14.01.2022 – THE SECOND DAY OF THE GAIDAR FORUM-2022

Discussed on the second day of the Gaidar Forum were the following topics: the country’s macroeconomic priorities, development of private and public education, building of digital state, tax system priorities and other.

Vladimir Mau, Rector of the RANEPA was the moderator of the key session “Russia and the World: Macroeconomic Priorities” on the second day of the Gaidar Forum-2022. Panellists in the discussion included Elvira Nabiullina, Governor of the Central Bank of the Russian Federation (Bank of Russia); Maxim Reshetnikov, Minister of Economic Development of the Russian Federation; Anton Siluanov, Finance Minister of the Russian Federation.

In his opening remarks, Vladimir Mau noted that the world got used to living in a variety of crises. One may get an impression that discussions among economists are increasingly focused on what crisis is going to be next and what anti-crisis policy should be like, and less and less on positive agenda and economic growth models.

The speakers discussed the current social and economic situation in Russia, outlooks for sustainable development, as well as obstacles and incentives for economic growth. A particular attention was paid to inequality as an obstacle to economic growth. Panellists were unanimous that efforts should be focused on tasks and mechanisms facilitating future economic growth, primarily, its quality and sustainability.

Sergei Sinelnikov-Murylev, Scientific Director of the Gaidar Institute, Rector of the Russian Foreign Trade Academy took part in the work of the “Digitalization of Tax Administration: Opportunities and Risks” session. Digital development of tax administration reduces businesses’ tax compliance-related costs and facilitates greater sustainability of public finances at minimal cost. However, the digitalization of tax relations may require not only upgrading of administration systems, but also changes in the tax system, tax design impacted by digitalization, and, consequently, business practices nationwide. Given the critical role of taxes in the system of socioeconomic relations, the implications can be significant and not always easy to predict.

Experts discussed the following topics: Where is the tax administration system heading for: simplification or complication? What are the limits of tax automation in today’s environment? Tax experts or algorithms: competition or cooperation? What digital innovations can taxpayers expect in the mid-term? The panellists in the discussion included Daniil Egorov, Head of the Federal Tax Service of the Russian Federation and Boris Nuraliev, Founder, Director, 1С.

Today, the world is experiencing another food crisis: food price growth has already surpassed the level of the previous food crisis of 2006-2008. This crisis was undoubtedly triggered by the worldwide pandemic, which broke food chains, reduced labor mobility, and lowered the purchasing power of the population. Despite a decrease in effective global demand, there has been a considerable rise in global prices for many exchange commodities, including agricultural products since April 2020. World history shows that food crises normally lead to increased social tensions and conflicts in different parts of the world. Experts discussed the causes of the global food crisis and its impact on the Russian food systems within the “Global Food Crisis and Its Manifestation in Russia” session.

The panellists included Alexei Gordeev, Deputy Chairman of the State Duma of the Russian Federation, Vadim Moshkovich, Chairman of the Board of Directors, Rusagro and Eugenia Serova, Director of the Institute for Agricultural Research, National Research University Higher School of Economics. Sergei Sinelnikov-Murylev, Scientific Director of the Gaidar Institute, Rector of the Russian Foreign Trade Academy was the moderator of the discussion on the prospects of development of the French-Russian University, its priorities and opportunities. In recent years, network universities have been intensively developing in the world. Their emergence has sharply intensified the networking of universities in the global market of higher education. This leads to a more efficient use of all resources available to universities, ensuring availability of quality higher education to young people in countries that lack the necessary educational and scientific potential. At the same time, educational network requires upgrading the quality of management first of the universities within the network, and then the national systems of higher education.

The panellists in the discussion (some were present in the studio, while others participated in an online mode) were as follows: Eric Berton, President of Aix-Marseille University; Vladimir Vasiliev, Rector of the National Research University ITMO; Patrice Houdayer, Vice Dean, SKEMA Business School; Abdo Malac, Counsellor on Science and Technology, Embassy of the French Republic to the Russian Federation; Delphine Manceau, Dean of NEOMA Business School; Vladimir Mau, Rector, RANEPA; Karine Samuel, Vice-President for International Relations and Outreach, University of Grenoble Alpes; Vladimir Filippov, President of RUDN University (People’s Friendship University of Russia); Vladimir Shevchenko, Rector of the National Research Nuclear University MEPhI.

The panellists were asked to speak on the following issues: What role does the development of the French-Russian University play in upgrading the quality of educational programs of its members? How does the development of the French-Russian University influence the development of scientific research in the emerging network? Has the coronavirus pandemic affected the global higher education market? Has it hit network universities or has the development of network universities, on the contrary, mitigated the blow of the pandemic on the higher education systems of those countries that are working to create university networks? How do new technologies influence the development of network universities?

In 2021, the global economy is growing at an impressive pace and most countries have overcome the pandemic-induced recession by early 2022. In many leading economies, both fiscal and monetary policies remain rather soft despite the phasing out of large-scale support measures for households and businesses. While classical economic theory predicts stagflation and a financial crisis in such a situation, the new monetary theory offers an explanation of why such a policy allows to overcome years of stagnation. The sharp rise in inflation in the U.S. and then in European countries has become a reason to wonder how sustainable the current fiscal and monetary policies in advanced economies are, and how likely the global financial crisis is. In addition, the goal of achieving and maintaining sustainable GDP growth in the post-pandemic period is not only to ensure the necessary level of fixed capital investment and increase economic productivity. The post-pandemic economy itself must change dramatically, and economic growth will only be assured if supply matches changing demand and consumer preferences. Pavel Trunin, Director of the Center for Macroeconomics and Finance, Gaidar Institute, Director of the Research Center for Central Banks Issue, RANEPA was the moderator of the discussion on “The Macroeconomic Policy After the Pandemic” which was joined by James Kenneth Galbraight, Professor of the University of Texas, Austin (USA), Maxim Oreshkin, Aide to the President of the Russian Federation and Kenneth Rogoff, Thomas D. Cabot Professor of Public Policy, Professor of Economics, Harvard University.

The panellists highlighted the prospects of recovery growth and risks of new pandemic waves, causes and consequences of high inflation in the USA, Europe and Russia; discussed a view from classical and monetary theory on monetary policy in 2020-2021, as well as structural shifts in the post-COVID economy (green technologies, logistics challenges, bottlenecks in global production, new consumption pattern); answered the question whether the world should expect a new financial crisis.

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