Cyclical Fluctuations of Industrial Output in US and Russia: Why are they Different

Abstract

The article demonstrates that cyclical fluctuation of industrial outputs (consumer products, equipments, materials and supplies) have important, specific features in Russian and US’s economies. The result allows to better understand the formation of business cycles of national economies within their structural peculiarity. Based on statistical analysis of physical industrial output (for Russia relevant indexes were specially calculated by the author) one can conclude that in Russia the dynamics of industrial production are dependent not so much on demand but rather on supply of products. This is explained through weak diversification of Russian economy as well as its high monopolization and exceptional role of imports in consumer and investment expenditures.