Russian Economy Underestimated Investment Decline During Transition Period.
The article examines how fixed assets and investments in the Russian economy during its transition period were measured. The official method used may have underestimated the rate of fixed assets renewal and investment decline. Alternative estimates show different dynamics in different industries from 1991 to 2003. This suggests that the traditional explanations for investment behavior in the Russian economy during transition need to be reevaluated.