Decline of Growth Rates of the Russian Economy: Temporary or Long-term Tendency?

Mitsek, S. (2003). Decline of Growth Rates of the Russian Economy: Temporary or Long-term Tendency? IIASA Interim Report. IIASA, Laxenburg, Austria: IR-03-032

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Abstract

In 2002 Russian economy demonstrates the decline of GDP, investment and industry growth rates. But simultaneously we see features of stabilization too: inflation diminishes, reserves of foreign currencies grow, ruble is stable, etc.

What does all that mean? The miracle of 2000-2001 recovery is finished? We analyze the factors that lie behind these trends, both short- and long-term. What should the Russian government and society do to accelerate the rates of growth? What economic advantages of Russian economy can attract the worldwide community and business? The author of the paper tries to answer on these and related questions.

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