BOFIT Discussion Papers, Institute for Economies in Transition, Bank of Finland
No 7/2007:
Diagnosing Dutch disease: Does Russia have the symptoms?
Nienke Oomes ()
and Katerina Kalcheva
Abstract: In this paper, we assess whether recent economic
developments in Russia are symptomatic of Dutch Disease. We first provide a
brief review of the literature on Dutch Disease and the natural resource
curse. We then discuss the symptoms of Dutch Disease, which include (1)
real exchange rate appreciation; (2) slower manufacturing growth; (3)
faster service sector growth; and (4) higher overall wages. We test these
predictions for Russia while carefully controlling for other factors that
could have led to similar symptoms. We con-clude that, while Russia has all
of the symptoms, the diagnosis of Dutch Disease remains to be confirmed.
Keywords: Dutch disease; real exchange rate; resource curse; Russia; oil; transition; (follow links to similar papers)
JEL-Codes: F30; P28; Q30; (follow links to similar papers)
43 pages, April 20, 2007
Before downloading any of the electronic versions below
you should read our statement on
copyright.
Download GhostScript
for viewing Postscript files and the
Acrobat Reader for viewing and printing pdf files.
Full text versions of the paper:
dp0707.pdf 
Download Statistics
Questions (including download problems) about the papers in this series should be directed to Päivi Määttä ()
Report other problems with accessing this service to Sune Karlsson ()
or Helena Lundin ().
Programing by
Design by Joachim Ekebom
