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Explaining Russia's Output Collapse: Aggregate Sources and Regional Evidence
Author:
Ms. Irina Dolinskaya
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Ms. Irina Tytell
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Series:
IMF Working Papers
Volume/Issue:
Volume 2001: Issue 016
Language:
English
Publication Date:
01 Feb 2001
DOI:
https://doi.org/10.5089/9781451843408.001
ISBN:
9781451843408
ISSN:
1018-5941
Pages:
33
Keywords:
WP; capital stock; private sector; production function; Growth; productivity; transition; productivity drop; capital input; factor shares assumption; productivity effect; labor growth; capital share; Total factor productivity; Labor share; Growth accounting; Eastern Europe
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper explores sources of the output collapse in Russia during transition. A modified growth accounting framework is developed that takes into account changes in factor utilization typical of the transition process. The results indicate that declines in factor inputs and productivity were both important determinants of the output fall. The contribution of the productivity drop was critical, but smaller than previously reported. Possible causes of the reduction in productivity are assessed using data on sub-national regions within Russia. Privatization and entry of private firms are found to have generated productivity gains, while lack of exit of unviable enterprises constituted a drag on efficiency.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund