Skip to main content

Advertisement

SpringerLink
Log in

Economic Growth Theory and the Dynamics of the Russian Economy

  • Published:
Journal of Mathematical Sciences Aims and scope Submit manuscript

Abstract

Using the endogenous growth model earlier proposed by the author, we study the interrelation between the growth rate and the investment rate as well as the connection of these variables with labor market institutions of the economy. The conditions leading to economic growth and recession are found. It is shown that an increase in the investment rate is, generally speaking, neither necessary nor sufficient for an increase in the growth rate. Using the model, we discuss the dynamics of the Russian economy, in particular, the transformational recession of the 1990s and the economic recovery that followed the 1998 crisis. Bibliography: 20 titles.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Similar content being viewed by others

REFERENCES

  1. L. V. Kantorovich and L. I. Gor'kov, “On some functional equations arising in analysis of a one-product economic model,” Dokl. Akad. Nauk SSSR, 129, No.4, 732–735 (1959).

    MathSciNet  Google Scholar 

  2. L. V. Kantorovich and V. I. Zhiyanov, “One-product dynamic model of economy taking into account changes in the structure of funds under presence of technological progress,” Dokl. Akad. Nauk SSSR, 211, 1280–1283 (1973).

    MathSciNet  Google Scholar 

  3. L. V. Kantorovich, V. I. Zhiyanov, and A. G. Khovansky, “Analysis of dynamics of economic variables on the basis of one-product dynamic models,” Sb. Trudov VNIISI, 9, 5–25 (1978).

    Google Scholar 

  4. V. D. Matveenko, “Infinite-optimal paths in discrete one-product models of economic dynamics,” in: Mathematical Models and Statistical Analysis of Technological Progress, L. V. Kantorovich (ed.), Sb. Trudov VNIISI, 8, 37–43 (1982).

  5. V. D. Matveenko, “Optimal values of macroeconomic variables in one-product dynamic models,” in: Optimal Models in System Analysis, L. V. Kantorovich (ed.), Sb. Trudov VNIISI, 9, 58–65 (1983).

  6. V. D. Matveenko, “Optimal trajectories in a discrete one-product model of economic dynamics,” Dokl. Akad. Nauk SSSR, 277, No.3, 534–537 (1984).

    MATH  MathSciNet  Google Scholar 

  7. V. D. Matveenko, “Generating controls in a one-product model of economic dynamics,” in: Modeling and Optimization in Planning and Control Problems. Mathematical Studies [in Russian], 87, Kishinev (1986), pp. 111–115.

    MATH  MathSciNet  Google Scholar 

  8. A. M. Rubinov, K. Yu. Borisov, V. N. Desnitskaya, and V. D. Matveenko, Optimal Control in Aggregated Models of the Economy [in Russian], Nauka, Leningrad (1991).

    Google Scholar 

  9. M. Frankel, “The production function in allocation and growth: a synthesis,” Amer. Economic Review, 52, No.5, 995–1022 (1962).

    Google Scholar 

  10. R. J. Barro and X. Sala-i-Martin, Economic Growth, McGraw-Hill, New York (1995).

    Google Scholar 

  11. W. Easterley, The Elusive Quest for Growth: Economist's Adventures and Misadventures in the Tropics, MIT Press, Cambridge-London (2002).

    Google Scholar 

  12. V. Matveenko, K. Vostroknoutova, and M. Bouer, “Transformational decline and preconditions of growth in Russia,” in: EERC Working Paper Series, 98/03, Economics Education and Research Consortium, Moscow (1998).

    Google Scholar 

  13. V. D. Matveenko and P. A. Savelin, “Labor supply in the state sector of the Russian economy,” in: ASPE Research Paper Series, No. 5, Association for Studies in Public Economic, St.-Petersburg (2002), pp. 193–228.

    Google Scholar 

  14. R. Lucas, “On the mechanics of economic development,” J. Monet. Econom., 22, 3–42 (1988).

    Google Scholar 

  15. D. Xie, “Divergence in economic performance: transitional dynamics with multiple equilibria,” J. Econom. Theory, 63, 97–112 (1994).

    Article  MATH  Google Scholar 

  16. V. D. Matveenko and A. M. Gurevich, “Endogenous growth models, their development, and perspectives,” in: Economic Studies: Theory and Applications, 1, European University at St.-Petersburg, St.-Petersburg (2002), pp. 260–295.

    Google Scholar 

  17. O. J. Blanchard and S. Fisher, Lectures on Macroeconomics, MIT Press, Cambridge-London (1989).

    Google Scholar 

  18. C. J. Jones, “Time series tests of endogenous growth models,” Quart. J. Econom., 110, No.2, 495–525 (1995).

    MATH  Google Scholar 

  19. E. R. McGrattan, “A defense of AK growth models,” Federal Reserve Bank Minneapolis Quarterly Review, 22, No.4, 13–27 (1998).

    Google Scholar 

  20. P. Romer, “Increasing returns and long-run growth,” J. Political Economy, 94, 1002–1037 (1986).

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. St.Petersburg Institute of Economics and Mathematics, St.Petersburg, Russia

    V. D. Matveenko

  2. European University at St.Petersburg, St.Petersburg, Russia

    V. D. Matveenko

Authors
  1. V. D. Matveenko
    View author publications

    You can also search for this author in PubMed Google Scholar

Additional information

__________

Translated from Zapiski Nauchnykh Seminarov POMI, Vol. 312, 2004, pp. 215–238.

Rights and permissions

Reprints and permissions

About this article

Cite this article

Matveenko, V.D. Economic Growth Theory and the Dynamics of the Russian Economy. J Math Sci 133, 1491–1503 (2006). https://doi.org/10.1007/s10958-006-0064-3

Download citation

  • Received:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s10958-006-0064-3

Keywords

Search

Navigation