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Living Standards in Russia in 2012

Author

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  • Svetlana Misikhina

    (Gaidar Institute for Economic Policy)

Abstract

Rapid economic growth early in the 2000s was accompanied by high growth rates in personal income. Personal real income grew up by 2.5 times as inequality increased insignificantly (Gini index was 0.42 in 2011 against 0.4 in 2000). In the first decade of the 21st century, the subsistence minimum increased mainly in response to its indexation to the consumer price index growth rate, thereby increasing the real personal income to subsistence minimum ratio (from 1.89 times in 2000 to 3.32 times in 2010). As a result, population with a substandard per capita money income and poverty level reduced by 2.3-2.4 times from the period between 2000 and 2010.

Suggested Citation

  • Svetlana Misikhina, 2013. "Living Standards in Russia in 2012," Published Papers 163, Gaidar Institute for Economic Policy, revised 2013.
  • Handle: RePEc:gai:ppaper:163
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    File URL: http://www.iep.ru/files/RePEc/gai/ppaper/163Misikhina.pdf
    File Function: Revised version, 2013
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    More about this item

    Keywords

    Russian economy; personal income; poverty; consumption;

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty

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