Harmonization of domestic and world prices for raw-material products in Russia's strategy of economic development

This article discusses how in the modern Russian economy domestic and export prices for basic resources-oil, gas, oil products, metals, timber, chemicals, and grain-should be related. The correlation between the level of domestic prices for raw materials and industrialization processes is shown. The need for a coherent industrial policy aimed at a more rapid development of the processing and manufacturing industries is underlined. The conclusion is that the various measures of indirect regulation of domestic prices for basic resources are a natural constituent of a reasonable economic development strategy for Russia. Some possible actions to curb the growth in domestic prices for raw materials and primary products are considered. © 2011 Pleiades Publishing, Ltd.