Russia from Bust to Boom and Back: Oil Price, Dutch Disease and Stabilisation Fund
AbstractThis paper develops and estimates a small macroeconomic model of the Russian economy. The model is tailored to analyse the impact of the oil price, the exchange rate, private sector confidence and fiscal policy on economic performance. Simulations suggest that the Russian economy is vulnerable to downward oil price shocks. We substantiate two mechanisms that mitigate the economic effects of oil price shocks, namely the stabilisation brought by the Oil Stabilisation Fund and the Dutch disease effect. The fiscal policies of the Putin administration temper economic fluctuations caused by oil price shocks. Comparative Economic Studies (2009) 51, 213–241. doi:10.1057/ces.2009.2
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Bibliographic InfoArticle provided by Palgrave Macmillan in its journal Comparative Economic Studies.
Volume (Year): 51 (2009)
Issue (Month): 2 (June)
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- Chakraborty, Suparna & Otsu, Keisuke, 2012.
"Deconstructing Growth - A Business Cycle Accounting Approach with application to BRICs,"
41076, University Library of Munich, Germany.
- Suparna Chakraborty & Keisuke Otsu, 2012. "Deconstructing Growth - A Business Cycle Accounting Approach with application to BRICs," Studies in Economics 1212, Department of Economics, University of Kent.
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