National Currency Rate and the Russian Economy Dependence on Import
Nature of the Russian economy dependency on import has gained special relevance in the result of weakening of national currency. Starting from 2005 the effect of foreign imports on Russian economy has undergone considerable changes. While during the period of rapid growth imports were primarily driven by consumer goods, after the crisis import structure has shifted towards greater importance of goods for businesses including semi-finished products. Current article analyzes the evolution of Russian import of intermediate, consumer and investment goods. Decrease of the extent of dependency on import will become crucial for boosting the economic activity in the context of deepening complications of the foreign trade and weakening of national currency. Therefore, in the conclusion of the analysis, the paper suggests ways for import substitution industrialization as a driver of economic growth in medium-term prospect.
Volume (Year): 1 (2015)
Issue (Month): (February)
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- V. Mau & A. Ulyukaev., 2014. "Global Crisis and Trends of Economic Development," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 11.
- A. Kudrin & E. Gurvich., 2014. "A New Growth Model for the Russian Economy," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 12.
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