COUNTERFEIT - A LINK IN THE ECONOMIC CHAIN OF COMPANIES’ BANKRUPTCIES

• Main Authors: А. А. Bakulina, J. V. Raudsepp
• Format: Article
• Language: Russian
• Published: Government of the Russian Federation, Financial University 2017-10-01
• Series: Финансы: теория и практика
• Subjects: counterfeit; bankruptcy proceedings; insolvency institute; counterfeit products; counterfeit product markets; the cost
• Online Access: https://financetp.fa.ru/jour/article/view/251

The current crisis in 2015 is a consequence of the sanctions policy of the Western countries against Russia. To the worsening economic situation in the country affects the totality of the echoes of the previous crisis in 2008 and the restrictions adopted in respect of Russian-member countries of the EEC. State of the economy beginning to deteriorate sharply in 2014, and was mainly caused by the sanctions of Western countries and the United Statesfollowing the events in Ukraine and the annexation of Crimea to the Russian Federation composition. The crisis in 2014-2015 in Russia was triggered by a sharp decline in prices on the delivered energy to Europe. This article in detail describes the mechanism of the negative economic impact of counterfeit goods on the domestic producers, the system functioning of markets of counterfeit products, illegal strategies companies use to sell products as well as innovative measures to combat counterfeit products and the protection of the national economy and Russian citizens against counterfeiting. Today, when the Russian economy has experienced prolonged economic crisis, this system can help to stabilize the economy, to raise additional funds in the state budget and increase national economic security.