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Terms of trade and economic development of modern Russia

Listed author(s):
  • 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)

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.

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File URL: ftp://w82.ranepa.ru/rnp/ecopol/1532.pdf
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Article provided by Russian Presidential Academy of National Economy and Public Administration in its journal Economic Policy.

Volume (Year): 3 (2015)
Issue (Month): ()
Pages: 7-37

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Handle: RePEc:rnp:ecopol:1532
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  1. Andrew B. Bernard & J. Bradford Jensen & Stephen J. Redding & Peter K. Schott, 2007. "Firms in International Trade," Journal of Economic Perspectives, American Economic Association, vol. 21(3), pages 105-130, Summer.
  2. Mikael Lindahl & Alan B. Krueger, 2001. "Education for Growth: Why and for Whom?," Journal of Economic Literature, American Economic Association, vol. 39(4), pages 1101-1136, December.
  3. Pinelopi Koujianou Goldberg & Michael M. Knetter, 1997. "Goods Prices and Exchange Rates: What Have We Learned?," Journal of Economic Literature, American Economic Association, vol. 35(3), pages 1243-1272, September.
  4. Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476, July.
  5. Tim Atkin & Mark Caputo & Tim Robinson & Hao Wang, 2014. "Macroeconomic Consequences of Terms of Trade Episodes, Past and Present," CEH Discussion Papers 022, Centre for Economic History, Research School of Economics, Australian National University.
  6. Markusen, James R., 1983. "Factor movements and commodity trade as complements," Journal of International Economics, Elsevier, vol. 14(3-4), pages 341-356, May.
  7. Harrison, Ann, 1996. "Openness and growth: A time-series, cross-country analysis for developing countries," Journal of Development Economics, Elsevier, vol. 48(2), pages 419-447, March.
  8. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1991. "The Allocation of Talent: Implications for Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 503-530.
  9. Basu, Parantap & McLeod, Darryl, 1991. "Terms of trade fluctuations and economic growth in developing economies," Journal of Development Economics, Elsevier, vol. 37(1-2), pages 89-110, November.
  10. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 407-443.
  11. Fischer, Stanley, 1993. "The role of macroeconomic factors in growth," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 485-512, December.
  12. Georgy Idrisov & Sergey Sinelnikov-Murylev, 2014. "Forming Sources for a Long-run Growth: How to Understand Them?," Working Papers 0096, Gaidar Institute for Economic Policy, revised 2014.
  13. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
  14. G. Idrisov & S. Sinelnikov-Murylev., 2014. "Forming Sources of Long-run Growth: How to Understand Them?," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 3.
  15. Jonathan Temple & Paul A. Johnson, 1998. "Social Capability and Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 113(3), pages 965-990.
  16. Roubini, Nouriel & Sala-i-Martin, Xavier, 1992. "Financial repression and economic growth," Journal of Development Economics, Elsevier, vol. 39(1), pages 5-30, July.
  17. Mendoza, Enrique G., 1997. "Terms-of-trade uncertainty and economic growth," Journal of Development Economics, Elsevier, vol. 54(2), pages 323-356, December.
  18. Paolo Mauro, 1995. "Corruption and Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 110(3), pages 681-712.
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