The issues to be discussed at the panel included: can past experience of economy recovery following crises of 1998 and 2008 be helpful at present; what sectors were driving growth of the Russian economy in the last decade, and are they able to perform this role in the future; what growth rate is feasible in 2021; what amendments to the national projects aimed at boosting growth are likely. In addition to that the panel participants specified key factors affecting productivity and output trends in Russia, suggested ways to support economy in the course of “coronacrisis”, and pointed out to economic policy measures that could accelerate economic growth.

The article presents the key results of scenario projections that underpinned the Strategy for long-term low carbon economic development of the Russian Federation to 2050, including analysis of potential Russia’s GHG emission mitigation commitments to 2050 and assessment of relevant costs, benefits, and implications for Russia’s GDP. Low carbon transformation of the Russian economy is presented as a potential driver for economic growth that offers trillions-of-dollars-worth market niches for low carbon products by mid-21st century. Transition to low carbon economic growth is irreversible. Lagging behind in this technological race entails a security risk and technological backwardness hazards.

The paper analyzes key achievements in sociocultural research of economic development for the last twenty years. Firstly, the paper describes the main approaches in sociocultural studies and key trends in empirical research (including causality issues). Secondly, it poses critical open questions in sociocultural research concerning the relationship between culture and institutions, within-country cultural differences, and culture in dynamics. It demonstrates how the research into culture is connected to the studies of social capital. Finally, the paper formulates the theses of the sociocultural economics research field.

The article considers the role of trust in the economy, the mechanisms of its accumulation and the possibility of using it as one of the growth factors in the future. The advantages and disadvantages of measuring the level of generalized trust using two alternative questions — about trusting people in general and trusting strangers — are analyzed. The results of the analysis of dynamics of the level of generalized trust among Russian youth, obtained within the study of the Institute for National Projects in 10 regions of Russia, are presented. It is shown that there are no significant changes in trust in people in general during the study at university. At the same time, the level of trust in strangers falls, which can negatively affect the level of trust in the country as a whole, and as a result have negative effects on the development of the economy in the future. Possible causes of the observed trends and the role of universities are discussed. Also the question about the connection between the level of education and generalized trust in countries with different quality of the institutional environment is raised.

The paper investigates cross-cultural differences across Russian regions using the methodology of G. Hofstede. First, it discusses the most common approaches in measuring culture and the application of the Hofstede methodology in subnational studies. It identifies the critical issues in measuring culture at the regional level and suggests several strategies to address them. Secondly, the paper introduces subregional data on individualism and uncertainty avoidance using a survey of students across 27 Russian universities. The data allow to establish geographical patterns of individualism in Russia. It is demonstrated that collectivism is most prevalent in the Volga region, while individualism characteristic becomes stronger towards the Far East. The findings are robust to the inclusion of various controls and different specifications of the regression model. Finally, the paper provides a discussion about the potential of applying the sociocultural approach in economics.

The article considers the ineffective balance of Russian informal institutions, which is blocking economic development. The possibilities of overcoming the inefficient equilibrium are limited by social norms, which are reproduced, among other things, in the system of higher education. Higher education is one of the most effective channels for transmitting social norms. According to the hypothesis of socialization by R. Inglehart and the hypothesis of “impressionable years” by P. Giuliano and A. Spilimbergo, the period of greatest mental plasticity, when values and behavioral attitudes are formed, falls on the period of early adulthood — from 18 to 25 years. The change in social norms in Russian universities was demonstrated on the basis of a longitudinal sociological survey of students of Russian universities conducted in 2014—2016 in 10 regions of Russia. It is proved that Russian students increase their loyalty to opportunism and violation of the rules as they grow older — there is a reproduction of inefficient social norms.

The article contains the analysis of initiative budgeting practices in five Russian regions: Altay, Stavropol, Kirov, Tver and Tula regions. Initiative (participatory) budgeting — the practice of engaging citizens into decision making on budget funds allocation, which is at the junction of formal and informal institutions: it is included in the system of state and municipal finances and is based on social ties and communication mechanisms in local communities. The article reveals that initiative budgeting has become a systemic managerial practice in the analyzed regions, which is used to distribute funds between municipalities on a competitive basis. The regularities of citizen participation, changes in the structure of their preferences regarding public infrastructure during the implementation of initiative budgeting programs have been identified, conclusions on the relationship between types of projects and co-financing by citizens, on the specifics of stimulating community involvement in public decision-making are drawn.