Is Russia Still Driving Regional Economic Growth?

Marco Pani, Etibar Jafarov and Clinton Shiells

No 2005/192, IMF Working Papers from International Monetary Fund

Abstract: This paper investigates whether the linkages between economic growth in Russia and growth in other countries in the region have weakened over time, particularly following the 1998 Russian crisis. It specifies an econometric model that includes standard growth determinants as well as Russian economic growth, and which allows for the effects of Russian growth to vary over time. The paper finds that Russian growth was indeed a significant determinant of regional economic growth prior to the Russian crisis, but that this link weakened significantly thereafter.

Keywords: WP; CIS country; Economic growth; Russia; CIS; Baltics; coefficient estimate; government expenditure; vis-à-vis Russia; country dummy; growth regression; Russia still; Consumer price indexes; Inflation; Exports; Real exchange rates (search for similar items in EconPapers)
Pages: 42
Date: 2005-10-01
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Citations: View citations in EconPapers (9)

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