The Russian Economy in the Subjunctive Mood

E. F. Vinokurov ()

Economics of Contemporary Russia, issue 3

Abstract: The author attempts to identify the main trends of economic development in Russia in 2000-2014, to eliminate the impact of 2008-2009 crisis. The main conclusion of the analysis is: the strikingly low efficiency of capital investments in the Russian economy took place during the period. This has resulted in a slowdown in labor productivity growth and return on assets as well as an extremely high degree of correlation between the gross domestic product (GDP) and the number of employed in the economy. The change in the structure of investments designed as to deliver the corresponding changes in the structure of production should be acknowledged as the main condition of economic growth in Russia.

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