Non-commodity exports have slumped, and their fall can no longer be offset by oil and gas. Demand for Russia’s goods is decreasing as its trade partners’ growth slows.
The global economic slowdown is becoming a key threat to financial markets. The measures taken by central banks may prove insufficient to prevent a negative outcome.
Dialogue Chain. Episode 6. Apurva Sanghi, lead economist for Russia of the World Bank Group, talks about ways to double the potential growth rate. Questions by Evsey Gurvich, head of Economic Expert Group, a leading Russian think-tank.
The large-scale National Priority Project in housing has the potential to cause an accelerated increase in real estate prices, household debt, and banks’ credit risks. Moreover, explosive market growth could give way to a slump when the Project comes to an end.
Dialogue Chain. Episode 5. Marek Dabrowski, Professor of the Higher School of Economics, non-resident Scholar at Bruegel, interviews Evsey Gurvich, Head of the Economic Expert Group
Inflation targeting might support economic growth by lowering inflation and volatility. However, monetary policy alone cannot drive growth.
Dialogue Chain. Episode 4. Aleksander Auzan, Professor, Dean, Faculty of Economics, Lomonosov Moscow State University interviews Marek Dabrowski, Professor of the Higher School of Economics, non-resident Scholar at Bruegel
Real-world experience confirms that forward guidance makes central bank policy even more predictable.
Russia’s potential economic growth rate is estimated at 0.7-1.3%, depending on the calculation method. Total factor productivity (i.e. knowledge, technologies, innovations) contribution has been used up.
Dialogue Chain. Episode 2. Branko Milanovic, one of the world's leading experts in income inequality, interviews Natalya Zubarevich, MSU professor and prominent expert on the economy of Russian regions.
Dialogue Chain. Episode 1. Shlomo Weber, NES President, interviews Branko Milanovic, one of the world leading experts in income inequality.