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Report of Apurva Sanghi, "Russia integrates: deepening the country's integration in the global economy"

On April 19, Apurva Sanghi, Lead Economist of the World Bank, a partner of HSE University and Russia KLEMS, presented his report at the XXII HSE April Conference.

He presented the results of a study that examines the contribution of global value chains (GVC) to the development of the Russian economy over the past two decades, and identifies the possibilities of GVC as a locomotive of economic growth. The growth-enhancing capabilities of the GVC allow for the identification of potential obstacles, as well as for a number of economic policy proposals to address them.

While this study describes a sanctioned Russia—less connected to global markets, less innovative, and with less transparent private-public interactions that hinder fair competition—it also identifies significant potential benefits for the Russian economy from more intensive participation in the global division of labor. While sanctions remain a major obstacle to foreign direct investment, there are various measures that Russia could take to make its business climate more attractive for expanding trade and investment.