Fear of the Future: Russia in the Global Economy in the Next Few Years

Fear of the Future: Russia in the Global Economy in the Next Few Years

The Russian economy, though so far in better shape than Europe, is facing the possibility of very slow growth in the near future. Its tendency to volatility was demonstrated in 2008-09, when Russian GDP fell more than that of any other large country. Looking at that experience and at current concern...

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Bibliographic Details
Published in:The International spectator Vol. 48; no. 3; pp. 34 - 49
Main Author: Hanson, Philip
Format: Journal Article
Language:English
Published: Routledge 01-01-2013
Subjects:
Business
Demand
demography
Economic growth
Europe
Fear
Gross Domestic Product
Labour force
oil
Oil price
Petroleum
Prices
Property Rights
Right of property
rule of law
Russia
Russian Federation
Supply
Uncertainty
World Economy
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Summary:The Russian economy, though so far in better shape than Europe, is facing the possibility of very slow growth in the near future. Its tendency to volatility was demonstrated in 2008-09, when Russian GDP fell more than that of any other large country. Looking at that experience and at current concerns, it seems that Russia has both demand-side (slow world growth, uncertain future oil prices) and supply-side (falling labour force) problems. The continuing failure to provide secure property rights for business probably compounds these difficulties.
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ISSN:0393-2729
1751-9721
DOI:10.1080/03932729.2013.805022