Searching for a New Growth Model

Abstract

The article discusses modern concepts and drivers that underlie economic growth models which serve as a basis for making economic and political decisions. Drawing on the fundamental economic growth mechanisms, the authors describe the differences among three competing Russian mid-term development strategies. They argue that some of the fundamental mechanisms seem to stop working (partly due to secular stagnation). Formulating the shapes of a new economic-investment model, the authors offer three hypotheses about new growth mechanisms that should be taken into account when building up an effective development strategy for our country.