Stabilization Methods for Russian Economy: International and Regional Aspects

The study presents methods for stabilization of the Russian economy under the influence of sanctions for its successful reorganization and further economic growth. Based on information reports from the International Monetary Fund, the processes contributing to the fragmentation of the world economy are analyzed, and characteristics of the beginning of the deglobalization process are shown. The analysis of theoretical and empirical research on the impact of sanctions restrictions on the economies of different countries is presented. As a result, significant heterogeneity of their impact is observed. The introduction of an unprecedented number of economic and political restrictions that affected enterprises and sectors of the Russian economy is emphasized, which is explained by the specifics of the integration of industrial domestic companies into global production, the wide representation of foreign manufacturers at the regional level, and other factors. Using the example of the Russian fuel and energy complex, high-tech projects for the creation of domestic products are presented as part of technological sovereignty, which is a government program to ensure the independence of the Russian economy from external economic factors and global political trends. The strategic line of scientific and technological development and national security of the Russian Federation is shown. The key directions for adaptation of the economy of the country and regions are indicated by internal mechanisms, i.e. investment growth, building a stable foreign exchange sector, domestic demand expansion, and income growth of the country’s population. The role of foreign direct investment is analyzed, and prospects for investment interaction between international and Russian companies are identified to improve the existing investment climate in the country. The indicators that have a significant impact on the country’s investment climate are shown, i.e. macroeconomic stability, trade openness, the country’s provision with production factors, technological and infrastructural development, and most importantly, institutional development level. Based on World Bank data, the economic state of the Russian Federation is presented.