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Decomposition of the russian GDP growth rate in 1999-2014

Listed author(s):
  • Sinelnikov-Murylev, Sergei

    ()

    (Russian Foreign Trade Academy)

  • Drobyshevskiy, Sergei

    ()

    (Russian Presidential Academy of National Economy and Public Administration (RANEPA), Gaidar Institute for Economic Policy)

  • Kazakova, Maria

    ()

    (Russian Presidential Academy of National Economy and Public Administration (RANEPA), Gaidar Institute for Economic Policy)

The paper proposes a method of decomposition of the growth of Russia's GDP in the structural, foreign trade and the market component. The method is based on the algorithm of decomposition of macroeconomic indicators of developed countries, the revised specific to the Russian economy, which is characterized by a high dependence on foreign trade conditions (the dynamics of world oil prices). As a result of the calculations the authors identify several phases of economic growth in Russia in the period from 1999 to 2014: recovery growth (1999-2000); growth through increased investment and capital utilization (2001-2003), and also due to favorable terms of trade (2004-2008); overheating and economic crisis (2008-2009) and the subsequent new, lower phase of the business cycle (2010-2014).

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File URL: ftp://w82.ranepa.ru/rnp/ecopol/ep1457.pdf
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Article provided by Russian Presidential Academy of National Economy and Public Administration in its journal Economic Policy.

Volume (Year): (2014)
Issue (Month): (October)
Pages: 7-37

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Handle: RePEc:rnp:ecopol:ep1457
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