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On the Effect of the Russian Ruble Exchange Rate on the Economic Growth Dynamics


(about the author)

–

Doctor of Science, Economics, Head of the Chair at the Faculty of Finance and Banking, The Russian Academy of National Economy and Public Administration

(The Russian Academy of National Economy and Public Administration)

Published in:
Global Markets and Financial Engineering (Russian version)
– Volume 1, Number 1 (October-December, 2014)



Keywords: dynamic economic growth, economic growth, exchange rate


Citation:
(2014). On the Effect of the Russian Ruble Exchange Rate on the Economic Growth Dynamics. Global Markets and Financial Engineering (Russian version), 1(1), 9-24. doi: 10.18334/grfi.1.1.5


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Abstract:

In the post-crisis period (2009-2014), there has been a significant difference in the dynamics of Russia’s GDP and that of other major economies in the world. This article is devoted to the study of the factors that have influenced the formation of this trend and the prospects of change in the current situation. The article examines the monetary and exchange rate policy of the Central Bank as a key factor determining the present and the near-term situations. It has been concluded that the transition to a floating exchange rate and inflation targeting largely determined the formation of this trend. The author discusses the problem requiring the quickest solution - what changes should be introduced into the existing policies in order to change the established negative trends.








References:
1. Osnovnye napravleniya edinoy gosudarstvennoy denezhno-kreditnoy politiki na 2015 god i period 2016 i 2017 godov.
2. Brodskiy B.E. O vliyanii realnogo obmennogo kursa rublya na rossiyskuyu ekonomiku//Prikladnaya ekonometrika. –2006. -No 4. –s. 90-104.
3. Platezhnyy balans Rossiyskoy Federatsii (analiticheskoe predstavlenie), www.cbr.ru
4. Fixing for Your Life, Guillermo A. Calvo, Carmen M. Reinhart, NBER Working Paper No. 8006, November 2000

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