A theoretical interpretation of the oil prices impact on economic growth in contemporary Russia
作者: Idrisov, GeorgyKazakova, MariaPolbin, Andrey
刊名: Russian Journal of Economics, 2015, Vol.1 , pp.257-272
来源数据库: Redaktsiya zhurnala Voprosy Ekonomiki
DOI: 10.1016/j.ruje.2015.12.004
关键词: Oil pricesEconomic growthSmall open economy
原始语种摘要: 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.
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  • prices 行情
  • economic 经济的
  • growth 生长
  • economy 经济
  • equilibrium 平衡
  • short 短的
  • impact 冲击碰撞
  • terms 术语
  • Russia 俄罗斯牌手表
  • interpretation 判读