Comparative Cross-Country Analysis of Sustainable Development of Russian Economy

¹ Tomsk State University, Institute of Economics and management, 634050 Lenin Avenue, 36, Tomsk, Russia
² Plekhanov Russian University of Economics, 117997 Stremyanny lane 36, Moscow, Russia

^* Corresponding author: riv58@yandex.ru

Abstract

This article addresses the phenomena of sustainable development of national economies driven by global inconsistency between nature resource intensive material production and severely limited natural resources. As a result, there is an increasing need for transition to global environmentally sound production. The article tests out the hypothesis about the mixed revolutionary and evolutionary nature of the sustainable development of the Russian economy. This type of sustainable development implies considerable fluctuations of its level depending on the scale and intensity of innovation activities. The results of the factor research and comparative cross-country analysis of the integral stability of the Russian economy are presented. The article provides the rationale for using more differentiated factors to rate national economies by the level of their dynamic sustainability. Dynamic sustainability factors that were identified made it possible to rate Russia’s economy among other national economies by the level of its sustainable development. The article suggests causes for the potential decrease in the sustainability of the Russian economy in the context of the deployment of the ‘Industry 4.0’ global production and technology platform. It also sets out conditions as well as measures to reduce the risks of considerably unbalancing functional systems of the Russian economy.