Professor, Head of Chair of World Economy, Department of World Economy and International Affairs, National Research University Higher School of Economics; Chairman of the Board, World Wildlife Fund Russia (since 2006); Member, Council on Foreign and Defense Policy (CFDP); Member, Valdai Discussion Club
Previous positions: Research Fellow, Head of the Sector, Institute of World Economy and International Relations, Russian Academy of Sciences (1971-1991); Deputy Minister of Finance and Economy, Chairman of Foreign Investment Committee (1991-1992); Advisor to Executive Director, World Bank (1992-1997); CEO, Bureau of Economic Analysis (1997-2001); Chairman of the Board, Expert Institute (2001-2009); President, Institute for Energy and Finance (2004-2010).
Research interests: global and Russian economy and energy, business cycle and forecasting; interests of social strata, middle class in Russia; property rights, corporate governance and privatization; capital formation and private finance.
Author of more than 300 publications.
The oil and gas production boost in the US may propel the country to the top of the hydrocarbons industry before the year is out. It has already influenced the Russian energy industry because the Shtockman field is basically frozen, as it was intended for exports to the US.
The interaction within BRICS has drawn a variety of comments – from sarcasm to the expectation of miracles. But the aggravation of problems with the sustainability of global development in 2008-2013 has brought the role of those states into the limelight to show that global decisions will not be necessarily found inside Bretton-Woods institutions or the OECD.
Investments among BRICS countries are staying on the very low rate. At the moment BRICS countries mainly invest to developed countries (USA, EU), and also to countries which are close with their geographic position. The BRICS Development bank could play the role of new integral institution.
Usually a crisis is triggered by some disaster, like the collapse of Lehman Brothers in September 2008. When this happens, consumption declines more than earnings because people start saving out of fear. But consumption has come back to normal in Russia in the past two years. We can expect a slowdown of domestic demand because of the expectation of the crisis, but to avoid this we must stop scaring the public.
The democratic structure of society is contributing to the demand for a higher quality of life. The prosperous part of the middle class differs from the bulk of the population by its greater demand for democracy.
Russia is one of the world’s largest energy suppliers and players on the energy market. It produces 9.6% of the world’s primary energy and annually invests about 4.5% of its GDP in the energy sector. Therefore, it needs to make regular and thorough analyses of global energy markets for purposes of national strategic planning and corporate investment.
Over the past 20 years, the industry has been using facilities created during the Soviet era, and has only built a few new ones. The majority of its assets is obsolete and need to be repaired and upgraded. Humanity is starting to save resources by using energy efficient technology, alternative fuels, and renewable sources of energy.