The Russian Industry in 2015-2016: Was There Any Crisis?

Monitoring of Russia's Economic Outlook. Moscow. 2017, No. 6, pp. 13-17

5 Pages Posted: 21 Apr 2017

See all articles by Sergey Tsukhlo

Sergey Tsukhlo

Gaidar Institute for Economic Policy

Date Written: April 17, 2017

Abstract

The monitoring of a representative set of indicators of business surveys carried out by the Gaidar Institute permits to identify the specifics of the 2015–2016 crisis in Russian industry. Firstly, within the two crisis years the dynamics of the main indicators (demand, output and prices) were rather weak which situation was quite an unexpected one for observers and different from the previous crises. Secondly, one could get psychologically prepared to the 2015 crisis several years in advance when the thesis of “the second wave of the crisis” was introduced. The above factors formed the third specifics of 2015 – Russian enterprises went through that crisis rather smoothly. Fourthly, the only manifestations of the 2015–2016 crisis for Russian industry were a dramatic surge in the interest rate on bank loans and a collapse of investment plans.

Keywords: Russian industry, crisis, output

JEL Classification: C53, E37, L21, L52

Suggested Citation

Tsukhlo, Sergey, The Russian Industry in 2015-2016: Was There Any Crisis? (April 17, 2017). Monitoring of Russia's Economic Outlook. Moscow. 2017, No. 6, pp. 13-17, Available at SSRN: https://ssrn.com/abstract=2956451 or http://dx.doi.org/10.2139/ssrn.2956451

Sergey Tsukhlo (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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