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Economic Change and Restructuring

, Volume 40, Issue 1–2, pp 65–89 | Cite as

Competitiveness and adjustment of the Russian economy: macro and by sectors dimensions

  • Eric Brunat
  • Xavier Richet
Article
  • 124 Downloads

Introduction

After twelve years of transformation, recent robust economic growth is helping to transform Russia, opening the perspectives for a sustainable economic and human development. However, to succeed it needs to simultaneously deepen economic and institutional reforms while diversifying its profile, and provide a human and knowledge-based dimension to addressing the challenges facing the country. The components of the competitiveness of the Russian economy show that competitiveness started to decline after 1999, following the 1998 crisis and the strong devaluation of the Rouble. The decline in competitiveness has been largely due to appreciation of the Rouble and increasing labor costs. Nevertheless, the rate of real Rouble appreciation is currently not the major factor affecting changes in the competitiveness of Russian goods. The key issues are whether factors of production and management are used efficiently, how decent is the quality of the production of goods and services...

Keywords

Foreign Direct Investment Gross Domestic Product World Trade Organization Real Exchange Rate Industrial Policy 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media, LLC 2007

Authors and Affiliations

  1. 1.University of Savoie, Centre IREGEChambéryFrance
  2. 2.Jean Monnet Chair, Université Paris III, Sorbonne NouvelleParisFrance

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