Economic Policy

Studies on Russian Economic Development

, Volume 21, Issue 5, pp 472-476

First online:

Economic crisis: Management and innovative development issues

  • B. N. Porfir’ev

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This article discusses the reasons for Russia’s vulnerability to the factors of the economic crisis. We propose a conception based on A.A. Bogdanov’s general theory of crisis and I. Shumpeter’s economic cycles. The concept involves crisis management as an alternative to traditional anticrisis approaches and the basis of a strategy for recovering from a crisis and the long-term innovative development of the economy.