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Empirical Analysis of Kaleckian Growth Model on the Data of the Russian Economy

Student: Valerii Kreshchenskii

Supervisor: Ivan V. Rozmainsky

Faculty: St.Petersburg School of Economics and Management

Educational Programme: Economics (Bachelor)

Year of Graduation: 2020

The “Empirical Analysis of the Kaleckian Model of Growth on the Russian Economy Data” is the first attempt to use the post-Kaleckian Bhaduri-Marglin model on Russian data to analyze the importance of income redistribution among the population and the impact that this has on the country's economic growth. It is worth noting that the number of studies in this direction is certainly growing, however, all of them have been carried out for countries of southern and northern America, Europe and countries of southern Africa. The countries of the CIS and Asia, with the exception of China, have not been explored. The purpose of this study: a) is to identify the type of demand that dominates the country: driven by wages or profits; b) assessment of the relationship and influence of the type of aggregate demand and productivity on each other. The results of this study showed that Russia belongs to the type of countries in which the demand for guided wages predominates. It was also revealed that export growth does not depend much on the growth of global trading and investment growth does not depend on the growth of the share of profits, according to theory.

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