Download full text
(external source)
Citation Suggestion
Please use the following Persistent Identifier (PID) to cite this document:
https://doi.org/10.1016/j.ruje.2015.12.004
Exports for your reference manager
A theoretical interpretation of the oil prices impact on economic growth in contemporary Russia
[journal article]
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... view more
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.... view less
Keywords
economic growth; crude oil; price; Russia
Classification
Political Economy
Free Keywords
small open economy
Document language
English
Publication Year
2015
Page/Pages
p. 257-272
Journal
Russian Journal of Economics, 1 (2015) 3
ISSN
2618-7213
Status
Published Version; reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0