Russian Resource Endowment And Economic Growth Relations And The Empirical Research

For a long time,natural resources have been recognized by scholars as a booster for economic developments. While since 1960s and 1970s, many resource-rich countries failed to achieve sustained and rapid growth,even slower than countries facing resource scarcity. Thus the "resource curse" phenomenon came in being. Russia is the world's most resource-abundant country, exporting large quantilties of gas and petroleum.However,It growth of current stage is still relying too much on resource exports. People cannot help questioning whether Russia is also haunted by the curse.In this paper, we mainly studied the relations between Russia's resource advantages and its economic development, to identify the resource's role as a blessing or a curse.Firstly, based on relevant theories and data from the input& output table, the paper focused on the analysis of the mining and quarrying industry representing Russia's resource abundance to contribute to its development directly or indirectly. Meanwhile,the indirect contribution was divided into propelling power and driving power. The industry's contribution to the country's growth was analyzed from multiple angles.Subsequently, we further studied the balance relations within the input& output table and the industry's impacts on Russia's economy. This part has fully considered the foreign exchange revenue deriving from its resource product exports as a main driving force of its GDP, analyzing export's role and other industry's role of contribution to total GDP and GDP growth rate. The result showed that the mining and quarrying industry ranked the first among the 54 industries contributing to the country's aggregate economic volume and its growth.Since the resource abundance played such an important role in growth, is Russia haunted by the curse? The 3nd part adopted a classical testing model for resource curse based on panel data of 78 regions between 2003 and 2015. The result showed that Russia is facing resource curse on a regional basis, in other words, the resource abundance is negatively related to economic development.In the end, we gave some suggestions to get rid of the resource-relied economy and adjust its economic structure, and for sino-Russia economic cooperation.