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Terms of trade and economic development of modern Russia

Author

Listed:
  • Idrisov, Georgiy

    () (Gaidar Institute for Economic Policy)

  • Ponomarev, Yuriy

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

  • Sinelnikov-Murylev, Sergei

    () (Russian Forign Trade Academy)

Abstract

The paper discusses the trends of economic development of Russia in the late 2014 - early 2015, and the basic mechanisms of the effect of changes in the terms of trade in the economic development of both countries in a historical perspective and with a focus on changes taking place in the period under consideration in the Russian economy. The authors conclude that in order to ensure sustainable economic growth and social stability needed structural reforms aimed at diversifying production and exports, to reduce the degree of influence of the variability of terms of trade on the Russian economy. In periods of instability in the real and financial sectors in the structure of government action is needed not only to compensate for the economic losses caused by agents of change in terms of trade, but also a structural improvement of the economy, development and improvement of the stability of the financial markets.

Suggested Citation

  • Idrisov, Georgiy & Ponomarev, Yuriy & Sinelnikov-Murylev, Sergei, 2015. "Terms of trade and economic development of modern Russia," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 3, pages 7-37.
  • Handle: RePEc:rnp:ecopol:1532
    as

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    File URL: ftp://w82.ranepa.ru/rnp/ecopol/1532.pdf
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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