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A View on Russian Economy Mid-term Perspectives

Sergey Drobyshevsky

Published Papers from Gaidar Institute for Economic Policy

Abstract: We use to consider Russia as a commodity state whose welfare was mainly based on extraction and export of hydrocarbons. Well, Russia has one of the biggest oil and natural gas endowments, virtually dominates at the European crude oil and natural gas markets and actively builds up export of oil and gas to China South East Asia. Export of oil and gas accounts for 2/3 of exports, and taxes from those industries provide more than 50% of federal budget revenues. But, the world is changing, traditional assumptions are no longer valid, and the oil and gas sector is not a key driver of Russian economic growth anymore.

Keywords: Russian; economy (search for similar items in EconPapers)
JEL-codes: A1 P10 (search for similar items in EconPapers)
Pages: 5 pages
Date: 2013, Revised 2013
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Downloads: (external link) Revised version, 2013 (application/pdf)

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