EDB: Recipe for Russia’s economic growth – synergy of European and Asian economic policy models
30 August 2016
Moscow, 29 August 2016. Russia is to find its path of economic growth, combining the European macroeconomic stability model with the Asian economic model of industrial policy, which synergy can produce the Eurasian model of Russia’s economic modernisation. Yaroslav Lissovolik, Chief Economist at Eurasian Development Bank (EDB), shared this view in his report during the regular Carte Blanche discussions held at the Swiss Embassy, Moscow, on 29 August 2016.
Yaroslav Lissovolik highlighted a number of positive trends marked in the Russian economy in spite of continuing economic growth challenges—noting in particular the significant deceleration of inflation, rouble exchange rate stabilisation, and lower capital outflows. However, the emerging signs of improvements in Russia’s economy should be supported with internal economic factors, primarily those promoting improvements in the investment climate.
In his presentation, Yaroslav Lissovolik also noted that greater integration of Russia into the Eurasian economic space would strengthen the country’s negotiation positions in discussions with other trading coalitions and alliances, resulting in deeper economic links between Europe and Asia. He stressed that Russia should also combine its integration efforts both in Europe and Asia to generate greater trade and investment flows.
Additional Information:
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
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