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Technical Progress And Its Factors In Russia’S Economy

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  • György Simon, Jr

Abstract

In this paper long-term growth in Russia’s economy is viewed in the context of technical progress, based on both neoclassical and endogenous theories. The dynamics of economic growth with some aspects of catch-up development are examined, as well as capital deepening. TFP is quantified in terms of both output and productivity increases to reveal the leading role of embodied technical progress in productivity growth. An endogenous growth model helped to discern three complex factors of technical progress in the Russian economy, to which at the macro level a factor related to natural wealth (oil and gas resources) was added. This enabled the author to conclude that the most important macroeconomic factor of Russia’s technical progress in the half century from the early 1960s to the late 2000s was its immobile component. At the manufacturing level the situation was more complicated, as the initial leadership of creative technical progress was superseded by the dominance of the mobile factor. The collapse of the Soviet Union made the Russian economy more service-oriented and radically changed the conditions of economic modernisation, in which technology transfer ensured by FDI began to play a more prominent part, particularly after the default of 1998.

Suggested Citation

  • György Simon, Jr, 2010. "Technical Progress And Its Factors In Russia’S Economy," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 55(186), pages 7-41, July – Se.
    • Handle: RePEc:beo:journl:v:55:y:2010:i:186:p:7-41
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    References listed on IDEAS

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    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    2. Steven Rosefielde, 2003. "The Riddle of Post-war Russian Economic Growth: Statistics Lied and Were Misconstrued," Europe-Asia Studies, Taylor & Francis Journals, vol. 55(3), pages 469-481.
    3. György Simon, Jr, 2010. "On The Customs Union Of Belarus, Kazakhstan And Russia," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 55(184), pages 7-28, January –.
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    More about this item

    Keywords

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    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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