Input of Economic Growth Factors into the Value Added Index in the Industrial Sector in 2014

Abstract

The results of decomposition of output growth rates demonstrate that, in 2014, gross value added (GVA) in industrial production continued to be pushed up by the increasing inputs of extensive factors. The preliminary estimates of the growth rates of combined factor productivity (CFP) derived for the main types of economic activity are negative. The structure of inputs provided by the main production factors in industry in 2014 is dominated by capital inputs; labor inputs in industrial production are infl uenced both by increasing labor reserves (the actual number of the employed) and the increasing intensity of their use (the working hours).

Keywords: Russian economy, Russia's industrial sector, industrial enterprives, Value added

JEL Classification: Е30, E31, C81, L11