinese Academy of Social Sciences. It aims to reflect the latest achievements of economic research in transition countries such as Russia, Eastern Europe and Central Asia, and to evaluate academic and economic hotspots in a timely manner. Its scope covers all the field of economic activities in Russia, Eastern Europe, Central Asia and other European and Asian countries.
Kong Tianping, Feng Yumin, Zhu Xianping, Liu Junmei, Lu Nanquan, He Tao, Li Jianmin, Li Fuchuan, Zhang Yangzhi, Lin Yueqin, Zhou Suyuan, Zhao Chuanjun, Gu Li, Guo Liancheng, Xu Poling, Gao Xiaohui, Chang Bin, Cheng Yijun, Jing Weimin, Tong Wei, A.B. Островский
In order to promote regional innovation and development, the government of the Russian Federation actively supports local governments to introduce their own unique regional development policies, and allows local governments to invest local revenue in regional development, which has stimulated regional social and economic development to a certain extent. Based on the in-depth analysis and discussion about the priorities of regional innovation and development policies, the measures of federal subjects to adjust investing activities, and the regional policy implementation mechanism, this article proposes the optimization model of Russia’s future innovation and development, as well as a series of complementary measures, including capital investment, construction of infrastructure, tax preference policies, consulting services, and legal protection, which provide practical reference for the future regional innovation and development of Russia.
The economic development of contemporary Russia can be divided into four eras: the full-blown recession, the recovery and growth, the financial crisis, and the post-crisis era. Every era has its own distinctive characteristics. Except for the serious recession under the impact of the international financial crisis in 2009, Russia has experienced its slowest economic development in 2013 since 1999. GDP growth rate in 2013 was only 1.3%, far below the average level before the financial crisis. The decline in economic growth was mainly caused by gloomy export, declining investment, and slow consumption growth. The main noteworthy issues on the post-crisis Russian economy include the national economy’s increasing dependency on energy and raw materials, a dramatic reduction in the stimulus of high oil prices on economic growth, and the current conservative fiscal policy limiting the expansion of investment. If Russia cannot effectively enlarge investment and create new economic growth points in the near future, its economic development will be subjected to stagnation or even recession.
Latvia has immediately started its course of political and economic transition since its independence in 1991. Since the adoption of the new Constitution in 1992, Latvia has been a nation with its politics characterized by separation of powers, a multi-party political system and ideological pluralism. The political transition in Latvia had given rise to political chaos with a negative impact on the organization of cabinet. Since 2005, the political system of Latvia grew mature, both presidential election and parliamentary election could proceed in an orderly way by the standards of the European Union, and the nation moved forward to a phase of stability and development. As for the economic transition in Latvia, it is a move from a planned economic system in the Soviet Union period to a market-oriented economy. Latvia primarily focused on developing economic and trade ties with other European countries, and meanwhile privatized its state-owned assets. It successfully joined the World Trade Organization (WTO) in 1999 and became a member of the European Union (EU) and the North Atlantic Treaty Organization (NATO) in 2004. Since then, Latvia has planned to enter the Eurozone, and implemented the economic policy of controlling domestic demand and inflation. Nevertheless, impacted by the financial crisis, Latvia’s economy shows a trend of declining. Under the deflation policy, Latvia got the financial deficit and deflation rate under control and successfully entered the Eurozone in 2014.