ON STRATEGIES OF ECONOMIC GROWTH IN RUSSIA

In the context of the “new reality”, Russia needs clear guidelines and strategy of economic development of the country.The article aims to identify main approaches to the strategy formulation for economic development of the country and to perform comparative analysis and give the author’s recommendations.Authors employed systematic analysis and economic-statistical methods.Authors have identified the concept of endogenous economic development of Russia that is governing approach to the strategy formulation for the country’s economy. Authors provided interpretation of endogenous growth, which utilizes domestic endowment factors such as education, stocks and capital productivity, the amount of R&D, etc., and favorable exogenous (external) factors to create sustainable economic growth with positive GDP growth per capita. Authors performed the comparative analysis of the concepts of the strategy formulation for economic growth of the Center for Strategic Research, Stolypin club, the country’s leadership.In the process of strategy formulation for economic development, Russia’s real economy must be put at the center of the reproductive system. The banking system must work to satisfy needs real economy. The authors developed reommendations for reforms in the banking system