Russian economy in the conditions of institutional transformation of moving towards a multipolar world

Aim. To identify the key institutional characteristics of the transition to a multipolar world and to substantiate the directions of development of the Russian economy during this transition, contributing to the restoration of Russia’s position as an economic and political center of power in the new model of the world order.

Objectives. To consider the institutional foundations of the world order to determine the place of multipolarity among other types of world order; to trace the features of the transition to a multipolar world as an institutional transformation from the point of counteraction to the dominance of one superpower; to formulate the directions of transformation of the Russian economy during the transition to a multipolar world.

Methods. Using general methods of scientific cognition, as well as institutional and civilizational approaches, the paper considers the transition to a multipolar world as a natural stage of transition to a new model of world order, reflecting the evolution of world economic patterns and their corresponding world orders.

Results. The regulatory functions of formal and value-ethical institutions in the institutional environment of the world order, as well as the role of states and civilizations as their sources and guarantors are determined. Institutional gaps in the models of unipolar and multipolar worlds are revealed. The thesis that the movement to the multipolar world model implies institutional transformation in economic, socio-spiritual and political aspects is substantiated. The role of values and conscious efforts of states in the transition to a multipolar world is shown. The main challenges and threats in the transition to a multipolar world for the Russian economy are identified and the directions of efforts necessary for its strengthening are formulated.

Conclusions. The transition to a multipolar world is a complex process of transformation of the institutions of the world order and the world economic order on the basis of taking into account the national interests and values of a large number of global actors. During the period of institutional transformation of the transition, the Russian state faces new challenges in the sociovalue, economic and political spheres. The development of the Russian economy in the transition period should become the basis for strengthening the economic and political power of the country, its national sovereignty and provide a worthy place for Russia in the new model of the world order.

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