Marginal Efficiency of Fixed Capital, its Economic and Technological Factors, and Dynamics of Russian Economy

Mitsek S (2010). Marginal Efficiency of Fixed Capital, its Economic and Technological Factors, and Dynamics of Russian Economy. IIASA Interim Report. IIASA, Laxenburg, Austria: IR-10-007

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Abstract

Net profit is a main source of investment in fixed assets in Russia. In the paper, we estimate econometric equation of investment from net profit on different regressors. The estimation is fulfilled basing on quarterly macroeconomic data for 1995-2007. It is shown that signifcant factors are the volume of net profit and the marginal efficiency of fixed capital, and the latter is the strongest one.

We use also the panel data for Russian regions for 2004-2006 and estimate an econometric equation of average efficiency of fixed assets with respect to different factors. The significant factors are three technological variables (scientific expenditures, number of patents and number of personal computers) and a share of export in gross regional product.

Finally, we estimate an econometric equation of personal income in Russian regions on different factos and find out that the strongest factor is the capital intensity of labor and two efficiency variables (labor productivity and capital efficiency).

Item Type: Monograph (IIASA Interim Report)
Research Programs: Dynamic Systems (DYN)
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 08:45
Last Modified: 05 Nov 2016 01:19
URI: http://pure.iiasa.ac.at/9474

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