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Russian economic report No.16 (June 2008), The World Bank

Author

Listed:
  • Bogetic, Zeljko
  • Ulatov, Sergey
  • Emelyanova, Olga
  • Smits, Karlis

Abstract

Russia’s short-term economic growth has accelerated above its long term trend, defying weak global conditions. In 2007, the economy grew by 8.1 percent on the heels of very high (and perhaps unsustainable) oil prices, robust domestic demand and strong macroeconomic fundamentals. Preliminary data indicate an even faster real growth in GDP and industrial production of 8.7 and 6.2 percent in the first quarter of 2008. Rising inflation and capacity and labor utilization, tightening infrastructure constraints, and real wage increases outpacing productivity gains, however, suggest that the economy is overheating, i.e., aggregate demand is outpacing long-term productive capacity of the economy. Reducing inflation and reinvigorating the remaining structural reforms will be key policy challenges for the new Russian government going forward.

Suggested Citation

  • Bogetic, Zeljko & Ulatov, Sergey & Emelyanova, Olga & Smits, Karlis, 2008. "Russian economic report No.16 (June 2008), The World Bank," MPRA Paper 12435, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:12435
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    File URL: https://mpra.ub.uni-muenchen.de/12435/1/MPRA_paper_12435.pdf
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    Citations

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    Cited by:

    1. repec:zbw:bofitp:2013_029 is not listed on IDEAS
    2. UNICEF Innocenti Research Centre. MONEE project, 2009. "Innocenti Social Monitor 2009. Child Well-being at a Crossroads: Evolving challenges in Central and Eastern Europe and the Commonwealth of Independent States," Papers insomo562, Innocenti Social Monitor.
    3. Andrievskaya, Irina & Semenova, Maria, 2013. "Market discipline and the Russian interbank market," BOFIT Discussion Papers 29/2013, Bank of Finland Institute for Emerging Economies (BOFIT).
    4. François Guillemin & Maria Semenova, 2020. "Transparency and market discipline: evidence from the Russian interbank market," Annals of Finance, Springer, vol. 16(2), pages 219-251, June.
    5. Andrievskaya, Irina & Semenova, Maria, 2013. "Market discipline and the Russian interbank market," BOFIT Discussion Papers 29/2013, Bank of Finland, Institute for Economies in Transition.

    More about this item

    Keywords

    Russia; Russian economy; Russia economic developments; Russian health;
    All these keywords.

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • F3 - International Economics - - International Finance
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • I1 - Health, Education, and Welfare - - Health
    • H6 - Public Economics - - National Budget, Deficit, and Debt

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