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A View on Russian Economy Mid-term Perspectives

Author

Listed:
  • Sergey Drobyshevsky

    (Gaidar Institute for Economic Policy)

Abstract

We use to consider Russia as a commodity state whose welfare was mainly based on extraction and export of hydrocarbons. Well, Russia has one of the biggest oil and natural gas endowments, virtually dominates at the European crude oil and natural gas markets and actively builds up export of oil and gas to China South East Asia. Export of oil and gas accounts for 2/3 of exports, and taxes from those industries provide more than 50% of federal budget revenues. But, the world is changing, traditional assumptions are no longer valid, and the oil and gas sector is not a key driver of Russian economic growth anymore.

Suggested Citation

  • Sergey Drobyshevsky, 2013. "A View on Russian Economy Mid-term Perspectives," Published Papers 175, Gaidar Institute for Economic Policy, revised 2013.
    • Handle: RePEc:gai:ppaper:175
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    File URL: https://www.iep.ru/files/RePEc/gai/ppaper/175Drobyshevsky.pdf
    File Function: Revised version, 2013
    Download Restriction: no
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    More about this item

    Keywords

    Russian economy;

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General

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