r industrial value added in Russia in year 2000 (WB adjusted weights), we can see that 49% of total industrial value added in Russia is dedicated to fuel. What shows on resource based growth of Russia. Brazil and Russia have very similar GVA, this is due to their similar economical development (low/high middle income countries).
3.2 Growth accounting
= F (A, K, L) Q = A В· K ? L (1 -? ) 0?? ? 1 g Y = g A + ? g K < span align = "justify"> + (1 - ?) g L
? (Capital share) for Russian Federation and Brazil is 0,35 and labor share is 0,65 calculations I will use time period from 2002 till 2008 due to lack in data. (Data in appendix)
3: Growth accounting (average 2002-2008)
Growth accounting (average 2002-2008) BrazilRussian FederationContribution of capital2, 0059107754,178386849 Contribution of labor0, 0233412720,004889742 Contribution of total factor productivity (technology) 1,955097482,606455718 largest contribution to growth in both countries had capital growth. 50,3% of all economic growth in Brazil is dedicated to growth of capital, only 0,6% to growth of labour and 49,1% to total factor productivity. In Russia 62,5% of total economic growth is dedicated to growth of capital, 0,1% to labour growth and 38% to total factor productivity (technology). The Brazilian growth is more technology driven than Russians, but they both still grow on capital accumulation.
3.3 Consumption side of GDP structure (expenditures)
= Household consumption + Gross investments + Government consumption + Net export (Export - Import) = C + I + G + NX
development economic export consumption
Graph 3: GDP structure in% by type of expenditures Russia (constant prices 2008)
В
Russian economy is mostly driven by household consumption (average 44,5%), which is growing form year 2004, when total convertibility of rule was introduced and Russia was declared as market economy and there was increase in wages and pensions too. The second most important growth driver is export (average 32,5% of GDP). Export importance in Russian s GDP is stable over time. With large share of expo...
