Regions in Q1 2016: Adaptation to the New Reality
Russian Economic Developments. Moscow, 2016, No.6, pp. 43-48
6 Pages Posted: 28 Jun 2016
Date Written: June 27, 2016
Abstract
Q1 2016 as H2 2015 demonstrated that the crisis in the regions has turned into a slow rolling phase. Everybody is gradually adapting to the new reality: industry, labor markets, and the population, which is cutting consumption in line with falling income. Regional picture has become even more eroded: the recovery growth with its drivers is nowhere in sight and the regions affected by the crisis to a greater degree have already passed the slump stage and are gradually adapting to inferior quality of life.
Keywords: Russian economy, regional development
JEL Classification: J21, J22, J23
Suggested Citation: Suggested Citation