2007•Studies on Russian Economic DevelopmentRequires access

Accumulation and consumption of fixed capital in Russia: An alternative estimate

Г. И. Ханин, Д. А. Фомин

Abstract

Official statistical figures of the availability and utilization of fixed capital in the Russian economy are reviewed. The reasons for unauthenticity of these figures are revealed. An alternative estimate of the macroeconomic indicators of capital consumption and accumulation is made based on a comparison of wear and tear and investment volumes. An estimate of the reproduction of fixed capital in 2001 is made by which the amount of consumption is much in excess of accumulation. The case is made for increasing investment in fixed capital and the scale of increase is calculated.

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Key concepts: Fixed investment, Fixed capital, Economics, Consumption (sociology), Investment (military), Capital (architecture), Fixed asset, Gross fixed capital formation