Home  Journals  Regional Economics: Theory and Practice  7(430) - 2016 July

Structural factors of the Russian economy growth: Regional, sectoral, and macroeconomic aspects

Vol. 14, Iss. 7, JULY 2016

Article PDF Version

Received: 16 December 2015

Received in revised form: 11 January 2016

Accepted: 25 January 2016

Available online: 18 July 2016

Subject Heading: REGION IN NATIONAL ECONOMY

JEL Classification: C32, E21, F14, O14, R11

Pages: 118-128

Importance The article analyzes the structural changes in the economy of the Russian Federation and their impact on the economic growth. The slowdown of the country's economy makes a study of the structural determinants of such changes at different levels: regional, sectoral and macro, topical and urgent.
Objectives The paper aims to investigate and analyze the changes in regional, sectoral, and macroeconomic structures of the Russian economy and their impact on the economic growth.
Methods Using statistical analysis tools based on econometric evaluations, we analyzed various aspects of the impact of structural changes on the growth of the national economy.
Results We show that changes in the sectoral and regional structures of costs of production factors and the weak dynamics of total factor productivity has had an impact on slowing the economic growth. We determined that the macroeconomic and structural factors have become ones of the main reasons for the significant increase in the share of wages and household consumption in gross domestic product, as well as the decline in the share of net exports, which had a noticeable impact on the country's economic growth.
Relevance The analysis of structural changes can explain the economic processes taking place in the Russian Federation, as well as help determine the pace of the country's economic growth.

Keywords: sectoral structure, regional structure, economic growth, total factor productivity, resources

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