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Investment break in the Russian economy: structural characteristics and turnaround perspectives



Investment break of 2013–2015 is the first prolonged period of continuous absence of capital investment growth over the last 17 years. After stagnation in 2013–2014, fixed capital investments in real terms have systemically lagged industrial output growth and GDP. Investment break not only lowers demand in the Russian economy and prevents growth of construction, machinery, industrial production and economy as a whole, but also freezes existing structural imbalances and technological gap of the Russian economy. Investment break duration and its significant disincentivizing effect on current and expected growth of the Russian economy explain the importance of analysis of structural characteristics of investment process and of sources of revival of capital investment.

Suggested Citation

  • Berezinskaya, Olga, 2016. "Investment break in the Russian economy: structural characteristics and turnaround perspectives," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 3, pages 30-45, June.
  • Handle: RePEc:rnp:ecopol:ep1632

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    References listed on IDEAS

    1. A. Ulyukaev & V. Mau., 2015. "From Economic Crisis to Economic Growth, or How to Prevent the Crisis from Turning into Stagnation," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 4.
    2. A. Aganbegyan., 2015. "How National Budget Can Provide Economic Growth," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 7.
    3. V. Mau., 2016. "Anti-crisis measures or structural reforms: Russia’s economic policy in 2015," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 2.
    4. O. Berezinskaya & A. Vedev., 2015. "Dependency of the Russian Industry on Imports and the Strategy of Import Substitution Industrialization," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 1.
    5. O. Berezinskaya., 2016. "Lending to the non-financial sector: Opportunities and limitations," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 3.
    6. O. Berezinskaya & A. Vedev., 2014. "Investments in the Russian Economy: Their Potential and Activation Directions," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 4.
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    More about this item


    fixed capital investments; investment break; structure of fixed capital investments; sources of financing of investments;

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity


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