Skip to main content

Economic Fluctuations and Their Drivers in Russia

  • Chapter
  • First Online:
Business Cycles in BRICS

Part of the book series: Societies and Political Orders in Transition ((SOCPOT))

  • 433 Accesses

Abstract

In many respects, the historical trajectory of the Russian economy during the twentieth century has been a terra incognita until now. As for the official statistics, there are at least three important reasons for this. First, many relevant indicators were either not measured or were kept secret and never published. Second, Russia (as the RSFSR) was a part of the USSR, and statistics for the RSFSR was much less prevalent than for the USSR as a whole (historical changes of the Russian borders also require special consideration). Third, an ideological dogma existed about the absence of inflation in the planned Soviet economy; therefore, all deflators (if any) were underestimated, and all aggregates in constant and/or comparable prices were overestimated (as were the corresponding growth rates). As for the unofficial historical estimates, most of them were focused on the USSR, not on the RSFSR. It’s very risky to use them as a proxy for historical indicators of the Russian Federation.

Hence, our first aim was to construct a statistical time-series that might be useful to describe the long-run trajectory of the Russian (the RSFSR and/or the RF) economy. Using previously unpublished data stored in Russian archives, we tried to extend them back as far as possible; in fact, most of them began in the late 1920s.

Our second aim was to denote periods of growth and contraction in the Russian economy and to reveal the economic factors that caused changes in trajectory. Periods of contractions during the era of the planned economy were of special interest for us. We found that recessions had occurred, not only in the market but also in the planned Russian economy (of course, with a significant remark that contractions in the planned economy were much rarer but evidently more destructive).

This chapter is an updated version of the earlier article: Smirnov S. V. Economic Fluctuations in Russia (from the late 1920s to 2015). Russian Journal of Economics. 2015. Vol. 1. No. 2. P. 130-153. The author is grateful for nonprofit partnership “Redaktsiya zhurnala ‘Voprosy Ekonomiki’” for permission to republish it. Support from the Basic Research Program of the National Research University Higher School of Economics is also gratefully acknowledged.

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

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Notes

  1. 1.

    See Smirnov (2012) for a survey.

  2. 2.

    In the West, the word “Russia” is often applied to the USSR. Strictly speaking, it’s no more justified than it is to use the word “England” for “Great Britain” or to use “Great Britain” and “the United Kingdom” as full synonyms.

  3. 3.

    Hereinafter, we shall use “Russia” as a synonym for the Russian Federation (the RF) and/or the Russian Soviet Federative Socialist Republic (the RSFSR).

  4. 4.

    It’s especially true for the defense and military statistics. One has no real foundation for splitting this kind of data into time-series for the RSFSR and for “all other” regions of the USSR.

  5. 5.

    See Harrison (1998) for interesting analyses.

  6. 6.

    There were also several minor changes of the borders between the RSFSR and other Union Republics. Their macroeconomic outcomes are close to zero.

  7. 7.

    In 1940 as a result of the 1939–1940 Winter War, the area of the Karelo-Finnish Soviet Republic slightly expanded as some territories (Vyborg and several others) were ceded from Finland to the USSR. There is no necessary statistical information to make this amendment, but it is definitely negligible for macroeconomic indicators.

  8. 8.

    Scanned copies of most of them can be found on the private website http://istmat.info/statistics

  9. 9.

    Needless to say, this is a very intriguing issue, but it’s also very special and highly complex. We do doubt that enough information has ever existed to split—in a meaningful manner—the historical data on military expenses and military production in the USSR between the RSFSR and all other regions of the Soviet Union. On the role of the defense or military sector in the USSR, see Simonov (1996) and Gregory (2003b). The current situation in the RF is described in Balashov and Martianova (2015).

  10. 10.

    We also tried a semilog scale and charts for Y-o-Y % changes, but charts for absolute levels are more distinct. Other types of diagrams are available from the author upon request.

  11. 11.

    If one views the Soviet statistics as an “instrument of propaganda,” one would agree that its effectiveness was quite high: for each “unit” of output produced by industrial establishments during 1961–1990, the statistical system created just another “unit.” As a result, in 1990 the total “official” index was twice the (more realistic) “unofficial.”

  12. 12.

    As supplementary indicators for agriculture, we also used time-series on grain production and on grain area planted. It is worth noting that the average harvest after 2000 (slightly more than 80 million tons) is roughly equal to the average harvests of the 1960s, while the area planted is 1.7 times less. One could argue that an increase in agricultural productivity occurred across the world and was related to the use of fertilizers, better seeds, and new harvesting machines. But the following facts are very revealing: from 1970 to 1991 (the last year of the USSR), the global average cereal yield grew 57%, while in Russia it declined 3%; on the contrary, from 1991 to 2014 (more recent global data are unavailable), the global average cereal yield grew 37% which is much less than in Russia (58%). Does anyone need any other proof as to the ineffectiveness of the Soviet planned economic system?

  13. 13.

    See Davies and Wheatcroft (2009) for excellent research of this period.

  14. 14.

    See, for example, Lopatin and Lopatina (2009, pp. 22, 30, 84), and others.

  15. 15.

    According to www.merriam-webster.com, a collective farm (or “kolkhoz” in Russian) is “a farm… formed from many small holdings collected into a single unit for joint operation under governmental (and the Communist Party’s—S.S.) supervision.” The collectivization in the USSR was a highly forced process.

  16. 16.

    The 1963 crop failure was the first time grain was imported to the USSR for many decades.

  17. 17.

    It may even be a leading one because the transportation of raw materials—not other goods—has been the main specialization of Russian railroads. Surely, the leading effect may not be observable with annual data but can be seen by examining more frequent data (e.g., monthly). See Smirnov (2013b) and Macheret (2015).

  18. 18.

    See Kuboniwa (2014) and the references herein for the most important details.

  19. 19.

    The famine was not less serious in the current territories of Kazakhstan and especially Ukraine, but here we focus on Russia only.

  20. 20.

    Some other researchers emphasize great losses while gathering the harvest due to the low level of agricultural technologies and the high level of irresponsibility on the part of newly established collective farmers. See Zhuravlev (2012).

  21. 21.

    Detailed analyses in Davies (1996) don’t contradict this thesis.

  22. 22.

    These low prices were the main channel of influence of the Great Depression in the USA and some other industrialized countries on the Soviet economy. By that time, the USSR had departed from the world economy to a great extent. All other economic interconnections were weak, except “imports of brains” [see Korneychuk (2015) for interesting details].

  23. 23.

    And by an additional 18% in 1943. Total grain production in 1943 was only 36% of 1940 production.

  24. 24.

    The growth of 1941 may be overestimated because of incorrect deflators. On the other hand, this disturbance is probably less than usual because price control was evidently stricter during the war years. In any case, the industrial production of the RSFSR was much more dynamic than in the USSR as a whole (a drop by 2% in 1941, and by 21% in 1942). There are two reasons for this: (a) the loss of territories (in percent) for the USSR was much greater than for the RSFSR, as all the Soviet republics in the west of the USSR (Ukraine, Belarus, Moldova, the Baltic States) were totally occupied, and their contribution to the total output of the USSR was equal to zero (a decline of 100%); (b) a number of large industrial plants were moved from the Western regions of the USSR to the Eastern regions of the RSFSR during the first months of the war. Their output in the new locations expanded the industrial production of the RSFSR.

  25. 25.

    It’s impossible to split the official index of industrial production into military and civilian parts. Hence, from the point of view of common sense, one may be sure that a significant decrease of military production took place, but several hypotheses about civil production are possible.

  26. 26.

    The factors for the long retardation of Russian growth were discussed by Easterly and Fischer (1995) and Rosefielde and Kuboniwa (2003).

  27. 27.

    Measured by the average alternative index. The official data gives +3% (the minimum for all years since 1947).

  28. 28.

    Of course, one must keep in mind that there is some specificity in the concept of “demand” under the planned economy. For example, in 1971 the first conveyor line at the largest Soviet automobile plant was implemented; at the end of 1973, the whole plant was completed. Total production of autos in 1974 (1 million autos) turned to be roughly four times larger than in 1970 (0.26 million). Does it mean that the demand for autos was fulfilled? Of course not. The number of autos per capita in Russia was many times lower than in the US or European countries; those who wanted to buy an auto had to wait for permission for 2 or 3 years or to buy one immediately at the black market. But there was no “demand” for production of more autos from those in the USSR who were responsible for investment decisions; they thought they had done “enough” for the population. The output of autos in the planned Russian economy never exceeded 1 million by more than 16%, while there were zero auto imports.

  29. 29.

    With only one exception: in 1986 it was equal to 2.8%.

  30. 30.

    If measured by the alternative index. The official industrial index began to decrease in 1990; it fell by 8.1% during 1990–1991.

  31. 31.

    Official statistics became much more reliable after the USSR; there is no need for alternative estimates after 1991.

  32. 32.

    The political risk of restoring communism and returning to a planned economy existed until the presidential election in the middle of 1996. Then Boris Yeltsin won a new 4-year term.

  33. 33.

    To the “crawling peg” regime, according to the IMF’s classification, to be precise.

  34. 34.

    As the deep crisis in Russia began only in the end of the third quarter of 2008 and there had been previous overheating, there was not enough time to make the 2008 annual growth rates negative for most other indicators.

  35. 35.

    See Akindinova et al. (2017) for a deeper analysis of the economic and institutional reasons for this.

  36. 36.

    Here we count two waves of the Great Russian Depression as separate ones.

  37. 37.

    There is a huge amount of economic literature dedicated to the transition period of Russian economy [e.g., see Åslund (2013) for its description].

  38. 38.

    See Ickes (1986) for a survey.

References

  • Akindinova N, Chernyavskiy A, Kondrashov N, Yakovlev A (2017) Political response to the crisis: the case of Russia. In: Havlik P, Iwasaki I (eds) Economics of European crises and emerging markets. Palgrave Macmillan, New York, pp 239–262

    Chapter  Google Scholar 

  • Alekseev AV (1994) Alternative estimates of Russian economic growth. ECO no 11, pp 94–108 (in Russian) [Алексеев АВ (1994) Альтернативные оценки российского экономического роста. ЭКО. No. 11, C 94–108]

    Google Scholar 

  • Alekseev AV, Kiselyov AV, Kuznetsova NN (1996) Long-run tendencies in Russian economic growth. ECO no 1, pp 108–126 (in Russian) [Алексеев АВ, Киселев АВ, Кузнецова НН (1996) Долгосрочные тенденции российского экономического роста. ЭКО. No. 1, C 108–126]

    Google Scholar 

  • Åslund A (2013) How capitalism was built: the transformation of Central and Eastern Europe, Russia, the Caucasus, and Central Asia, 2nd edn. Cambridge University Press, New York

    Google Scholar 

  • Balashov A, Martianova Y (2015) Re-industrialization of the Russian economy and the development of military-industrial complex. Voprosy Ekonomiki 9:31–44 [Балашов А, Мартьянова Я (2015) Реиндустриализация российской экономики и развитие оборонно-промышленного комплекса. Вопросы экономики 9:31–44]

    Google Scholar 

  • Baranov EF, Bessonov VA (1999) Indexes of industrial production (Jan 1990–Dec 1998). Promyshlennost Rossii 3:4–12 (in Russian) [Баранов ЭФ, Бессонов ВА (1999) Индексы интенсивности промышленного производства (январь 1990 г. — декабрь 1998 г.). Промышленность России 3:4–12]

    Google Scholar 

  • Bergson A (1961) The real national income of Soviet Russia since 1928. Harvard University Press, Cambridge

    Google Scholar 

  • Bokarev YP (2006) Growth rates of industrial output in Russia from the late XIX to the early XX century. Econ J 1:158–190 (in Russian) [Бокарев ЮП (2006) Темпы роста промышленного производства в России в конце XIX–начале XX в. Экономический журнал 1:158–190]

    Google Scholar 

  • BP (2017) Statistical review of world energy – underpinning data, 1965–2016. https://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy.htm

  • Burns AF, Mitchell WC (1946) Measuring business cycles. NBER

    Google Scholar 

  • ClA (1963) Index of civilian industrial production in the USSR, 1950–1961. CIA RR ER 63–29. US GPO, Washington

    Google Scholar 

  • CIA (1971) Indexes of Soviet industrial production, 1950–70. CIA intelligence report RR IR 71–11. US GPO, Washington

    Google Scholar 

  • CIA (1990) Measuring Soviet GNP: problems and solutions. A conference report, vol 3. US GPO, Washington

    Google Scholar 

  • Davies RW (1996) Crisis and progress in the Soviet economy, 1931–1933. Palgrave School, Houndmills

    Book  Google Scholar 

  • Davies RW, Wheatcroft SG (2009) The years of hunger: soviet agriculture, 1931–1933. Revised edition. Palgrave Macmillan, New York [Russian edition: Дэвис, Роберт и Стивен Уиткрофт (2011) Годы голода. Сельское хозяйство СССР 1931–1933 гг. Росспэн, М]

    Google Scholar 

  • Davies RW, Harrison M, Wheatcroft SG (eds) (1994) The economic transformation of the Soviet Union, 1913–1945. Cambridge University Press, Cambridge

    Google Scholar 

  • Easterly W, Fischer S (1995) The Soviet economic decline. World Bank Econ Rev 9(3):341–371

    Article  Google Scholar 

  • Gerchuk YP (1926) Index numbers of the physical volume of industrial production computed by Conj. Inst. Economic Bulletin of the Conjuncture Institute 2:12–20 [Герчук ЯП (1926) Индексы физического объема промышленного производства, исчисленные Конъюнктурным институтом. Экономический бюллетень Конъюнктурного института 2:12–20]

    Google Scholar 

  • Goldsmith RW (1961) The economic growth of tsarist Russia 1860–1913. Essays in the quantitative study of economic growth. Presented to Simon Kuznets on the occasion of his sixtieth birthday, April 30, 1961, by his students and friends. Econ Dev Cult Chang 9(3):441–475

    Article  Google Scholar 

  • Gregory P (2003a) Economic growth of the Russian empire (late XIX—early XX century). New estimates and calculations. Moscow: ROSSPEN (in Russian) [Грегори П (2003a) Экономический рост Российской империи (конец XIX - начало XX в.). Новые подсчеты и оценки. РОССПЭН, М]

    Google Scholar 

  • Gregory P (2003b) Soviet defence puzzles: archives, strategy and underfulfilment. Eur Asia Stud 55(6):923–937

    Article  Google Scholar 

  • Harrison M (1998) Prices, planners, and producers: an agency problem in Soviet industry, 1928–1950. J Econ Hist 58(4):1032–1062

    Article  Google Scholar 

  • Harrison M (2002) Accounting for war: Soviet production, employment, and the defence burden, 1940–1945, 2nd edn. Cambridge University Press, Cambridge

    Google Scholar 

  • Ickes BW (1986) Cyclical fluctuations in centrally planned economies: a critique of the literature. Sov Stud 38(1):36–52

    Article  Google Scholar 

  • JEC (1962) Dimensions of Soviet economic power. Part II. The measure of production. US GPO, Washington

    Google Scholar 

  • JEC (1973) Soviet economic prospects for the seventies. US GPO, Washington

    Google Scholar 

  • JEC (1976) Soviet economy in a new perspective. US GPO, Washington

    Google Scholar 

  • JEC (1982) USSR: measures of economic growth and development, 1950–80. US GPO, Washington

    Google Scholar 

  • JEC (1990) Measures of Soviet gross national product in 1982 prices. US GPO, Washington

    Google Scholar 

  • JEC (1993) The former Soviet Union in transition. M.E. Sharpe, New York

    Google Scholar 

  • Kafengauz LB (1930) Evolution of industrial output of Russia (from the last third of the XIX century to the 1930s). Publishing House ‘Epiphany’, Moscow, 1994 [Кафенгауз ЛБ (1930) Эволюция промышленного производства России (последняя треть XIX в.—30-е годы XX в.). М.: Эпифания,1994]

    Google Scholar 

  • Korneychuk B (2015) The role of foreign participation in Soviet industrialization: an institutional view. Voprosy Ekonomiki 9:109–123 (in Russian) [Корнейчук Б (2015) Роль иностранного участия в советской индустриализации: институциональный аспект. Вопросы экономики 9:109–123]

    Google Scholar 

  • Kuboniwa M (1997) Economic growth in post-war Russia: estimating GDP. Hitotsubashi J Econ 38(1):21–32

    Google Scholar 

  • Kuboniwa M (2014) The impact of oil prices, total factor productivity and institutional weakness on Russia’s declining growth. RRC working paper series no 49. Hitotsubashi University, Tokyo

    Google Scholar 

  • Lopatin LN, Lopatina NL (2009) The collectivization and dispossession: testimony of witnesses and documents. Publishing House ‘Axiom’, Kemerovo (in Russian) [Лопатин ЛН, Лопатина НЛ (2009) Коллективизация и раскулачивание (очевидцы и документы свидетельствуют). Кемерово, Изд-во Аксиома]

    Google Scholar 

  • Macheret D (2015) The dynamics of railway cargo transportation as a macroeconomic indicator. Econ Policy 10(2):133–150 (in Russian) [Мачерет Д (2015) Динамика железнодорожных перевозок грузов как макроэкономический индикатор. Экономическая политика 10(2):133–150]

    Google Scholar 

  • Markevich A, Harrison M (2011) Great war, civil war, and recovery: Russia’s national income, 1913 to 1928. J Econ Hist 71(3):672–703

    Article  Google Scholar 

  • Moorsteen R, Powell R (1966) The Soviet capital stock, 1928–62. RD Irwin, Homewood

    Google Scholar 

  • Ponomarenko AN (2002) Russia’s national accounts in retrospect, 1961–1990. Financy i Statistika, Moscow (in Russian) [Пономаренко АН (2002) Ретроспективные национальные счета России: 1961–1990. М., Финансы и статистика]

    Google Scholar 

  • Rosefielde S (2003) The riddle of post-war Russian economic growth: statistics lied and were misconstrued. Eur Asia Stud 55(3):469–481

    Article  Google Scholar 

  • Rosefielde S, Kuboniwa M (2003) Russian growth retardation then and now. Eurasian Geogr Econ 44(2):87–101

    Article  Google Scholar 

  • Simonov NS (1996) The military-industrial complex of the USSR from the 1920s to the 1950s. ROSSPEN, Moscow (in Russian) [Симонов НС (1996) Военно-промышленный комплекс СССР в 1920–1950-е годы: темпы экономического роста, структура, организация производства и управление. Росспэн, М]

    Google Scholar 

  • Smirnov SV (2012) Industrial output and economic cycles in the USSR and Russia, 1861–2012. National Research University ‘Higher School of Economics’. Publishing House of the Higher School of Economics, Moscow (in Russian) [Смирнов СВ (2012) Динамика промышленного производства и экономический цикл в СССР и России, 1861–2012: Нац. исслед. ун-т «Высшая школа экономики». Изд. дом Высшей школы экономики, М]

    Google Scholar 

  • Smirnov SV (2013a) Cyclical mechanisms in the US and Russia: why are they different? Working paper WP2/2013/01. National Research University ‘Higher School of Economics’, Moscow

    Google Scholar 

  • Smirnov SV (2013b) Cyclical patterns of railroad freight transportation (RFT) in Russia. CIRET/KOF workshop on sectoral dimensions in economic cycles, Zurich, 4–5 Oct 2013

    Google Scholar 

  • Suhara M (2000) An estimate of Russian industrial production: 1960–90. Voprosy Statistiki 2:55–63 (in Russian) [Сухара М (2000) Оценка промышленного производства России: 1960–1990 годы. Вопросы статистики 2:55–63]

    Google Scholar 

  • Suhara M (2006) Russian industrial growth: an estimate of a production index, 1860–1913. Research Institute of Economic Science, College of Economics, Nihon University. Working paper series, no 05-03

    Google Scholar 

  • Varzar V (1928) Index of physical volume of consumption of the USSR for forty years (manuscript). Russian State Historical Archive (RSHA) F. 1607. Op. 1. D. 59 [Варзар ВЕ (1928) Индекс физического объема потребления СССР за сорок лет (рукопись). Российский государственный исторический архив (РГИА) Ф.1607. Оп. 1. Д. 59]

    Google Scholar 

  • Zhuravlev S (2012) The 1932–33 Famine: false and real causes. Expert no 1 (26 Dec 2011–15 Jan 2012) (in Russian) [Журавлев С (2012) Голод 1932–1933 годов: причины реальные и мнимые. «Эксперт» 1 (26 дек. 2011–15 янв. 2012)]

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Sergey V. Smirnov .

Editor information

Editors and Affiliations

Appendices

Appendix 1

Main Russian Macroeconomic Indicators (1928–2017a)

Years

Index of industrial output

Agriculture

Residential construction, new completions

Railroad

Official

Alternative

Livestock inventory

Grain production, at granary

Grain production, in the field

Grain area planted

State organizations and establishments

Total population

Workers and employees

Freight transportation

Y-o-Y % change

Millions of heads

Millions of tons

Millions of hectares

Millions of m2

Millions of tons

1928

Na

Na

108.0

50.0

50.0

61.4

Na

Na

Na

88.6

1929

20.0

Na

87.0

Na

45.5

64.0

Na

Na

Na

107.1

1930

22.0

Na

68.0

Na

52.5

67.2

Na

Na

Na

133.7

1931

18.0

Na

57.0

Na

43.4

70.2

Na

Na

Na

144.9

1932

15.0

Na

50.7

47.5

47.5

69.0

Na

Na

Na

151.2

1933

5.2

Na

52.5

Na

58.8

69.5

Na

Na

Na

150.2

1934

19.2

Na

62.1

Na

65.1

71.9

Na

Na

Na

Na

1935

22.7

Na

77.2

Na

62.5

71.2

Na

Na

Na

219.9

1936

28.7

Na

72.2

Na

48.9

70.8

Na

Na

Na

Na

1937

11.2

Na

86.6

70.4

86.4

73.1

Na

Na

Na

299.3

1938

12.1

Na

86.6

Na

63.0

71.4

Na

Na

Na

295.3

1939

17.2

Na

86.5

Na

64.9

69.2

Na

Na

Na

317.5

1940

10.5

Na

91.1

55.6

73.0

70.1

Na

Na

Na

333.9

1941

3.8

Na

68.5

45.5

75.9

68.5

Na

Na

Na

322.7

1942

−8.9

Na

55.7

24.0

44.0

54.6

Na

Na

Na

236.8

1943

17.5

Na

59.5

19.8

36.3

51.4

Na

Na

Na

265.7

1944

13.2

Na

63.4

26.9

39.8

48.9

Na

Na

Na

271.0

1945

−15.6

Na

65.8

25.4

Na

50.9

Na

Na

Na

268.3

1946

−21.7

Na

62.0

21.2

Na

50.0

7.0

Na

2.5

282.9

1947

19.3

Na

67.6

35.7

Na

53.3

7.3

Na

3.3

302.1

1948

24.2

Na

77.9

34.2

Na

61.0

9.0

Na

3.3

370.9

1949

18.7

Na

87.9

38.9

Na

63.2

9.8

Na

3.3

439.3

1950

19.9

Na

88.3

46.8

Na

64.9

11.9

Na

3.6

498.2

1951

15.4

Na

98.3

47.5

Na

68.2

14.1

Na

4.3

547.9

1952

10.9

Na

97.9

51.9

Na

68.6

14.1

Na

4.3

597.6

1953

11.2

Na

101.5

48.2

Na

68.2

16.5

Na

4.3

638.7

1954

12.9

Na

102.1

56.3

Na

72.5

17.5

Na

4.5

677.7

1955

11.7

Na

105.1

54.7

Na

76.2

17.1

Na

4.7

761.7

1956

9.6

Na

110.6

66.5

Na

74.4

20.9

Na

6.6

819.9

1957

9.0

Na

117.9

54.9

Na

72.7

26.6

Na

7.7

891.5

1958

9.1

Na

125.6

72.9

Na

72.5

31.6

Na

14.2

970.3

1959

11.0

Na

132.2

64.9

Na

69.1

36.3

Na

14.5

1061.3

1960

8.8

Na

133.1

72.6

Na

71.4

36.7

Na

14.6

1140.7

1961

8.1

8.2

143.3

70.3

Na

74.5

36.9

Na

12.4

1193.8

1962

9.0

6.3

150.6

83.1

Na

79.2

38.4

Na

10.6

1236.7

1963

8.1

5.3

124.9

62.8

Na

79.4

39.4

Na

8.4

1285.0

1964

6.0

5.6

130.8

83.2

Na

81.6

37.7

Na

7.7

1350.0

1965

7.2

5.2

139.1

66.3

Na

77.6

40.2

Na

7.3

1415.8

1966

8.4

6.7

141.5

95.6

Na

76.1

41.3

Na

7.1

1441.3

1967

9.9

6.2

139.6

84.8

Na

74.9

42.6

Na

6.8

1514.9

1968

8.1

5.1

138.7

103.8

Na

74.3

43.6

Na

5.9

1558.9

1969

6.9

4.2

140.2

83.9

Na

73.5

45.9

Na

5.4

1585.3

1970

8.0

4.4

151.8

107.4

Na

72.7

48.1

Na

5.0

1648.2

1971

7.6

4.2

156.5

98.8

Na

71.8

49.5

Na

4.6

1736.6

1972

6.4

4.3

152.7

86.0

Na

73.1

50.3

Na

4.4

1782.6

1973

7.3

4.9

157.0

121.5

Na

76.6

51.9

Na

4.6

1879.0

1974

7.8

5.7

161.7

105.1

Na

76.5

52.5

Na

4.3

1979.8

1975

7.2

4.5

151.5

72.4

Na

77.0

52.9

Na

4.0

2039.8

1976

4.9

3.2

152.9

119.0

Na

77.2

52.0

Na

3.3

2041.5

1977

5.4

1.8

159.5

101.6

Na

78.4

52.7

Na

3.3

2072.2

1978

4.5

1.4

162.2

127.4

Na

77.0

52.4

Na

3.1

2090.6

1979

3.0

−0.4

161.9

84.8

Na

75.9

48.4

Na

2.9

2010.2

1980

3.0

1.7

159.1

97.2

Na

75.5

52.1

4.0

2.9

2047.9

1981

2.9

0.8

158.6

73.8

Na

74.1

51.5

3.9

Na

2065.3

1982

2.7

0.7

161.4

98.0

Na

72.0

52.7

3.9

Na

2032.9

1983

3.8

1.6

165.0

104.3

Na

70.7

54.3

3.8

Na

2110.5

1984

3.8

1.6

163.2

85.1

Na

69.7

53.2

3.9

Na

2134.8

1985

3.7

1.5

162.0

98.6

Na

68.1

53.6

3.7

Na

2165.0

1986

4.8

2.8

164.8

107.5

Na

67.5

57.4

3.9

Na

2236.0

1987

3.6

0.8

161.9

98.6

Na

66.7

63.8

4.2

Na

2228.0

1988

3.8

0.6

161.8

93.7

Na

66.0

62.6

5.2

Na

2261.0

1989

1.4

−1.4

160.1

104.8

Na

64.9

60.3

5.9

Na

2205.0

1990

−0.1

−2.2

153.6

116.7

Na

63.1

51.6

5.5

Na

2140.0

1991

−8.0

−8.9

145.3

89.1

Na

61.8

44.0

5.4

Na

1957.3

1992

−16.0

−14.9

135.1

106.9

Na

61.9

36.6

4.9

Na

1640.1

1993

−13.7

−14.4

121.2

99.1

Na

60.9

36.2

5.6

Na

1347.8

1994

−21.6

−26.1

102.7

81.3

Na

56.3

32.1

7.1

Na

1058.2

1995

−4.6

−5.2

90.4

63.4

Na

54.7

32.0

9.0

Na

1028.0

1996

−7.6

−8.6

77.0

69.2

Na

53.4

24.3

10.0

Na

911.5

1997

1.0

0.1

67.6

88.5

Na

53.6

21.2

11.5

Na

887.2

1998

−4.8

−4.2

61.3

47.8

Na

50.7

18.6

12.1

Na

834.8

1999

8.9

9.2

61.2

54.6

Na

46.5

18.3

13.7

Na

947.4

2000

8.7

8.1

58.3

65.4

Na

45.6

17.7

12.6

Na

1046.8

2001

2.9

4.5

59.2

85.1

Na

47.2

18.6

13.1

Na

1057.5

2002

3.1

3.4

60.8

86.5

Na

47.4

19.7

14.2

Na

1083.7

2003

8.9

6.2

58.6

67.0

Na

42.1

21.3

15.2

Na

1160.9

2004

8.0

5.5

54.9

77.8

Na

43.6

24.9

16.1

Na

1221.2

2005

5.1

3.2

54.0

77.8

Na

43.6

26.0

17.5

Na

1273.3

2006

6.3

5.0

57.9

78.2

Na

43.2

30.6

20.0

Na

1311.6

2007

6.8

5.4

59.4

81.5

Na

44.3

34.9

26.3

Na

1344.6

2008

0.6

−0.8

59.0

108.2

Na

46.7

36.7

27.4

Na

1304.4

2009

−10.7

−9.9

59.9

97.1

Na

47.6

31.3

28.5

Na

1108.8

2010

7.3

9.5

59.0

61.0

Na

43.2

32.9

25.5

Na

1312.0

2011

5.0

Na

60.3

94.2

Na

43.6

35.5

26.8

Na

1381.7

2012

3.4

Na

62.9

70.9

Na

44.4

37.3

28.4

Na

1421.1

2013

0.4

Na

63.0

92.4

Na

45.8

39.8

30.7

Na

1381.2

2014

1.7

Na

63.5

105.3

Na

46.2

48.0

36.2

Na

1375.4

2015

−3.4

Na

65.4

104.8

Na

46.6

50.1

35.2

Na

1329.0

2016

1.3

Na

65.6

120.7

Na

47.1

48.4

31.8

Na

1325.2

2017a

1.0

Na

66.4

134.1

Na

47.9

45.9

32.7

Na

1362.3

  1. Sources: See Appendix 2
  2. Note: Na not available
  3. aPreliminary

Appendix 2: Statistical Sources for the Main Russian Macroeconomic Indicators

Below we use the following translations from Russian to English:

  • Динамика и география грузового движения на путях сообщения СССР—Dynamics and Geographical Distribution of Freight Transportation in the USSR

  • Народное хозяйство РСФСР (или СССР)—National Economy of the RSFSR (or the USSR);

  • Посевные площади СССР (Статистический сборник)—USSR: Areas Planted. Statistical Digest

  • Российский статистический ежегодник—Russian Statistical Yearbook

  • Сельское хозяйство, охота и охотничье хозяйство, лесоводство в России—Agriculture, Hunting, and Forestry in Russia

  • Сельское хозяйство СССР. Ежегодник—Agriculture in the USSR. Yearbook

  • Социалистическое строительство СССР. Статистический ежегодник—Socialist Construction of the USSR. Statistical yearbook

  • Социально-экономические показатели Российской Федерации в 1991–2016 гг. Приложение к «Российскому статистическому ежегоднику (РСЕ)»—Socioeconomic indicators of the Russian Federation: 1991–2016. Supplement to “Russian Statistical Yearbook (RSY)”

  • СССР—страна социализма. Статистический сборник—The USSR is a Country of Socialism. Statistical Digest

  • Транспорт и связь СССР (Статистический сборник)—Transportation and Communication in the USSR. Statistical Digest

  • Центральная база статистических данных (ЦБСД)—Centralized Base of Statistical Data (CBSD)

  • Российский государственный архив экономики (РГАЭ)—The Russian State Economical Archive (RSEA)

The sources for each indicator are placed in a table—one table per indicator; there are also some methodological comments, if necessary. The information stored in the RSEA was initially “secret” or “top-secret,” but since 1956, the same indicators have been published in official statistical yearbooks.

1.1 Index of Industrial Production, Official

The official index of industrial production (1960 = 100) is in fact not fully official. We calculated it using official Y-o-Y percent changes (if available) or Y-o-Y percent changes that, in turn, were calculated using official base indices (with various bases) or values of industrial production in list prices (also with various bases). We took 1960 as a base to have a time-series comparable with the alternative index of industrial production.

Years

Source: title/archive and code

Page(s)

1929–1932, 1946–1965

National Economy of the RSFSR in 1965. Moscow: Statistika, 1966

46–47

1933–1936a

National Economy of the USSR in 1963. Moscow: Statistika, 1965

110

1938–1945, ex. 1941

RSEA 1562-33-2903

59–60, 64

1941

RSEA 1562-329-1488

18–19

1966–1975

National Economy of the RSFSR in 1975. Moscow: Statistika,1976

45

1976–1980

National Economy of the RSFSR in 1980. Moscow: Finansy i Statistika,1981

50

1981

National Economy of the RSFSR in 1985. Moscow: Finansy i Statistika,1986

55

1982–1985

Rosstat, CBSD

1986–1991

Russian statistical yearbook. 1994. Moscow: Goskomstat Rossii, 1994

296

1992–2016

Rosstat, supplement to RSY

  1. aAs a rough estimate we used data for the whole USSR for these years

1.2 Livestock Inventory

We added together the total number of cattle, sheep, goats, and pigs. Almost continuous time-series, beginning with 1927, are published in only one source; more recent and fully comparable data may be taken from the CBSD held by Rosstat. The “holes” for almost 90 years are 1928 and 1938. We succeeded in patching the hole in 1928 and substituted the average of 1937 and 1939 for 1938.

Years

Source: title/archive and code

Page(s)

1927–1989, e.g., 1928 and 1938

Agriculture, hunting and forestry in Russia. 2013. Moscow: Rosstat, 2013

90–91

1928a

RSEA 1562-41-66

297

1938b

Not available

1990

Rosstat, CBSD

1991–2016

Rosstat, supplement to RSY

  1. aIncl. Crimea and excl. The Karelo-Finnish Soviet Socialist Republic
  2. bWe used the average for 1937 and 1939

1.2.1 Grain Production

According to the present methodology (in use since 1953), the garnered grain is counted (at the granary at net weight). According to the “old” methodology, the harvest is estimated in the field (standing grain). It’s not a surprise that the “old” methodology gave higher numbers than the “present”; it’s a surprise that, according to Rosstat, for 1928 and 1932, both methodologies gave equal volumes. Therefore, one may doubt if Rosstat’s re-estimations for the 1920s and the 1930s were made in a proper way; in practice, it also means that one can’t use “old” data to interpolate the “new.” For this reason, we preferred to use both time-series in parallel (one for the “present” methodology, another for the “old” one).

Years

Source: title/archive and code

Page(s)

In the field (old methodology)

1928, 1932–1944

RSEA 1562-329-1409

1–2, 8

1929–1931

Agriculture in the USSR. Yearbook. 1935. Moscow: Selhozgiz, 1936

270–271

At granary (new methodology)

1928, 1932, 1937, 1940–1990

Agriculture, hunting, and forestry in Russia. 2013. Moscow: Rosstat, 2013

74

1991–2016

Rosstat, supplement to RSY

1.2.2 Grain Area Planted

The grain area planted was counted by the Soviet statistical system beginning in 1925. This indicator is more or less comparable through time. Some minor problems were connected with two factors: (a) the changes of the RSFSR’s borders (as a rule, these problems were easily solved, as the relevant regional information was usually available); and (b) with corn grain of milky-wax ripeness, which was included in total grain for several years in the second part of 1950s, and excluded for all other years. To handle with this bug we had to make our own estimates of this factor for 1956–1957 using information for the USSR as a whole; the correction was around 1.5% of the total area planted in the RSFSR.

Years

Source: title/archive and code

Page(s)

1925–1926a

Agriculture in the USSR. 1925–1928. Moscow: Stat. Izd-vo TsSU SSSR, 1929

220

1927

Socialist construction of the USSR. Statistical yearbook. 1934. Moscow, Soyuzorguchet, 1934

178, 190

1928, 1932, 1945, 1950–1956b

USSR: Areas planted. Statistical digest. 1957. Vol. 1. Moscow: Gosstatizdat, 1957

20–21

1929–1931

Agriculture in the USSR. Yearbook. 1935. Moscow: Selhozgiz, 1936

245–247

1933–1940

RSEA 1562-329-1409

1–2, 8

1941–1944

RSEA 1562-329-1490

157–158

1946–1949c

RSEA 1562-329-3871

90, 316

1957b

National Economy of the RSFSR in 1958. Moscow: Gosstatizdat, 1959

223

1958–1965

National Economy of the RSFSR in 1965. Moscow: Statistika, 1966

190–191

1966–1969

National Economy of the RSFSR in 1969. Moscow: Statistika, 1970

152–153

1970–1974

National Economy of the RSFSR in 1975. Moscow: Statistika, 1976

164–165

1975–1980

National Economy of the RSFSR in 1980. Moscow: Finansy i Statistika, 1981

134–135

1981–1984

National Economy of the RSFSR in 1985. Moscow: Finansy i Statistika, 1986

116

1985–1989

National Economy of the RSFSR in 1990. Moscow: Resp. inf.-izd. Centr., 1991

418

1990

Rosstat, CBSD

1991–2016

Rosstat, supplement to RSY

  1. aData are lowered 1.5% to be comparable with information from latter sources
  2. b1955–1957 data are corrected for corn grain of milky-wax ripeness
  3. cAreas planted in Crimea are estimated as 0.5 million of hectares (average for 1945 and 1950)

1.3 New Residential Completions

Historical information on residential construction is less available than on other sectors of the Russian economy, at least those considered here. Publication of the RSFSR’s data on new residential completions began in 1946; we couldn’t find any older information, even in unpublished documents stored in archives. Our hypothesis relates this to the fact that the main goal of economic policy during the Soviet period was the creation of large-scale industrial establishments, especially those which were specialized in producing machines and equipment (capital goods). The Communist and Soviet authorities paid far less attention to the production of consumer goods and to residential construction (it even seems that for years, the Soviet statistics simply didn’t count the new houses built by collective farmers, which were the majority of the houses in rural areas). As the official figures for total new residential construction consist of different components for different years, we decided not to use them at all. Instead, we chose three time-series: one for state organizations and establishments (it’s roughly comparable for all years) and two for the population, for workers and employees up to 1980, and for the total population beginning in 1980 (we hope that the trajectories of the latter two are similar).

Years

Source: title/archive and code

Page(s)

State organizations and establishmentsa and/or populationb

1946–1956

National Economy of the RSFSR in 1958. Moscow: Gosstatizdat, 1959

344

1957–1960

National Economy of the RSFSR in 1965. Moscow: Statistika, 1966

381

1961–1967

National Economy of the RSFSR in 1967. Moscow: Statistika, 1968

366

1968–1969

National Economy of the RSFSR in 1970. Moscow: Statistika, 1971

327

1970–1974

National Economy of the RSFSR in 1975. Moscow: Statistika, 1976

339

1975–1979

National Economy of the RSFSR in 1980. Moscow: Finansy i Statistika, 1981

230

1980–1984

National Economy of the RSFSR in 1985. Moscow: Finansy i Statistika,1986

246

1985–1990

National Economy of the RSFSR in 1990. Moscow: Resp. inf.-izd. Centr., 1991

203

1991–2016

Rosstat, supplement to RSY

  1. aIncluding nonagricultural cooperatives
  2. bWorkers and employees up to 1980

1.4 Railroad Freight Transportation

Railroad statistics for the RSFSR was openly published up to the mid-1930s and after 1958 with the more than a 20-year gap in between. We found almost all of the necessary information in unpublished documents stored in archives. Unfortunately, at the moment we still have three holes: 1934 and 1936–1937. It makes it impossible to say anything reasonable about the dynamics of railroad freight transportation during the second 5-year plan (1933–1937), but it’s enough to detect the contraction in 1933.

Years

Source: title/archive and code

Page(s)

1928–1931

Dynamic and geographical distribution of freight transportation in the USSR. 1928–1931. Moscow, TsUNHU SSSR, 1932

12–13

1932

Socialist construction of the USSR. Statistical yearbook. 1934. Moscow, Soyuzorguchet, 1934

263–264

1933

Socialist construction of the USSR. Statistical yearbook. 1935. Moscow, Soyuzorguchet, 1935

400–401

1934

Not available

 

1935

The USSR is a country of socialism. Statistical digest. 1936. Moscow, v/o Soyuzorguchet, 1936

188–189

1936–1937

Not available

 

1938–1939

RSEA 1884-61-82

37, 124

1940, 1945–1955

RSEA 1562-33-2515

31

1941–1944

RSEA 1562-33-3445

380

1956–1957

National Economy of the RSFSR in 1958. Moscow: Gosstatizdat, 1959

355

1958–1962

National Economy of the RSFSR in 1962. Moscow: Gosstatizdat, 1963

369

1963–1964

National Economy of the RSFSR in 1964. Moscow: Statistika, 1965

321

1965–1970

Transportation and communication in the USSR. Statistical digest. 1972

113

1971–1975

National Economy of the RSFSR in 1975. Moscow: Statistika, 1976

309

1976–1980

National Economy of the RSFSR in 1980. Moscow: Finansy i Statistika, 1981

193

1981–1985

National Economy of the RSFSR in 1985. Moscow: Finansy i Statistika, 1986

202

1986–1989

National Economy of the RSFSR in 1989. Moscow: Resp. inf.-izd. Centr., 1990

618

1990

Rosstat, CBSD

1991–2016

Rosstat, supplement to RSY

Rights and permissions

Reprints and permissions

Copyright information

© 2019 Springer International Publishing AG, part of Springer Nature

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Smirnov, S.V. (2019). Economic Fluctuations and Their Drivers in Russia. In: Smirnov, S., Ozyildirim, A., Picchetti, P. (eds) Business Cycles in BRICS. Societies and Political Orders in Transition. Springer, Cham. https://doi.org/10.1007/978-3-319-90017-9_6

Download citation

Publish with us

Policies and ethics