The group was formed in July 2019 at the Laboratory for Research in Inflation and Growth of the Expert Institute at HSE University (Moscow). The group performs empirical research on long-term economic growth and productivity. It also researches structural change and cross-sectoral linkages, cross-country comparisons of income and wealth, the micro-foundations of productivity growth, the problems of productivity measurement, and historical statistics.
The major objective of the group is to update and extend the Russia KLEMS database, which has been supported by HSE University since 2007 as a participant of the World KLEMS initiative.
Anton Tolokonnikov presented his research on "Industrial Policy and Intersectoral Interactions in the Russian Economy". The paper examines the role of state policy in the Russian economy. The state, trying to eliminate market failures with its policies, often worsens resource allocation and harms the economy. However, government policies can have a positive effect on resource allocation, for example, by subsidizing some businesses and industries. How to stimulate economic growth by changing the sectoral structure of subsidies? The study assessed public policy for the Russian economy as a whole, and not for individual firms.
Ksenia Bobyleva's study is the first to compare the contribution of various types of intangible assets to the growth of the Russian economy and the economies of OECD countries.In Russia and the OECD, the contribution of R&D is higher in the manufacturing sector compared to market services. Intangible assets not related to R&D (for example, organizational capital, advertising) dominate in the services sector.In contrast to OECD economies, in the Russian economy, the contribution of intangible assets in market services is significantly higher than in the manufacturing sector. The contribution of intangible assets of market services to the aggregate growth of intangible assets in Russia is 0.19 p.p., which is six times higher than their contribution in manufacturing. In the OECD, this difference is not so noticeable.
His report, "Why do the economy, business, workers, and society need productivity growth?", focuses on the slowdown in global productivity growth over the past 15 years, reasons for the slowdown, and measures that could revive it. Bart van Ark says to do this, the economy must become more receptive to innovation, which requires a coordinated effort from business, government, and individual workers. There is also a need for a better understanding of the extent to which, and how, productivity growth contributes to people’s welfare.