On the Balance of a Multi-Level Economy

Abstract— The scientific school of A.I. Anchishkin, Yu.V. Yaremenko, and V.V. Ivanter has shown that the multilevel Soviet economy, and subsequently the Russian economy, are characterized by high technological heterogeneity and large-scale compensation and substitution effects between sectors that employ high-quality (specialized) versus mass resources. In the Soviet economy, an extreme concentration of high-quality resources occurred within the military-industrial complex, which acted as a brake on the development of civilian sectors. In the contemporary Russian economy, imports—along with the fuel and raw-materials export complexes that finance them—play a special role in maintaining the integrity of the economic system and supplying high-quality resources. The challenge posed by the current stage of development is to build a sovereign economy, which requires deeper domestic value chains and the restoration of missing industrial links. The governance system of such a multilevel economy, together with its developmental heterogeneity, necessitates complex, heterogeneous quasi-market monetary and financial processes and a flexible strategic management system.