Decomposition of the russian GDP growth rate in 1999-2014

Декомпозиция темпов роста ВВП России в 1999—2014 годах

Sergey Sinelnikov-Murylev, Drobyshevskiy, Sergei (Дробышевский, Сергей) () and Maria Kazakova
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Drobyshevskiy, Sergei (Дробышевский, Сергей): Russian Presidential Academy of National Economy and Public Administration (RANEPA), Gaidar Institute for Economic Policy

Ekonomicheskaya Politika / Economic Policy, 2014, vol. 5, 7-37

Abstract: The paper proposes a method of decomposition of the growth of Russia's GDP in the structural, foreign trade and the market component. The method is based on the algorithm of decomposition of macroeconomic indicators of developed countries, the revised specific to the Russian economy, which is characterized by a high dependence on foreign trade conditions (the dynamics of world oil prices). As a result of the calculations the authors identify several phases of economic growth in Russia in the period from 1999 to 2014: recovery growth (1999-2000); growth through increased investment and capital utilization (2001-2003), and also due to favorable terms of trade (2004-2008); overheating and economic crisis (2008-2009) and the subsequent new, lower phase of the business cycle (2010-2014).

Keywords: economic growth; total factor productivity; the gap in the production of oil prices; the terms of trade; environment (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (11)

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