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https://doi.org/10.1016/j.ruje.2015.12.004
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A theoretical interpretation of the oil prices impact on economic growth in contemporary Russia
[Zeitschriftenartikel]
Abstract This article analyzes the impact of global oil prices on Russia's economic growth and its growth rate in terms of output. It also reviews the mechanics of the long-term and short-term impacts on output resulting from changes in oil prices. The authors argue that the effect of oil prices on output ha... mehr
This article analyzes the impact of global oil prices on Russia's economic growth and its growth rate in terms of output. It also reviews the mechanics of the long-term and short-term impacts on output resulting from changes in oil prices. The authors argue that the effect of oil prices on output has decreased dramatically under current economic conditions ever since the period of recovery growth in the early 2000s. The main conclusion of the paper is that, on the basis of classical models, a constant increase in oil prices cannot influence the long-term economic growth rate and only predetermines short-term transitional trends from one long-term equilibrium to another.... weniger
Thesaurusschlagwörter
Wirtschaftswachstum; Erdöl; Preis; Russland
Klassifikation
Volkswirtschaftslehre
Freie Schlagwörter
small open economy
Sprache Dokument
Englisch
Publikationsjahr
2015
Seitenangabe
S. 257-272
Zeitschriftentitel
Russian Journal of Economics, 1 (2015) 3
ISSN
2618-7213
Status
Veröffentlichungsversion; begutachtet
Lizenz
Creative Commons - Namensnennung, Nicht kommerz., Keine Bearbeitung 4.0