Overcoming the Crisis in Russia’s Foreign Trade

Abstract

This article analyzes the impact of Russia’s current crisis of foreign trade. The author estimates competitive advantages and factors of industrial growth, prospects for import substitution, and exports of key goods. He discusses scenarios to promote competitiveness, based on integration with foreign companies, conversion of military and hydrocarbon production, a emphasis on science, and the role of private finance, including improving the attractiveness of projects to domestic and foreign investors. The author concludes by formulating a policy concept for boosting foreign trade growth and overcoming the crisis.

Keywords:

• foreign trade
• sources of growth
• crisis
• competitiveness
• import substitution
• commodities export
• investment
• innovation