Russia from Bust to Boom and Back: Oil Price, Dutch Disease and Stabilisation Fund

Bruno Merlevede, Koen Schoors and Bas van Aarle

Comparative Economic Studies, 2009, vol. 51, issue 2, 213-241

Abstract: This paper develops and estimates a small macroeconomic model of the Russian economy. The model is tailored to analyse the impact of the oil price, the exchange rate, private sector confidence and fiscal policy on economic performance. Simulations suggest that the Russian economy is vulnerable to downward oil price shocks. We substantiate two mechanisms that mitigate the economic effects of oil price shocks, namely the stabilisation brought by the Oil Stabilisation Fund and the Dutch disease effect. The fiscal policies of the Putin administration temper economic fluctuations caused by oil price shocks. Comparative Economic Studies (2009) 51, 213–241. doi:10.1057/ces.2009.2

Date: 2009
References: Add references at CitEc
Citations: View citations in EconPapers (18)

Downloads: (external link)
http://www.palgrave-journals.com/ces/journal/v51/n2/pdf/ces20092a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/ces/journal/v51/n2/full/ces20092a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:compes:v:51:y:2009:i:2:p:213-241

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/41294/PS2

Access Statistics for this article

Comparative Economic Studies is currently edited by Nauro Campos

More articles in Comparative Economic Studies from Palgrave Macmillan, Association for Comparative Economic Studies Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().