Is Russia Still Driving Regional Economic Growth?

42 Pages Posted: 3 Mar 2006

See all articles by Clinton R. Shiells

Clinton R. Shiells

International Monetary Fund (IMF)

Marco Pani

International Monetary Fund (IMF) - Middle East and Central Asia Department

Etibar Jafarov

International Monetary Fund - European Department

Date Written: September 2005

Abstract

This paper investigates whether the linkages between economic growth in Russia and growth in other countries in the region have weakened over time, particularly following the 1998 Russian crisis. It specifies an econometric model that includes standard growth determinants as well as Russian economic growth, and which allows for the effects of Russian growth to vary over time. The paper finds that Russian growth was indeed a significant determinant of regional economic growth prior to the Russian crisis, but that this link weakened significantly thereafter.

Keywords: Economic growth, Russia, CIS, Baltics

JEL Classification: F15, F43, O40

Suggested Citation

Shiells, Clinton R. and Pani, Marco and Jafarov, Etibar, Is Russia Still Driving Regional Economic Growth? (September 2005). IMF Working Paper No. 05/192, Available at SSRN: https://ssrn.com/abstract=888061

Clinton R. Shiells (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Marco Pani

International Monetary Fund (IMF) - Middle East and Central Asia Department ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Etibar Jafarov

International Monetary Fund - European Department ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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