Economics, Econometrics and Finance
8 years ago

Russian economy faces boom and bust cycle due to oil dependency.

Economic Modelling
Oil dependency of the Russian economy: An econometric analysis
Andreas Benedictow, Daniel Fjærtoft, Ole Løfsnæs

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The Russian economy depends heavily on oil prices. When oil prices go up, the economy grows, but it also hurts traditional industries. However, the economy can still grow without relying on oil. How the government spends oil money affects economic growth and wealth accumulation.