Russian Federation: Selected Issues
IMF Staff Country Reports, August 3, 2012
Source details
- Canonical URL
- Russian Federation: Selected Issues
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Bibliographic details
- Published: August 3, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475505047.002
Summary
- The Selected Issues paper on the Russian Federation discusses the economic growth and future growth potential of the country.
- After almost a decade of impressive growth performance, Russia suffered a sharp contraction in 2009 with GDP falling by 8 percent.
- The paper provides:
- an overview of the conceptual issues regarding potential growth;
- the analytical framework based on an exogenous growth model;
- growth accounting results for Russia in the past decade;
- discussion of the importance of structural reforms to achieve sustained high growth.
Key findings and observations
- Historical performance:
- Nearly a decade of impressive growth prior to 2009.
- Sharp contraction in 2009: GDP fell by 8 percent.
- Analytical emphasis:
- Focus on potential growth measurement and drivers.
- Growth accounting for Russia over the past decade to identify contributions to growth.
- Policy implications:
- Structural reforms are important to achieve sustained high growth.
Analytical framework
- The paper is based on an exogenous growth model.
- Uses growth accounting techniques to decompose growth in the past decade.
- Conceptual issues regarding potential growth are reviewed to inform policy choices.
Policy recommendations (as summarized in the paper)
- Emphasize structural reforms to restore and sustain high potential growth.
- Use insights from growth accounting and potential-growth analysis to prioritize reforms.
Content in this bundle
- Russian Federation: Selected Issues; IMF Country Report No. 12/218; July 11, 2012
- _cr12218r