TY  - JOUR
TI  - On Dynamics of Fixed Capital and Investments in the Russian Economy in Transition
T2  - HSE Economic Journal 
IS  - HSE Economic Journal 
KW  - investments
KW  - fixed capital
KW  - economy in transition
AB  - The paper is devoted to the analysis of dynamic behavior of fixed assets and investments in fixed capital in the Russian economy in transition. It was shown, that the official Rosstat technique implementation of fixed assets and investments measurements may lead to the substantial understatement of fixed assets renovation and replacement rates. The depth of the decline in investment spending during the transition period might become overstated. The bias may be explained by severe difficulties in measurement of price dynamics and capital replacements in first years of transition.Alternative estimations of indices of physical volume of fixed assets and investments in fixed capital by 15 main industries and branches of industry in 1991-2003 were obtained. Industry-specific features of investment and fixed assets dynamics were discussed. Taking into account the alternative estimations of fixed assets and investments, conventional approaches to the investment behavior and capital stock dynamics explanations in the Russian economy in transition need to be revised.
AU  - Vladimir Bessonov
AU  - Ilya Voskoboynikov
UR  - https://ej.hse.ru/en/2006-10-2/26547305.html
PY  - 2006
SP  - 193-228
VL  - 10