How Large Was the the Output Collapse in Russia? Alternative Estimates and Welfare Implications
AbstractThe divergence between production and consumption indicators in Russia suggests that the magnitude of the output collapse in the course of the transition is overstated by the official statistics. Alternative estimates for real GDP are derived, which reconcile the official production and consumption data. Based on cautious assumptions, real GDP appears to have declined cumulatively by no more than one third rather than by one half. The drop in household welfare is much smaller still, as the output mix shifts and deadweight losses are sharply reduced.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 94/154.
Date of creation: 01 Dec 1994
Date of revision:
Contact details of provider:
Postal: International Monetary Fund, Washington, DC USA
Phone: (202) 623-7000
Fax: (202) 623-4661
Web page: http://www.imf.org/external/pubind.htm
More information through EDIRC
This paper has been announced in the following NEP Reports:
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Grootaert, Christiaan & Braithwaite, Jeanine, 1998. "Poverty correlates and indicator-based targeting in Eastern Europe and the Former Soviet Union," Policy Research Working Paper Series 1942, The World Bank.
- Dirk Bezemer & Uwe Dulleck & Paul Frijters, 2003.
"Socialism, Capitalism, and Transition - Coordination of Economic Relations and Output Performance,"
School of Economics and Finance Discussion Papers and Working Papers Series
168a, School of Economics and Finance, Queensland University of Technology.
- Paul Frijters & Dirk Bezemer & Uwe Dulleck, 2003. "Socialism, Capitalism, and Transition - Coordination of Economic Relations and Output Performance," Paul Frijters Discussion Papers 2003, School of Economics and Finance, Queensland University of Technology.
- Dirk Bezemer & Uwe Dulleck & Paul Frijters, 2003. "Socialism, Capitalism, and Transition-Coordination of Economic Relations and Output Performance," Vienna Economics Papers 0305, University of Vienna, Department of Economics.
- Paul Welfens, 1999. "Overcoming the Russian transformation crisis," Intereconomics: Review of European Economic Policy, Springer, vol. 34(3), pages 144-151, May.
- Ageeva Svetlana & Suslov Nikita, 2005. "Energy Consumption and GDP in Market and Transitional Economies," EERC Working Paper Series 05-05e, EERC Research Network, Russia and CIS.
- Klugman, Jeni & Braithwaite, Jeanine, 1998. "Poverty in Russia during the Transition: An Overview," World Bank Research Observer, World Bank Group, vol. 13(1), pages 37-58, February.
- M S Mohanty & Marc Klau, 2001. "What determines inflation in emerging market economies?," BIS Papers chapters, in: Bank for International Settlements (ed.), Modelling aspects of the inflation process and the monetary transmission mechanism in emerging market countries, volume 8, pages 1-38 Bank for International Settlements.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jim Beardow) or (Hassan Zaidi).
If references are entirely missing, you can add them using this form.