Zubarev Andrei V. – Candidate of Science, Economics, Senior Scientific Researcher of the Center for Studies of the Problems of Central Banks (Russian Presidential Academy of National Economy and Public Administration)
Lugovoi Oleg V. – Candidate of Science, Economics, Head of Research of the Center for Economic Modelling of Power Industry and Ecology (Russian Presidential Academy of National Economy and Public Administration)
Potashnikov Vladimir Yu. – Senior Scientific Researcher of the Center for Economic Modelling of Power Industry and Ecology (Russian Presidential Academy of National Economy and Public Administration)
In this paper an attempt has been made to identify the main economic growth and development determinants. For this purpose the authors have used Structural Equation Modeling (SEM) technique. Eventually, it has been revealed that the main factors influencing on the economic development are various institutional characteristics, as well as the level of integration into the international trade.
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