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Sergey Drobyshevsky and Maria Kazakova ()

Russian Economic Developments, 2014, issue 11, 63-66

Abstract: The Gaidar Institute developed a comprehensive methodology for decomposing the growth rate of Russia’s GDP into its structural, foreign trade and situational components, which is based on the same decompositin algorithm as applied in the analysis of macroeconomic indicators of the developed countries (OECD), adjusted with due regard for the specificities of the Russian economy with its high dependency on foreign trade (more specifi - cally, the movement of world prices for oil). On the basis of estimations yielded by this methodology we could identify several phases of economic growth in Russia over the period from 1999 through 2014: recovery growth (1999–2000); growth sustained by investment and capital load (2001–2003), and then growth sustained by favorable foreign trade conditions (2004–2008.); overheated economy and economic crisis (2008–2009), followed by a new, lower phase of the business cycle (2010–2014).

Keywords: GDP (search for similar items in EconPapers)
Date: 2014
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