The Russian growth path and TFP changes in light of estimation of the production function using quarterly data
AbstractThis article presents estimations of a Cobb-Douglas production function with a steady change in total factor productivity (TFP) for the Russian economy using quarterly data for the favourable period 1998Q3-2008Q2 and the period 1995Q1-2010Q2 as well. Compiling our baseline data on capital and labour adjusted for utilisation, we explicitly present estimations of the coefficients (the capital distribution ratio and TFP) of the production function, which show that TFP is the major growth source, followed by the capital contribution. We also show results of the measurement of Russia's GDP gaps as the differences between potential and actual GDP based on the production function and the Hodrick-Prescott filter.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Post-Communist Economies.
Volume (Year): 23 (2011)
Issue (Month): 3 ()
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Web page: http://www.tandfonline.com/CPCE20
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- Timmer , Marcel P. & Voskoboynikov , Ilya B., 2013.
"Is mining fuelling long-run growth in Russia? Industry productivity growth trends since 1995,"
BOFIT Discussion Papers
19/2013, Bank of Finland, Institute for Economies in Transition.
- Voskoboynikov, Ilya B. & Timmer, Marcel, 2013. "Is Mining Fuelling Long-run Growth in Russia? Industry Productivity Growth Trends since 1995," GGDC Research Memorandum GD-137, Groningen Growth and Development Centre, University of Groningen.
- World Bank & National Research University – Higher School of Economics, 2013. "Developing Skills for Innovative Growth in the Russian Federation," World Bank Other Operational Studies 16100, The World Bank.
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