Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/333956 
Authors: 
Year of Publication: 
2025
Series/Report no.: 
BOFIT Policy Brief No. 19/2025
Publisher: 
Bank of Finland, Bank of Finland Institute for Emerging Economies (BOFIT), Helsinki
Abstract: 
Applying the most recent international input-output tables, we examine potential short-term effects of various demand shocks on the Russian economy. Our analysis suggests that a reduction of 1 % in Chinese final demand results in a 0.1 % decline in Russian GDP. Similarly, a 10 % contraction in Russian oil production causes a a GDP decline of 1.6 %, while a contraction in oil refining activity leads to a GDP drop of 0.8 %. We also illustrate that Russia could achieve higher growth by reallocating public spending to non-military purposes, but maintaining military capability is a political priority for Russia's regime.
Subjects: 
Russia
China
oil
input-output
Persistent Identifier of the first edition: 
Document Type: 
Research Report

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