Published in «Russian Journal of Entrepreneurship»10 / 2016
DOI: 10.18334/rp.17.10.35293

Effect of high loan interest rates on the economic growth in the Russian Federation

Trunin Pavel V., Candidate of Science, Economics, Leading Researcher, the Russian Presidential Academy of National Economy and Public Administration, Russia

Sinelnikova-Muryleva Elena V., Candidate of Science, Economics, Associate Professor, Chair of Microeconomics, Faculty of Economics, the Russian Presidential Academy of National Economy and Public Administration, Russia

Bozhechkova Alexandra V., Candidate of Science, Economics, Senior Researcher, the Russian Presidential Academy of National Economy and Public Administration, Russia

Влияние высоких процентных ставок по заимствованиям на экономический рост в Российской Федерации - View in Russian

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Abstract:
The article is devoted to the study of mechanisms and the level of effect of interest rates to the economic growth. Main theoretical approaches that explain influence channels of the nominal and the real interest rates on dynamics of the issue and its elements as well as results of the review of empirical studies for developed and developing countries. Country cases of Brazil, India, Turkey and Chili are analyzed, key reasons for the chance of coexistence of high interest rates and high economic growth rates are detected.

Keywords:

economic growth, inflation, inflation expectations, monetary policy, nominal interest rate, real interest rate

JEL-Classification: E31, E52, O40

Citation:
Pavel V. Trunin, Elena V. Sinelnikova-Muryleva, Alexandra V. Bozhechkova (2016). Effect of high loan interest rates on the economic growth in the Russian Federation [Vliyanie vysokikh protsentnyh stavok po zaimstvovaniyam na ekonomicheskiy rost v Rossiyskoy Federatsii]. Russian Journal of Entrepreneurship, 17(10). (in Russian). – doi: 10.18334/rp.17.10.35293.


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