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Effect of high loan interest rates on the economic growth in the Russian Federation


Pavel V. Trunin, Elena V. Sinelnikova-Muryleva, Alexandra V. Bozhechkova
(about the authors)

Trunin Pavel V. – Candidate of Science, Economics, Leading Researcher (the Russian Presidential Academy of National Economy and Public Administration)

Sinelnikova-Muryleva Elena V. – Candidate of Science, Economics, Associate Professor, Chair of Microeconomics, Faculty of Economics (the Russian Presidential Academy of National Economy and Public Administration)

Bozhechkova Alexandra V. – Candidate of Science, Economics, Senior Researcher (the Russian Presidential Academy of National Economy and Public Administration)

Published in:
Russian Journal of Entrepreneurship
– Volume 17, Number 10 (May 2016)

JEL classification: E31, E52, O40

Keywords: economic growth, inflation, inflation expectations, monetary policy, nominal interest rate, real interest rate


Citation:
Pavel V. Trunin, Elena V. Sinelnikova-Muryleva, Alexandra V. Bozhechkova (2016). Effect of high loan interest rates on the economic growth in the Russian Federation. Russian Journal of Entrepreneurship, 17(10), 1213–1218. doi: 10.18334/rp.17.10.35293


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Abstract:

The article is devoted to the study of mechanisms and the level of effect of interest rates to the economic growth. Main theoretical approaches that explain influence channels of the nominal and the real interest rates on dynamics of the issue and its elements as well as results of the review of empirical studies for developed and developing countries. Country cases of Brazil, India, Turkey and Chili are analyzed, key reasons for the chance of coexistence of high interest rates and high economic growth rates are detected.







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