The Quantitative Assessment of the Cyclical Development in Modern Conditions

• Main Authors: Dmitriy A. Endovitskiy, Nikolay P. Lyubushin, Nadezhda E.a Babicheva, Tatyana A. Pozhidaeva
• Format: Article
• Language: English
• Published: University of Montenegro - Faculty of Economics Podgorica 2017-12-01
• Series: Montenegrin Journal of Economics
• Subjects: quantitative assessment; economic system; sustainable development; the law of cyclic development; russian economy
• Online Access: http://mnje.com/sites/mnje.com/files/109-119_endovitskiy_et_al.pdf

The article studies applicability of the resource-oriented approach in assessing the impact of extensive and intensive factors on stable and continuous development of economic systems under cyclic conditions. The quantitative assessment of impact of efficient resource utilization on structural growth rates of the economy dependent on domestic public policy showed that excessive development of financial services makes the economy quite vulnerable to external factors. Results of the research according to the suggested method show that Russian economy has been in crisis since 2006, which matches the downward wave of big economic dynamics cycle described by N. D. Kondratyev