The Great Russian Depression of the 1990s: Observations on Causes and Implications

A senior Japanese economist briefly examines the causes of Russia's great economic depression of the 1990s, highlighting the important role of the ruble exchange rate. The author argues that “liberalization” of exchange markets contributed substantially to the depression, because of the “dual” nature of the Russian economy (strong energy sector and weak manufacturing sector). Journal of Economic Literature, Classification Numbers: E50, E58, F31. 7 tables, 22 references.     

Changes in the Structure and Distribution of Russian GDP in the 1990s

The author, a noted Japanese observer of Soviet and post-Soviet economic affairs, examines System of National Accounts data for the Russian Federation in order to analyze changes in the structure and distribution of Russian GDP during the six-year period commencing in 1989. The study, based in part on first-hand investigation in Moscow in late 1995 and on hitherto unpublished raw data, represents an initial attempt to examine the methodology underlying the compilation of Russian System of National Accounts statistics, which the Russian Government began to publish only recently. A distinct focus is on GDP by sector of origin and by end use, and on distribution of income. 9 tables, 22 references. Journal of Economic Literature, Classification Numbers: O11, O47, P24.     

The Anatomy of Russian Foreign Trade Statistics

The study, by a noted Japanese economist and observer of Soviet and post-Soviet economic affairs, represents a pioneering effort to evaluate the statistical data base reflecting Russian foreign trade. The author examines in minute detail the inconsistencies and deficiencies of data compiled from 1985 to mid-1994, focusing on classification and highlighting the changing and conflicting methods of compilation. Tracing and tabulating data valued in dollars and foreign trade rubles, he also covers and analyzes Russian statistics detailing trade in commodities. Also discussed is the geographic distribution of Russian exports and imports to foreign countries in the late 1980s and 1990s. 1 figure, 10 tables, 37 references.     

Factors underlying inflation in Russia 2000–2015

Abstract

This paper examines the problem of continuing inflation in Russia in the period from 2000 to 2015. Although factors causing high inflation changed during this period, such factors as money supply, wages, gas and electricity prices, and ruble exchange rate have been essential factors when analyzing inflation in Russia. This paper focuses on gas and electricity prices that represent state-regulated prices in natural monopoly sectors and that have been factors of price increases specific to Russia. They have been raised by the state in order to narrow the gap between their domestic and international prices. It is suggested that there was a turnaround in 2008 when the role of each inflation factor changed significantly. Concerning the rebound of inflation rate since 2014, the overwhelming influence of depreciation of the ruble is indicated. Institutional factors such as the monopolistic structure of the economy that have kept the inflation rate high in Russia are also suggested.