Research output: Contribution to journal › Article › peer-review
Harnessing hydrocarbon revenues: reflections on Russia. / van der Ploeg, Frederick; Malova, Aleksandra S.; Saltan, Andrey A.
In: ВЕСТНИК САНКТ-ПЕТЕРБУРГСКОГО УНИВЕРСИТЕТА. СЕРИЯ 5: ЭКОНОМИКА, Vol. 33, No. 3, 2017, p. 348-363.Research output: Contribution to journal › Article › peer-review
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TY - JOUR
T1 - Harnessing hydrocarbon revenues: reflections on Russia
AU - van der Ploeg, Frederick
AU - Malova, Aleksandra S.
AU - Saltan, Andrey A.
PY - 2017
Y1 - 2017
N2 - Economies, like Russia, blessed with resource abundance, do not usually perform well during the period of commodity price boom. e optimal policy of managing resource revenues prescribes to commit the permanent income rule to smooth the resource dividend in e ciency units and to smooth the real exchange rate. During the commodity price boom, Russia followed partially this prescribed policy, but the situation changed a er the crash of oil and gas prices in 2014. Possible ways to over- come the consequences of low oil and gas prices are discussed, paying particular attention to the lack of economic complexity and the need for diversi cation and capabilities for growth and development of the Russian economy.
AB - Economies, like Russia, blessed with resource abundance, do not usually perform well during the period of commodity price boom. e optimal policy of managing resource revenues prescribes to commit the permanent income rule to smooth the resource dividend in e ciency units and to smooth the real exchange rate. During the commodity price boom, Russia followed partially this prescribed policy, but the situation changed a er the crash of oil and gas prices in 2014. Possible ways to over- come the consequences of low oil and gas prices are discussed, paying particular attention to the lack of economic complexity and the need for diversi cation and capabilities for growth and development of the Russian economy.
KW - NATURAL RESOURCE CURSE
KW - MANAGING RESOURCE REVENUES
KW - PERMANENT INCOME RULE
KW - real exchange rate
KW - COPING WITH LOW COMMODITY PRICES
KW - diversification
KW - ECONOMIC COMPLEXITY
KW - ресурсное проклятие
KW - УПРАВЛЕНИЕ РЕСУРСНЫМИ ДОХОДАМИ
KW - ПРАВИЛО ПОСТОЯННОГО ДОХОДА
KW - РЕАЛЬНЫЙ ВАЛЮТНЫЙ КУРС
KW - ПРЕОДОЛЕНИЕ НИЗКИХ ЦЕН НА СЫРЬЕВЫЕ ТОВАРЫ
KW - диверсификация
KW - ЭКОНОМИЧЕСКАЯ СЛОЖНОСТЬ
UR - https://www.elibrary.ru/item.asp?id=30147392
M3 - Article
VL - 33
SP - 348
EP - 363
JO - ВЕСТНИК САНКТ-ПЕТЕРБУРГСКОГО УНИВЕРСИТЕТА. ЭКОНОМИКА
JF - ВЕСТНИК САНКТ-ПЕТЕРБУРГСКОГО УНИВЕРСИТЕТА. ЭКОНОМИКА
SN - 1026-356X
IS - 3
ER -
ID: 9293721