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"Deflation of investments and dynamics of fixed capital in Russia and assessment of the contribution of ICT and intangible assets to long-term economic growth" report by Ksenia Bobyleva at the XXIII YAMNC HSE

Within the framework of the XXIII Yasin International Scientific Conference on Problems of Economic and Social Development, session A-5-4 will be held. Measuring economic growth at which Ksenia Bobyleva made a report "Deflation of investments and dynamics of fixed capital in Russia and assessment of the contribution of ICT and intangible assets to long-term economic growth".

Investments in information and communication capital and intangible assets are a significant growth factor in the "knowledge economy". This work is devoted to clarifying the contribution of these assets to the growth of the Russian economy using Russia KLEMS industry data. At the same time, accounting the contribution of ICT and intangible assets as a factor in growth is a difficult task (Schreyer 2009). Taking into account the role of investment deflators in the overall dynamics of fixed capital (Bessonov, Voskoboinikov 2006) and in its individual types when assessing the dynamics of capital services (Voskoboynikov, Timmer 2014), we can assume that, the dynamics of prices for the relevant assets is the most an essential element in accounting the contribution of ICT capital and intangible assets to growth. Taking into account the results in the extensive literature for developed countries, an important element in the deflation of ICT capital is the constant quality effect (Wyckoff, 1995), which has not yet been introduced into Russian official statistics, although it is presented in separate studies (Turuntseva M.Yu., Zyamalov V .E., 2020).