| Abstract: |
Russia is an important part of the world economy both now and in the past.
Indeed, one would expect an abundance of studies on Russian economic
development. In the past, growth and performance in planned economies
vis-à-vis the Western world did attract much attention. These types of studies
contributed to two revolutions of development thinking, which are the ?big
push? approach based on success of Soviet industrialization in 1930-s and the
unexpected collapse of the Soviet Union in 1991. However, recent performance
of the Russian economy is less considered while much could be learned from
studying the post-Soviet economic development. The key obstacle to the
research in case of Russia is data availability. Detailed industrial data of
labour, capital and output from early 1990-s onwards is not available both in
the official statistics and in the literature. The present paper addresses
this gap, providing detailed description of the newly developed dataset, which
covers 34 industries in NACE 1.0 classification in 1995-2009. The paper also
reports results of output growth rates decomposition into contributions of
labour, capital and productivity (industrial growth accounting). Using more
detailed data and better theoretical foundation it shows that the contribution
of capital to economic growth in Russia is much more substantial that it has
previously been reported in the literature until recently. |