Russia was predicted to slide into the “economy of yesterday”
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Tough Western sanctions against the backdrop of counter-sanctions from Russia, as well as the desire for import substitution, led to a strong shock to human capital in the Russian Federation. As a result, he is forced to adapt to the “closed economy of yesterday.”
about this in his article writes Vladimir Gimpelson, director of the HSE Center for Labor Studies. The expert notes that adaptation to sanctions leads to the use of simpler and older technologies while avoiding new ones.
According to him, because of this, Russia could lose a significant part of its human capital, which was created for use in an open economy embedded in global chains.
Earlier, the head of the Russian Central Bank, Elvira Nabiullina, said that the impact of Western sanctions on the country’s economy should not be underestimated.
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