The Economy of Russia in Graphics

Sergey A. Mitsek, Elena B. Mitsek
Year: 2020
DOI:
UDK: 330.101.541:330.34(470)
Pages: 6-53
Language: russian
Section: Economics
Keywords: Russian economy, economic growth, liquidity, total factor productivity, investment in fixed capital
Abstract
The article is devoted to a graphic illustration of the dynamics of the main macroeconomic variables of the Russian economy. They cover production, prices, investment, money, banking, fiscal and foreign economic sectors. The graphs are built based on such data sources as the Federal State Statistics Service, the Bank of Russia and some others and for the clarity of presentation, they are smoothed by the Hodrick - Prescott filter. The elasticities of the dependent variables obtained on the basis of the equations of the author's econometric model make it possible to identify the main factors influencing the dynamics of the variables included in the analysis. The authors conclude that the main reasons for the slowdown in the Russian economy after 2013 were a lack of investment in fixed assets, stagnation in the total factor productivity, unfavourable foreign economic trends and an increase in the tax burden.
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