ASSESSING THE IMPACT OF COVID-19 AND SANCTIONS ON THE ALTAI ECONOMY: A RECESSIONARY PERSPECTIVE
УДК 332.1:338.12 (571.150)
Abstract
In recent years, the crisis in the domestic economy, caused by COVID-19 (2019-2020) and the tightening of sanctions imposed by the US government, EU countries, and others, has affected the Russian economy and the economy and social sphere of the Altai Territory. This article aims to identify the dynamics of the region’s economic performance and critical parameters of the social sphere from 2017 to 2022, assess the state of the situation, and make short-term forecasts for its development.
The crisis of the domestic economy in recent years, caused by the COVID-19 (2019-2020) and the tightening of the sanctions imposed by the USA government, EU countries and some others, could not but affect the Russian economy, in particular the economy and social sphere of the Altai Territory. In this article, the authors made an attempt, based on the economic performance of the industries of the region and the critical parameters of the social sphere, to identity the dynamics in the period 2017-2022, to assess the state and short-team forecasts for the development of the situation.
The authors suggest that the way out of the recession is possible through an increase in innovative activity among industrial enterprises, implementation of an import substitution program, development of consumer goods production through investment, and the attraction of savings from the population. By implementing these measures, the authors believe that the Altai economy can recover and improve in the future.
Downloads
Metrics
References
Алтайский край в цифрах. 2017-2021 гг. Крат. стат. сб. / Управление Федеральной службы государственной статистики по Алтайскому краю и Республике Алтай. Барнаул, 2022. 188 с.
Сайт Министерства промышленности и энергетики Алтайского края. URL: https://www.alt-prom.ru (дата обращения: 25.12.2022).
Бородин В. А., Гагарина Г. Ю. Экономическая интеграция регионов как механизм выравнивания и роста их потенциалов // Федерализм. 2020. № 2. С. 80-85.
Голикова В. В., Кузнецов Б. В. Стратегии поведения российских предприятий обрабатывающей промышленности в отражении импорта в условиях экономических санкций // Вопросы экономики. 2021. № 7. С. 89-106.
Колодко Г. В. Дефицитфляция 3.0: экономика военного времени — государственный социализм — кризис на фоне пандемии // Вопросы экономики. 2021. № 10. C. 5-26.
Григорьев Л. М., Елкина Щ. С., Медникова П. А., Серова Д. А., Стародубцева М. Ф., Филипова Е. С. и др. Идеальный шторм личного потребления // Вопросы экономики. 2021. № 10. С. 27-50.
Григорьев Л. М., Павлюшина В. А., Музыченко Е. А. Падение в мировую рецессию 2020 // Вопросы экономики. № 5. С. 5-24.
Соболева С. В., Смирнова Ч. Е., Чудаева О. В. Изменение численности и половозрастной структуры населения Сибирского Федерального округа и его регионов в 1989-2017 гг. Оценка последствий и риски // Регион: экономика и социология. 2019. № 2 (102). С. 151-181.
Татаркин А. И., Дорошенко С. В. Регион как саморазвивающаяся социально-экономическая система. Переход через кризис // Экономика региона. 2021. № 1. С. 15-23.
Гриценко Г. М., Межина М. В., Поволоцкая О. А. Стратегические направления развития сельских территорий региона аграрной специализации (на примере Алтайского края) // Управленческие науки. 2019. № 9 (3). С. 6-16.
REFERENCES
Altai Krai in numbers. 2017-2021. Edge stat. Sat / Office of the Federal State Statistics Service for the Altai Territory, the Republic of Altai. Barnaul, 2022. 188 p.
Website of the Ministry of Industry and Energy of the Altai Territory. URL: https://www.alt-prom.ru (date of access: 25.12.2022).
Borodin V. A., Gagarina G. Vu. Economic integration of regions as a mechanism for equalization and growth of theiz potentials // Federalism. 2020. No. 2. Pp. 80-85.
Golikova V. V., Kuznetsov B. V. Bihaviral strategies of Russian manufacturing enterprises in relation to imports in the context of economic sanctions // Questions of Economics. 2021. No. 7. Pp. 89-106.
Kolodco G. V. Defiliation 3.0: wartime economic — state socialism — crisis against the backdrop of a pandemic // Economic ussues. 2021. No. 10. Pp. 5-26.
Grigoriev L. M., Yolkin Z. S., Medniva P. A., Serova D. A., Starodubtseva M. F., Filippova E. S. The perfect storm for personal consumplion // Economic ussues. 2021. No. 10. Pp. 27-50.
Grigoriev L. M., Pavlyshkina V. A., Murychenko E. A. Fall into the global recession 2020 // Economic issues.2020. No. 5. Pp. 5-24.
Soboleva S. V., Smirnova Ch. E., Chudaeva O. V. Changes in the number and sex and age structure of the population of the Siberian Federal District and its regions in 1989-2017. Assessment of consequences and ricks // Region: economic and sociology. 2019. No. 2 (102). Pp. 151-181.
Tatarkin A. I., Doroshchenko S. V. The region as a self-developing socio-economic system. Thansition through the crisis // Economy of the region. 2021. No. 1. Pp. 15-23.
Critsenko G. M., Mezina M. V., Povolotskaya O. A. Strategic Directions for the Development of Rusal Areas in the Region of Agricultural Specialization (in the example of the Altai Territory) // Management Science. 2019. No. 9 (3). Pp. 6-16.
Economics Profession Business is a golden publisher, as we allow self-archiving, but most importantly we are fully transparent about your rights.
Authors may present and discuss their findings ahead of publication: at biological or scientific conferences, on preprint servers, in public databases, and in blogs, wikis, tweets, and other informal communication channels.
Economics Profession Business (EPB) allows authors to deposit manuscripts (currently under review or those for intended submission to EPB) in non-commercial, pre-print servers such as ArXiv.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).