photo: Gennady Cherkasov
Nobel prize 2010, Christopher Pissarides in an interview with Bloomberg put the “diagnosis” of the Russian economy. According to him, Russia follows the path of Japan, whose economy stagnated in recent years.
The Nobel laureate believes that Russia is behaving like a third world country which produces the raw material, sells it, and the proceeds spent on the purchase of goods abroad. “It’s tempting. If wealth is already here, ready, then why expend the effort? Take it, sell it, get the money,” said Pissarides.
In April, Cypriot economist Christopher Pissarides, speaking at a conference in St. Petersburg, said that Russia should forget about the oil to return to GDP growth. He stated that all the countries-oil producers are faced with the problem of economic growth is the “family curse” raw States. These include Venezuela, Saudi Arabia, Nigeria, and Russia.
Pissarides became Nobel prize winner in Economics in 2010. Award he shared with Americans Peter diamond and Dale Mortensen. The prize was awarded for “analysis of markets with the “rough search”, says RBC.Related posts: