Is Mining Fuelling Long-run Growth in Russia? Industry Productivity Growth Trends since 1995
Strong growth, intensive structural change and expanding informality have characterized many developing and emerging economies in recent decades. Yet most empirical investigations into the relationship between structural change and productivity growth overlook informality. This paper includes the informal sector in an analysis of the effects of structural changes in the Russian economy on aggregate labour productivity growth. Using a newly developed dataset for 34 industries covering the period 1995–2012 and applying three alternative approaches, aggregate labour productivity growth is decomposed into intra-industry and inter-industry contributions. All three approaches show that the overall contribution of structural change is growth-enhancing, significant and decreasing over time. Labour reallocation from the formal sector to the informal sector tends to reduce growth through the extension of informal activities with low productivity levels. Sectoral labour reallocation effects are found to be highly sensitive to the methods applied.
This paper puts forth a comprehensive set of measures to address the current economic crisis, prevent its further aggravation and ensure sustained and ongoing development of the Russian economy. In this study we seek to adopt the viewpoint of common sense and keep free from political and ideological bias. This is why we believe the proposed solutions should be implemented by any reasonable government irrespective of its political coloration. This text presents our vision of the Russian economy and its problems.
The Russian economy has been booming over the past decade and flexed its muscles in the international political and economic arena. But how strong is the Russian economy really? Is it mainly based on the revenues of gas and oil exports? Or is it the result of major changes in the structure and productivity in the economy since the breakdown of the communist system? To what extent will these changes be mainly transitory, reflecting the shift from a planned economy towards a free market environment, or permanent? In this article we compare the pattern of economic growth in Russia in the past decades with that of other economic regions in the world economy and argue that some features of sustainable growth have appeared in the last decade. The current crisis will be a major test of the resilience of the Russian economy.
The goal of this study is to examine the performance of the Russian economy during the 2000’s. The authors study sources of economic growth during the period applying growth accounting framework and discussing standard assumptions and statistical problems. The relatively intensive growth of the Russian economy was accompanied by a very slow decline of inflation rates. The Chapter discusses the specific features of the recent consumer price rise and considers several manifestations of inflation persistence during the last decade.
The book is dedicated to the general trends in Russian business.
The article considers the processes of progress in production and service sectors and answers the question how and thanks to what service sector of Russian economy left the productive one behind (concerning contribution in GDP of our country). The rates of development of service sector turned out to be so high firstly - as a reason of peculiarities of new Russian economy, which historically was built on the market principles and was developing in conditions of investment resources deficit, secondly - as a reason of system differences between «physical» goods and services as an object of sale. Nowadays Russia faces an unusual symbiosis: effective service companies, operating in hard competitive sphere with average profitability and non-affective from the point of management industrial companies, which thanks to monopolistic pricing have great profitability, providing profits of Russian budget and determining a macroeconomic situation.
This chapter is an output of a research project implemented as part of the Basic Research
Program at the National Research University Higher School of Economics (HSE).
2 . With the exception of medical facilities belonging to privatized enterprises.
3 . Fundholding of a primary care unit is a scheme of public health care funding that provides a virtual budget to a primary care unit (general practitioner, outpatient clinic, etc.) for purchasing selected clinical and diagnosis services, such as minor surgery, physiotherapy, and common endoscopic procedures (Langenbrunner et al. 2005). Th is scheme creates incentives for increasing effi ciency of primary care and for containing excessive supply of diagnostic and inpatient services. Fundholding is used in the United Kingdom and Estonia, as well as in some Russian regions (Kaliningrad, Samara, and Perm).
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.