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Russia in World Economy: Current Status and Development Trends

Author

Listed:
  • Ivanova, N.

    (Institute of World Economy and International Relations (IMEMO) Russian Academy of Sciences, Moscow, Russia)

  • Machavariani, G.

    (Institute of World Economy and International Relations (IMEMO) Russian Academy of Sciences, Moscow, Russia)

Abstract

This paper is devoted to the analysis of the recently published results of International Comparisons Program (ICP) from the point of view of Russia's positions in world economy. The new data about real world GDP calculated on the basis of Purchasing Power Parities (PPP) has been discussed. The authors also presented their own calculations and forecast estimations for long-term economic growth trend. The main result of this program is connected with the bigger role of developing countries in world economy, the new G7. The rate of economic growth for Russia up to 2020, according to our estimations, will be lower than the average for developing countries and for the world economy as a whole. Russia's share in world economy will be decreasing.

Suggested Citation

  • Ivanova, N. & Machavariani, G., 2015. "Russia in World Economy: Current Status and Development Trends," Journal of the New Economic Association, New Economic Association, vol. 26(2), pages 231-236.
    • Handle: RePEc:nea:journl:y:2015:i:26:p:231-236
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    More about this item

    Keywords

    international economic comparisons; purchasing power parities; world economy structure and dynamics; economic forecasts;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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