Economic Growth Factors in 2014 - H1 2015
Russian Economic Developments, Moscow, No. 9, 2015, pp. 20-22
3 Pages Posted: 29 Sep 2015
Date Written: September 27, 2015
The results of decomposition of output growth rates for the period of 2014 – H1 2015 point to recent changes in the relative significance of different growth factors, which has been demonstrating a shift from the extensive factors towards negative inputs of the intensive factors. Over the first half-year of 2015, the growth rate of labor and capital inputs (which was sustained at the same level as in the past few years) failed to adequately compensate for the adverse situation with regard to price movement in the world’s raw materials markets, thus pushing down output. As before, the structure of extensive factors is dominated by the capital inputs backed by steady growth of fixed assets.
Keywords: Russian economy, economic growth, economic crisis
JEL Classification: Е30, E31, C81, L11
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