Public finance in the closed cities of Russia
In: The nonproliferation review: program for nonproliferation studies, Band 11, Heft 1, S. 73-105
ISSN: 1746-1766
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In: The nonproliferation review: program for nonproliferation studies, Band 11, Heft 1, S. 73-105
ISSN: 1746-1766
In: Democratization, Band 11, Heft 5, S. 113-132
ISSN: 1743-890X
This paper shows how the Dutch Disease has affected the Russian economy since the start of the transition in the early 1990s. Four symptoms have been detected, namely: 1) a real exchange rate appreciation, 2) a temporary improved economic situation, 3) an output decline in the non-booming-sector, 4) an export reduction in the non-booming-sector. An extended version of the Balassa-Samuelson model has been implemented to test symptom 1. Our results suggest a positive long-run cointegration relationship between the real exchange rate and the oil price. A 7% real appreciation is caused by a 10% oil price shock. Moreover, a 10% increase in oil prices leads to a 2% GDP growth, while a 10% real appreciation is associated with a 2.1% output decline. The total effect on GDP growth, considering the Balassa-Samuelson effect, confirms symptom 2. Finally, the domestic industrial production drops and high-tech and textile exports are crowed out. This indicates that the Russian economy is also affected by symptoms 3 and 4. We conclude that Russia's government should invest the tax revenues collected from the resource sector such that the structure of the economy becomes more diversified and less vulnerable to exogenous shocks.
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In: The journal of communist studies, Band 20, Heft 2, S. 30-49
World Affairs Online
In: Demokratizatsiya: the journal of post-Soviet democratization = Demokratizacija, Band 12, Heft 1, S. 13-39
ISSN: 1074-6846
World Affairs Online
In: Demokratizatsiya: the journal of post-Soviet democratization = Demokratizacija, Band 12, Heft 2, S. 165-168
ISSN: 1074-6846
World Affairs Online
In: Mirovaja ėkonomika i meždunarodnye otnošenija: MĖMO, Heft 5, S. 49-55
In: Mirovaja ėkonomika i meždunarodnye otnošenija: MĖMO, Heft 1, S. 89-97
In: Mirovaja ėkonomika i meždunarodnye otnošenija: MĖMO, Heft 8, S. 26-35
In: The journal of communist studies and transition politics, Band 20, Heft 2, S. 30-49
ISSN: 1352-3279
In: The world today, Band 60, Heft 11, S. 17-18
ISSN: 0043-9134
In: Democratization, Band 11, Heft 5, S. 113-132
ISSN: 1351-0347
In: The world today, Band 60, Heft 10, S. 8-9
ISSN: 0043-9134
In: Mirovaja ėkonomika i meždunarodnye otnošenija: MĖMO, Heft 3, S. 74-80
In: Russia - continuity and change, S. 151-162