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Title: SHADOW ECONOMY IN OIL AND GAS INDUSTRY AS THREAT TO RUSSIA’S ECONOMIC SECURITY: ISSUES AND OPTIONS
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SHADOW ECONOMY IN OIL AND GAS INDUSTRY AS THREAT TO RUSSIA’S ECONOMIC SECURITY: ISSUES AND OPTIONS
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1314-2704
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English
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21
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7.2
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• Prof. DSc. Oleksandr Trofymchuk, UKRAINE
• Prof. Dr. hab. oec. Baiba Rivza, LATVIA |
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The article assesses the size of the shadow economy of the Russian oil and gas industry. The article addresses factors in the shadow economy emergence and development in the oil and gas sector. The article justifies methods fighting the phenomenon. The article proposes a system of measures reducing the size of the shadow economy in the oil and gas sector and its impact on the economy of Russia. It has been proven that amid the crisis caused by the COVID-19 pandemic and political and economic sanction pressure of Europe and the USA, revenues from the shadow economy in the oil and gas sector remain one of the main potential sources for replenishing the federal budget, considering the state mobilization policy. High priority measures fighting the shadow economy in the industry are a more flexible fiscal policy and the oil and gas market liberalization. The following methods were used for the research: the economic-statistical method, economic analysis, methodology of the system analysis of socio-economic phenomena and processes. Results of the study can be used by state authorities for developing measures reducing the shadow economy in the oil and gas sector and minimizing its impact on the economy of Russia.
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conference
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21st International Multidisciplinary Scientific GeoConference SGEM 2021
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21st International Multidisciplinary Scientific GeoConference SGEM 2021, 16 - 22 August, 2021
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Proceedings Paper
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STEF92 Technology
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SGEM International Multidisciplinary Scientific GeoConference
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SWS Scholarly Society; Acad Sci Czech Republ; Latvian Acad Sci; Polish Acad Sci; Serbian Acad Sci & Arts; Natl Acad Sci Ukraine; Natl Acad Sci Armenia; Sci Council Japan; European Acad Sci, Arts & Letters; Acad Fine Arts Zagreb Croatia; Croatian Acad Sci
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863-870
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16 - 22 August, 2021
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website
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cdrom
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8205
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Oil and Gas Industry; shadow economy; liberalization of the Russian oil and gas market
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