Russian Federation: Selected Issues

Publication Date: July 01, 2014
Electronic Access: Free Full text (PDF file size is 764KB).
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Summary: This Selected Issues paper estimates potential output and the output gap in Russia. Estimating potential output in Russia is difficult because its economy is large and complex, in transition, and dependent on oil. First, Russia presents large territorial and sectoral heterogeneity. Second, structural issues are difficult to estimate in transition economies. Third, the energy sector dominates exports and GDP, making Russia vulnerable to large terms of trade shocks. This paper estimates potential output taking into account these challenges and using a variety of methodologies. The results obtained show that the output gap in Russia exhibits high uncertainty.
Series: Country Report No. 14/176
Subject(s): Economic growth | Gross domestic product | Economic reforms | Capacity utilization | Economic indicators | Labor market characteristics | Production functions | Production growth | Market economies | Selected Issues Papers | Russian Federation

Notes Full text also available in Russian
Publication Date: July 01, 2014
ISBN/ISSN: 9781498336765/1934-7685 Format: Paper
Stock No: 1RUSEA2014003 Pages: 19
US$18.00 (Academic Rate:
US$18.00 )
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