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Russian Growth Path and TFP Changes in Light of the Estimation of Production Function using Quarterly Data

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  • Kuboniwa, Masaaki

Abstract

We present estimations of a Cobb-Douglas production function with a steady change in TFP (total factor productivity) for the Russian economy, using quarterly data for the favorable period 1998Q3–2008Q2 and the period 1995Q1–2010Q2 as well. Compiling our baseline data on capital and labor adjusted for utilization, we explicitly present estimations of the coefficients (the capital distribution ratio and TFP) of production function, which show that TFP is the major growth source, followed by the capital contribution. We also show results of measurement of Russia‟s GDP gaps as the differences between potential and actual GDPs based on the production function and the Hodrick-Prescott filter.

Suggested Citation

  • Kuboniwa, Masaaki, 2011. "Russian Growth Path and TFP Changes in Light of the Estimation of Production Function using Quarterly Data," RRC Working Paper Series 30, Russian Research Center, Institute of Economic Research, Hitotsubashi University.
  • Handle: RePEc:hit:rrcwps:30
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    File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/18940/1/RRC_WP_No30.pdf
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    References listed on IDEAS

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    1. International Monetary Fund, 2000. "The Great Contractions in Russia, the Baltics and the Other Countries of the Former Soviet Union; A View From the Supply Side," IMF Working Papers 00/32, International Monetary Fund.
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    Cited by:

    1. repec:dgr:rugggd:gd-137 is not listed on IDEAS
    2. Marcel P. Timmer & Ilya B. Voskoboynikov, 2014. "Is Mining Fuelling Long-Run Growth in Russia? Industry Productivity Growth Trends Since 1995," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S2), pages 398-422, November.
    3. Kuboniwa, Masaaki, 2014. "The Impact of Oil Prices, Total Factor Productivity and Institutional Weakness on Russia’s Declining Growth," RRC Working Paper Series 49, Russian Research Center, Institute of Economic Research, Hitotsubashi University.
    4. repec:eee:juecon:v:104:y:2018:i:c:p:16-34 is not listed on IDEAS
    5. Ville Kaitila, 2016. "GDP growth in Russia: different capital stock series and the terms of trade," Post-Communist Economies, Taylor & Francis Journals, vol. 28(2), pages 129-145, April.
    6. Kuboniwa, Masaaki, 2014. "A comparative analysis of the impact of oil prices on oil-rich emerging economies in the Pacific Rim," Journal of Comparative Economics, Elsevier, vol. 42(2), pages 328-339.
    7. Alexander S. Skorobogatov, 2016. "Spatial Equilibrium Approach to the Analysis of Income Differentials Across Russian Cities," HSE Working papers WP BRP 149/EC/2016, National Research University Higher School of Economics.
    8. Brock, Gregory, 2015. "The informal economy of Rostov Oblast on the eve of the Ukrainian refugee crisis," Journal of Policy Modeling, Elsevier, vol. 37(5), pages 789-803.

    More about this item

    Keywords

    Growth; TFP; Cobb-Douglas; Russia;

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • P24 - Economic Systems - - Socialist Systems and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation

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