Ivan Lyubimov: Without the Access to Technologies the Resource Abundance Will Be Unable to Adequately Help the Economy

4th February Ivan Lyubimov, senior research of the Gaidar Institute, participated in the discussion "Can Russian Build 'Normal' Market Economy Prior to the Oil End up?" held by the Yegor Gaidar Foundation.

Discussion took place in the framework of the new cycle "Future of the Economy" dedicated to the debate of the sort- and long-term prospects of the Russian economy in the new circumstances as well as to the way of overcoming structural crisis in the economy. Participants in the discussion were: Vladislav Inozemtsev, Director of the Center for Post-Industrial Studies, Andrey Yakovlev, Director of the Institute for Industrial and Markets Studies NRU HSE, and Ivan Lyubimov, senior researcher of the Gaidar Institute for economic Policy. Boris Grozovsky, journalist and economic commentator, served as a moderator and author of the discussion.

Among topics s for discussion was the issue of "resource curse", examples of its resolution by resource rich countries and feasibility of structural reforms in the Russian economy aimed at removing oil dependence. In addition to traditional proposals for the fight against inefficient institutions and focus of attention on other sectors of the economy, an unexpected solution of the critical situation due to the fall of the oil prices was proposed in the framework of the current economic model of development. As it is unrealistic to stop oil extraction, Vladislav Inozemtsev pointed out to the spare Russia's potential in this sector by increasing efficiency in the oil extraction and refining in order to become the leader in this sphere. According to Andrey Yankovlev, an important step forward will be a new vision of the country's future which was lost in recent years by the Russian authorities and elites.