Resource Rents and the Russian Economy

Eurasian Geography and Economics, Vol. 46, No. 8, pp. 559-583, December 2005

Posted: 27 Apr 2006

See all articles by Clifford Gaddy

Clifford Gaddy

The Brookings Institution

Barry W. Ickes

Pennsylvania State University, College of the Liberal Arts - Department of Economic

Abstract

This paper explores the role of energy resources in Russia. We offer a more inclusive definition of oil and gas rents than is traditionally given and analyze how the mechanisms for distributing those rents have changed over time. We show how fluctuations in the level of rents have played a key role in Russian economic performance. Oil rents, in particular, are shown to have varied widely over the past 35 years. We examine the role of the property rights regime and its effect on depletion rates. The paper examines how the distribution of rents affects the sustainability of production. We conclude with some reflections on the proper organization of the energy sector.

Keywords: resource rent, resource economy, transparency, Russian oil and gas, transition, property rights

JEL Classification: E60, O13, O17, Q43

Suggested Citation

Gaddy, Clifford G. and Ickes, Barry W., Resource Rents and the Russian Economy. Eurasian Geography and Economics, Vol. 46, No. 8, pp. 559-583, December 2005, Available at SSRN: https://ssrn.com/abstract=898634

Clifford G. Gaddy

The Brookings Institution ( email )

1775 Massachusetts Ave. NW
Foreign Policy Studies
Washington, DC 20036-2188
United States
202-797-6000 (Phone)
202-797-6004 (Fax)

Barry W. Ickes (Contact Author)

Pennsylvania State University, College of the Liberal Arts - Department of Economic ( email )

524 Kern Graduate Building
University Park, PA 16802-3306
United States
814-863 2652 (Phone)
814-863-4775 (Fax)

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