Socio-economic development of Russia in terms of the BRICS countries’ development

  • Ilmir Nusratullin Department of Project Management and Marketing, Institute of Economics, Finance and Business, Bashkir State University, Ufa, Russia. https://orcid.org/0000-0001-7810-2945
  • Svetlana Kuznetsova Department of Economics of Enterprises and Organizations, Kazan Federal University, Naberezhnye Chelny, Russia. https://orcid.org/0000-0001-6554-3928
  • Yuliya Gazizyanova Department of Accounting and Statistics, Samara State Agrarian University, Samara, Russia.
  • Ekaterina Kutsenko Department of Management, Institute of Management, Orenburg State University, Orenburg, Russia. https://orcid.org/0000-0002-5860-542X
  • Lubov Berezhnaya Department of Management, Institute of Management, Orenburg State University, Orenburg, Russia. https://orcid.org/0000-0002-2782-7599
Keywords: poverty, socio-economic development, standard of living.

Abstract

The welfare of the population is largely dependent on the socio-economic development of the country. It is believed that the stronger the state’s economy, the higher the standard of living of the population. In the framework of this article, the socio-economic development of Russia in terms of the standard of living of the population is considered. It is concluded that over the past 5 years, despite an increase in the level of wages and per capita income, the standard of living of the population of Russia has decreased. The welfare of the citizens of Russia and the citizens of the BRICS countries is compared herein. It is concluded that the dynamically growing economies of India and China contribute to the improvement of the living standards of the population, while the problems in the economies of Russia, Brazil, and South Africa negatively affect the incomes of the population of these countries. The paper suggests incitement of the domestic demand as a factor in the development of the economy and thereby the standard of living.

Author Biographies

Ilmir Nusratullin, Department of Project Management and Marketing, Institute of Economics, Finance and Business, Bashkir State University, Ufa, Russia.

Ph.D. in Economics, Associate Professor, Department of Project Management and Marketing, Institute of Economics, Finance and Business, Bashkir State University, Ufa, Russia.

Svetlana Kuznetsova, Department of Economics of Enterprises and Organizations, Kazan Federal University, Naberezhnye Chelny, Russia.

Ph.D. in Economics, Associate Professor, Department of Economics of Enterprises and Organizations, Kazan Federal University, Naberezhnye Chelny, Russia.

Yuliya Gazizyanova, Department of Accounting and Statistics, Samara State Agrarian University, Samara, Russia.

Ph.D. in Economics, Associate Professor, Department of Accounting and Statistics, Samara State Agrarian University, Samara, Russia.

Ekaterina Kutsenko, Department of Management, Institute of Management, Orenburg State University, Orenburg, Russia.

Ph.D. in Economics, Associate Professor, Department of Management, Institute of Management, Orenburg State University, Orenburg, Russia.

Lubov Berezhnaya, Department of Management, Institute of Management, Orenburg State University, Orenburg, Russia.

Senior Lecturer, Department of Management, Institute of Management, Orenburg State University, Orenburg, Russia.

References

Abramov, M. (2017). Why is China's GDP growing and Russian’s GDP no? WHOTRADES.COM portal. Available at: https://s30285525606.whotrades.com/blog/43973804252 (in Russian).
G20 countries: GDP in dollars (2019). Economic and financial information portal ECONOMICDATA.RU. Available at: https://www.economicdata.ru/economics.php?menu=macroeconomics&data_type=economics&data_ticker=GDPIMF (in Russian).

Glinskiy, V., Serga, L., Alekseev, M., Samotoy, N. and Simonova, E. (2018). The Development of the Food Industry as a Condition for Improving Russia’s National Security. Procedia Manufacturing, vol. 21, 838-845, https://doi.org/10.1016/j.promfg.2018.02.191

Gnezdova, J., Stepanov, A., Savina, M., Dyatlova, O., & Gridneva, T. (2019). Attraction of Foreign Investments as A Condition for Regional Industrial Development in Russia. Amazonia Investiga, vol.8, issue 20, 263-270. Available at: https://www.amazoniainvestiga.info/index.php/amazonia/article/view/95

Golenkova, Z.T. (2016). Social Policy in Russia and China. Moscow, Russia: Novyj hronograf.

Idrisov, G., Ponomarev, Y. and Sinelnikov-Murylev, S. (2016). Terms of trade and Russian economic development. Russian Journal of Economics, vol. 2, issue 3, 279-301, https://doi.org/10.1016/j.ruje.2016.09.002

Living standards of the Russian population (2019). Data from Federal State Statistics Service of the Russian Federation. Available at: https://gks.ru/folder/13397 (in Russian).

Lukin, A. and Yakunin, V. (2018). Eurasian integration and the development of Asiatic Russia. Journal of Eurasian Studies, vol. 9, issue 2, 100-113, https://doi.org/10.1016/j.euras.2018.07.003

Medvedev, D. (2016). Social and economic development of Russia: Finding new dynamics. Russian Journal of Economics, vol. 2, issue 4, 327-348, https://doi.org/10.1016/j.ruje.2016.11.001

Pham, T., Talavera, O. and Zhang, M. (2018). Self-employment, financial development, and well-being: Evidence from China, Russia, and Ukraine. Journal of Comparative Economics, vol. 46, issue 3, 754-769, https://doi.org/10.1016/j.jce.2018.07.006

Rudoi, E.V., Petukhova, M.S., Ryumkin, S.V., Dobryanskaya, S.L. and Molyavko, A.V. (2019). Crop production in Russia 2030: Scenarios based on data from the scientific and technological development of the sector. Data in Brief, vol. 25, 103980, https://doi.org/10.1016/j.dib.2019.103980

Sharafutdinov, R.I., Akhmetshin, E.M., Polyakova, A.G., Gerasimov, V.O, Shpakova, R.N., Mikhailova, M.V. (2019). Inclusive growth: A dataset on key and institutional foundations for inclusive development of Russian regions. Data in Brief, vol.23, 103864, https://doi.org/10.1016/j.dib.2019.103864

Smirnova, A.S. and Lyashkova, E.S. (2019). Development dynamics of Russia and China on the basis of the selected ones social and economic indicators. Journal of Modern Research, vol.28, issue 5, 268-271. Available at: https://elibrary.ru/item.asp?id=36885575 (in Russian).

World Development Indicators (2019). Data from The World Bank Group. Available at: https://datacatalog.worldbank.org/
Published
2020-03-21
How to Cite
Nusratullin, I., Kuznetsova, S., Gazizyanova, Y., Kutsenko, E., & Berezhnaya, L. (2020). Socio-economic development of Russia in terms of the BRICS countries’ development. Amazonia Investiga, 9(27), 52-61. https://doi.org/10.34069/AI/2020.27.03.6
Section
Articles