ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Russian Economic Boom, Post-1998

The Russian economic growth in 1999-2004, entirely unexpected in 1998, is neither a statistical mirage nor a miracle. It is a recovery from depression, analogous to the recovery in the Soviet economy in the 1920s, combined with favourable world market prices for Russia's chief exports. Since recovery is inherently temporary and at diminishing rates, and commodity prices are notoriously fickle, the current boom is likely to be temporary, in the absence of further growth-inducing factors.

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