Business Intelligence

Russian Growth Path And TFP Changes In Light Of The Estimation Of Production Function Using Quarterly Data

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Executive Summary

The authors present estimations of a Cobb-Douglas production function with a steady change in TFP (Total Factor Productivity) for the Russian economy, using quarterly data for the favorable period 1998Q3-2008Q2 and the period 1995Q1-2010Q2 as well. Compiling the baseline data on capital and labor adjusted for utilization, they explicitly present estimations of the coefficients (the capital distribution ratio and TFP) of production function, which show that TFP is the major growth source, followed by the capital contribution.

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