”RUSSIAN DISEASE” AS A STAGE OF THE EVOLUTION OF THE GRONINGEN EFFECT

Abstract

The article describes the “symptoms” and the methods of unfolding of the “Dutch disease”. Transitioning of Russia’s “Dutch disease” to a more acute form is viewed as a cyclical process predetermined by both an excessive strengthening of Rouble and by wide gaps in profitability between natural resource complex and other industries. The article also explains the meaning of the so-called “Russian disease” as well as the drivers of its spreading through Russia’s economy. The author argues that an acceleration of Russia’s GDP growth is not possible under the narrow framework of the natural resource extraction economic model which justifies in author’s view a need for transition from the resource economy to an economy based on science and technology development.