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Investment and Saving in Russian Macroeconomy. Compilation and Analyses of an aggregated SAM for Russia, 1995

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  • Yasushi Nakamura

Abstract

Assessing investment activity is a key to understanding the present Russian economy; the Russian official national accounts, however, do not give very much information on it because of their large statistical discrepancies. Using a matrix balancing method, we construct an aggregated Social Accounting Matrix (SAM), which integrates a Russian Flow of Funds table into the Russian national accounts and contains no discrepancies. Comparing the Russian SAM with Japanese and US SAMs, we find some characteristics of the Russian economy such as: a large current deficit in the non-financial corporation sector, different tax burdens for the institutional sectors, a low level of financial intermediation, and wage arrears as a kind of forced saving.

Suggested Citation

  • Yasushi Nakamura, 1998. "Investment and Saving in Russian Macroeconomy. Compilation and Analyses of an aggregated SAM for Russia, 1995," CERT Discussion Papers 9809, Centre for Economic Reform and Transformation, Heriot Watt University.
    • Handle: RePEc:hwe:certdp:9809
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    References listed on IDEAS

    as
    1. P.G. Hare, 1997. "Investment, Growth and Industrial Renewal in the Transition Economies," CERT Discussion Papers 9701, Centre for Economic Reform and Transformation, Heriot Watt University.
    2. Defourny, Jacques & Thorbecke, Erik, 1984. "Structural Path Analysis and Multiplier Decomposition within a Social Accounting Matrix Framework," Economic Journal, Royal Economic Society, vol. 94(373), pages 111-136, March.
    3. Schaffer, Mark E., 1998. "Do Firms in Transition Economies Have Soft Budget Constraints? A Reconsideration of Concepts and Evidence," Journal of Comparative Economics, Elsevier, vol. 26(1), pages 80-103, March.
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    Cited by:

    1. Marcos Esaú Domínguez Viera, 2009. "Aplicación de un modelo de multiplicadores contables y de análisis estructural a políticas sociales seleccionadas en el estado de Nuevo León," Ensayos Revista de Economia, Universidad Autonoma de Nuevo Leon, Facultad de Economia, vol. 0(2), pages 95-137, November.
    2. James B. Davies, 2004. "Microsimulation, CGE and Macro Modelling for Transition and Developing Economies," WIDER Working Paper Series DP2004-08, World Institute for Development Economic Research (UNU-WIDER).
    3. James B Davies, 2009. "Combining microsimulation with CGE and macro modelling for distributional analysis in developing and transition countries," International Journal of Microsimulation, International Microsimulation Association, vol. 2(1), pages 49-56.
    4. Marc Mueller & Ignacio Perez Dominguez & Stephan Gay, 2009. "Construction of Social Accounting Matrices for the EU-27 with a Disaggregated Agricultural Sector (AgroSAM)," JRC Research Reports JRC53558, Joint Research Centre.
    5. Schubert, Stefanie & Schnabel, Reinhold, 2009. "Curing Germany's health care system by mandatory health premia?," Journal of Health Economics, Elsevier, vol. 28(5), pages 911-923, September.

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    More about this item

    Keywords

    SNA; SAM; investment-saving balance; financial sector.;
    All these keywords.

    JEL classification:

    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • C69 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Other

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