Cover IMF Working Papers
Russia's Output Collapse and Recovery: Evidence from the Post-Soviet Transition
Author: Eteri Kvintradze
Series:
IMF Working Papers
Volume/Issue:
Volume 2010: Issue 089
Language:
English
Publication Date:
01 Apr 2010
DOI:
https://0-doi-org.library.svsu.edu/10.5089/9781451982596.001
ISBN:
9781451982596
ISSN:
1018-5941
Pages:
28
Keywords:
WP; economy; enterprise; price; Russia; Russia and Growth Transition; enterprise growth; economic system; enterprise balance sheets; production factor; privatized enterprise; economy concept; Industrial sector; Productivity; Production growth; Energy pricing; Total factor productivity; Eastern Europe
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
Download PDF (1.1 MB) Download Epub
The health of the Russian economy still depends heavily on natural resource revenues. The history of the economic collapse and recovery in 1970–2004 provides new evidence on the sources of Russian economic growth, while a survey of the economic literature suggests that the Russian economy could be viewed as a weighted combination of virtual and normal forces. If the Russian economy is considered to be dominated by normal market economy forces, higher energy export receipts provide an opportunity for structural reforms while compensating for social costs, making the economy less vulnerable to decline in world energy prices. However, the domination of virtual forces—value transfers from the energy sector to strategic enterprises—suggests that high world energy prices are masking an inefficient manufacturing sector, and that the Russian economy is highly vulnerable to energy price declines.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund