Russia's growth potential post-COVID-19

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dc.contributor Bank of Finland Korhonen, Iikka 2021-07-01T07:49:10Z 2021-07-01T07:49:10Z 2021
dc.identifier.issn 2342-205X
dc.description.abstract This paper updates my earlier calculations on Russia’s long-run growth potential using a standard growth accounting framework in which GDP growth depends on available labor, capital and efficiency in combining them, i.e. total factor productivity. Russia’s economy has grown relatively slowly during the past decade, partly because of declining labor force. In my revised framework, growth recovers after the negative COVID-19 shock, but remains subdued as the working-age population continues to dwindle. Productivity growth remains lower than in the early 2000s, while average GDP growth settles at approximately 1.5% p.a.
dc.description.tableofcontents Abstract .....3 1. Introduction and summary of results .....4 2. Recent developments in the Russian economy .....4 3. Long-run growth .....7 4. Concluding remarks .....10 References .....11
dc.format.extent 13
dc.language.iso ENG
dc.subject Bofit-kokoelma
dc.subject COVID-19
dc.subject Venäjä
dc.title Russia's growth potential post-COVID-19
dc.type Paper
dc.identifier.urn URN:NBN:fi:bof-202107011317 BOFIT Policy Brief
dc.series.year 2021
dc.series.number 9/2021
dc.series.sortingnumber 0009 1.7.2021
dc.subject.yso talouskasvu
dc.subject.yso bruttokansantuote
dc.subject.yso tuottavuus
dc.contributor.orgunit Suomen Pankin nousevien talouksien tutkimuslaitos (BOFIT)
dc.contributor.orgunit Bank of Finland Institute for Emerging Economies (BOFIT)
bof-internal.includedInCRIS 1
dc.type.okm D4

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