On the Growth Mechanism of Russian Economy
György Simon Jr.
Corvinus University of Budapest
October 31, 2013
The author investigates the main regularities of economic growth and technical progress in Russia using the analytical tools of neoclassical and endogenous growth theories. The empirical results confirmed his hypothesis concerning the declining general efficiency of the Russian economy which determined Russia’s failure in its economic competition with the United States. Of the external factors, the research has quantified the dependence of Russia’s economic growth on the world market volatility of the Urals oil price. At the same time, a so-called globalization effect has been shown, related to inflows of foreign direct investment, which has a positive growth impact not only at a macro level, but also in manufacturing.
Number of Pages in PDF File: 50
Keywords: economic growth, technical progress, globalization, production functions, Russia
JEL Classification: E10, E13, F21, O40working papers series
Date posted: April 19, 2012 ; Last revised: December 2, 2013
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