Impact of Economic Shocks on the Russian Reproduction System

The impact of external shocks on the Russian economy, which have intensified
\nsignificantly in the last decade, has a negative impact not only on the dynamics, but also on
\nthe structure of the economy, causing negative shifts in its “core” – the reproduction system.
\nThe slowdown in the processes of capital accumulation and the involvement of private
\nsavings in this process, the increasing dependence on government spending and technology
\nimports, the reduction in the share of profits and taxes in the business sector in the creation
\nof GDP – all that undermines the basis of long-term economic growth and increases its
\nsusceptibility to external shocks. The purpose of the study is to identify “problem” areas
\nin the structure of the economic reproduction system – processes that are most susceptible
\nto the effects of non-cyclical negative phenomena – shocks, and through this determine the
\nresistance of the entire system to them, in order to identify adequate directions for structural
\npolicy. The article confirms the decisive role of gross capital formation, the involvement of
\nprivate savings in investment, the formation of entrepreneurial profits, and the investment
\nof national advanced production technologies in protecting the reproduction system and,
\nthrough it, the entire economy from increasing external shocks and sanctions. The article
\nproposes the main directions of an integrated structural policy – comprehensive stimulation
\nof private investment, increasing the efficiency of production factors by accelerating the
\ncreation of the transfer of new technologies and renewal of fixed capital, promoting the
\nexport of technologies for the “markets of the future”