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Russian economic report (Russian)

This report looks at structural change from several angles. In the general review of recent economic developments (part I), we use sectoral disaggregation to determine whether Russia's positive growth performance has led to greater diversification of the economy. Oil extraction, and the public sector not only continue to attract the largest share of domestic investment, but these are also the two sectors where wage increases have by far outperformed the rest of the economy. Not surprisingly, labor and capital both go "where the money is". However, the outcome of this re-allocation is that Russia's economy is even more dependent on natural resources. Part II of the report contains a brief overview of the increasing per capita income differentials across regions, which are driven mainly by domestic fixed capital investment. The published data suggest strongly that these flows are again primarily attracted by the availability of natural resources. Finally, Section III introduces the first of a series of bi-annual surveys, designed to capture the effects of the Government's recently introduced deregulation laws to encourage small firm growth.


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    Working Paper (Numbered Series)

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    Russian Federation,

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    Europe and Central Asia,

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    Russian economic report

  • Keywords

    accounting, adverse impact, aggregate income, aggregate level, Agriculture, availability, average growth, average growth rate, average level, balance of payments, barriers to entry, benchmark, benchmarks, capacity utilization, capital investment, Capital investments, Central Bank, command economy, competitiveness, consumers, credit, Crude oil, Crude oil price, demonstration effects, deregulation, devaluation, disposable income, distribution of income, diversification, domestic industries, domestic investment, domestic markets, domestic supply, econometric analysis, economic development, economic growth, economic performance, economic sectors, Economics, electricity, energy prices, exports, external conditions, Financial services, fixed capital, foreign currency, foreign direct investment, Foreign Investment, fuel, gas, gas prices, GDP, government regulations, growth performance, growth rate, growth rates, high growth, income distribution, income effect, income growth, incomes increase, increasing inequality, inflation, Investment, investment expenditures, investment flows, investment rates, Labor Market, labor markets, laws, legislation, liquidity, local governments, low share, macroeconomic environment, macroeconomic performance, mandates, natural resources, Oil, Oil prices, output growth, per capita growth, per capita income, per capita incomes, political stability, portfolio, portfolio investment, productivity, Productivity growth, profitability, public housing, public sector, public service, public service provision, public services, rate of investment, real exchange rate, real income, real incomes, Real prices, real sector, regional distribution, regulatory barriers, regulatory burden, regulatory tasks, Relative Prices, safety net, small business, structural change, sustainable growth, tax administration, total costs, Trade Balance, transition economies, Transparency, Transport, unemployment, unemployment rate, utilities, wage differentials, wages,



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Russian economic report (Russian). Russia Economic Report,no. 4 Washington, D.C. : World Bank Group.