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Far East Priority: Macro-Sectors in the Russian Economy: Structural Aspects and Responses to the External Conditions Changes

Author

Listed:
  • Akindinova, N.

    (National Research University Higher School of Economics, Moscow, Russia)

  • Nazarova, A.

    (National Research University Higher School of Economics, Moscow, Russia)

  • Chepel', A.

    (National Research University Higher School of Economics, Moscow, Russia)

Abstract

The article includes the review of the structural changes in the Russian economy in 2005-2016 compared to some developed and developing countries. The authors suggest an institutional explanation to the slow-up of the structural changes in Russia. The modelled value added structure was constructed in terms of the primary income groups (hidden wages and salaries included) and the relationship between the gross operating surplus behavior and investment behavior for three macro-sectors of the Russian economy: commodity-driven business, large non-commodity-driven business, SME. It is shown in the article that the growth of the surplus share in the value added structure resulted into the investment growth only in the commodity-driven macro-sector. In the large non-commodity-driven sector the investment share declined under the surplus share growth. In SME sector the investment share was growing under the surplus share decline and wages and salaries share growth (including hidden wages and salaries). The authors suggest better taking the specific differences between the institutional macro-sectors into account when shaping the structural policy agenda.

Suggested Citation

  • Akindinova, N. & Nazarova, A. & Chepel', A., 2018. "Far East Priority: Macro-Sectors in the Russian Economy: Structural Aspects and Responses to the External Conditions Changes," Journal of the New Economic Association, New Economic Association, vol. 39(3), pages 128-137.
    • Handle: RePEc:nea:journl:y:2018:i:39:p:128-137
    as

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    References listed on IDEAS

    as
    1. Mironov, Valeriy V. & Petronevich, Anna V., 2015. "Discovering the signs of Dutch disease in Russia," Resources Policy, Elsevier, vol. 46(P2), pages 97-112.
    2. Akindinova, Natalia & Kuzminov, Yaroslav & Yasin, Evgeny, 2016. "Russia's economy: Before the long transition," Russian Journal of Economics, Elsevier, vol. 2(3), pages 219-245.
    3. repec:zbw:bofitp:2015_003 is not listed on IDEAS
    4. N. Akindinova & Ya. Kuzminov & E. Yasin., 2016. "Russia’s economy: Before the long transition," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 6.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    sectoral structure; economic growth; economic macro-sectors; structural policy;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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