How fast can Russia grow?

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Title: How fast can Russia grow?
Author: Korhonen, Iikka
Organization: Suomen Pankki
Bank of Finland
Department / Unit: Siirtymätalouksien tutkimuslaitos (BOFIT)
Institute for Economies in Transition (BOFIT)
Series: BOFIT Policy Brief
ISSN: 2342-205X
Series year: 2015
Series number: 10/2015
Year of publication: 2015
Publication date: 16.12.2015
Pages: 13
Subject (yso): talouskasvu; bruttokansantuote; väestöennusteet; työvoima; tuottavuus
Keywords: Bofit-kokoelma; Venäjä
Other keywords: Russia; demographics; total factor productivity; capital stock
Abstract: ​In this note I gauge Russia’s future growth potential under various assumptions in a standard growth-accounting framework. Russia’s GDP growth during the next two decades will be substantially lower than during the previous 15 years, mostly because of rapid decline in labor force. In addition, much of the potential for rapid productivity growth has already been exhausted. Russia’s GDP growth will be below two per cent per annum.

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