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National Currency Rate and the Russian Economy Dependence on Import
[Курс Национальной Валюты И Зависимость Российской Экономики От Импорта]

Author

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  • Berezinskaya, Olga (Березинская, Ольга)

    (Russian Presidential Academy of National Economy and Public Administration (RANEPA))

Abstract

Nature of the Russian economy dependency on import has gained special relevance in the result of weakening of national currency. Starting from 2005 the effect of foreign imports on Russian economy has undergone considerable changes. While during the period of rapid growth imports were primarily driven by consumer goods, after the crisis import structure has shifted towards greater importance of goods for businesses including semi-finished products. Current article analyzes the evolution of Russian import of intermediate, consumer and investment goods. Decrease of the extent of dependency on import will become crucial for boosting the economic activity in the context of deepening complications of the foreign trade and weakening of national currency. Therefore, in the conclusion of the analysis, the paper suggests ways for import substitution industrialization as a driver of economic growth in medium-term prospect.

Suggested Citation

  • Berezinskaya, Olga (Березинская, Ольга), 2015. "National Currency Rate and the Russian Economy Dependence on Import [Курс Национальной Валюты И Зависимость Российской Экономики От Импорта]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 112-125, February.
    • Handle: RePEc:rnp:ecopol:ep1513
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    File URL: https://repec.ranepa.ru/rnp/ecopol/ep1513.pdf
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    References listed on IDEAS

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    1. V. Mau & A. Ulyukaev., 2014. "Global Crisis and Trends of Economic Development," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 11.
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    Cited by:

    1. Berezinskaya, Olga, 2017. "Investment drought in the Russian economy: Structural characteristics and turnaround perspectives," Russian Journal of Economics, Elsevier, vol. 3(1), pages 71-82.

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