Economic Growth Factors in 2011 – HI 2012
Journal of Russian Economic Developments. #3, 2013
3 Pages Posted: 23 Mar 2013
Date Written: March 21, 2013
Abstract
The results of decomposition of production growth rate indicate that in 2012 the increase in the gross value added (GVA) of the industry was achieved by increasing the extensive factors. According to the tentative estimates, the growth rates of total factor productivity (TFP) of industrial production were negative. In the cost structure of the main factors of the industrial sector in 2012, the cost of capital was dominating; the growth of labor cost in industrial production was implemented mainly due to increase in labor reserves (number of employees).
Keywords: Russian economy, economic growth
JEL Classification: F43, F40
Suggested Citation: Suggested Citation