The Exchange Rate and Sectoral Competitiveness in the Russian Economy

A. Blank; E. Gurevich; A. Uliukaev

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The Exchange Rate and Sectoral Competitiveness in the Russian Economy

机译：俄罗斯经济中的汇率和行业竞争力

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Recent years have seen significant changes in the exchange rate. While in 1998 the real ruble exchange rate fell by almost half, at the beginning of 2006 it had returned almost to its precrisis level. Ruble appreciation was uneven over this time, in some years rising at a rate greater than 10 percent, while, on the other hand, falling in 2002.rnThe fundamental characteristics of the Russian economy and foreign economic conditions are the leading determinants of the exchange rate. Specifically, the observed behavior of the real exchange rate was largely due to fluctuating international commodity prices. Deviations in these prices from long-term averages in 1998-99 led to a decline in the domestic economy's foreign exchange earnings by 5-6 percent of gross domestic product (GDP), while in 2005 they increased by 14 percent of GDP.

机译：近年来，汇率发生了重大变化。 1998年卢布的实际汇率下降了近一半，而2006年初，卢布的汇率几乎恢复到了危机前的水平。卢布升值在这段时间内是不均衡的，在某些时候以每年超过10％的速度增长，而在2002年则下降。rn俄罗斯经济和外国经济状况的基本特征是汇率的主要决定因素。具体而言，观察到的实际汇率行为主要是由于国际大宗商品价格波动所致。这些价格与1998-99年的长期平均水平的差异导致国内经济的外汇收入下降了GDP的5％至6％，而2005年则增长了GDP的14％。

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来源
《Problems of Economic Transition》 |2007年第1期|27-52|共26页
作者
A. Blank; E. Gurevich; A. Uliukaev;
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Economic Expert Group;

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正文语种 eng
中图分类经济;
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The Exchange Rate and Sectoral Competitiveness in the Russian Economy

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