FDI | Inward FDI measured in constant 2010 US$ dollars, log | World Bank database |
GDP | Russia's GDP measured in constant 2010 US$ 2,010 dollars, log | |
BRE | BRENT crude oil price in dollars per barrel, log | United States Energy Information Administration |
RER | Real effective exchange rates as weighted averages of bilateral exchange with US$ dollar adjusted by relative consumer prices, measured as index, 2010 = 100, log | Bank for International Settlements |
OPN | Own elaboration based on values of GDP, Import and Export, measured in percentage points, log | World Bank database |
SAN | Own elaboration, dummy variable to account for the effect of Western sanctions on the economy of Russia, measured as 0 or 1 | Own elaboration |
TAX | Corporate income tax rate, measured in percentage points | Tax code of Russia |
LAB | Labour productivity, GDP per hour, measured in constant 2010 US$ dollars, log | OECD database |
GDP | 1 | ||||||
BRENT | 0.85 | 1 | |||||
RER | 0.75 | 0.87 | 1 | ||||
OPN | 0.92 | 0.78 | 0.76 | 1 | |||
SAN | 0.52 | 0.12 | 0.08 | 0.53 | 1 | ||
TAX | −0.89 | −0.71 | −0.63 | −0.82 | −0.40 | 1 | |
LAB | 0.73 | 0.87 | 0.79 | 0.94 | 0.50 | −0.88 | 1 |
1995, 1996, 1997, 1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017 |
GDP | 1,303.91 | 324.86 | 813.02 | 1,706.43 |
BRE | 54.06 | 33.48 | 12.76 | 111.57 |
RER | 81.56 | 16.57 | 48.09 | 106.67 |
OPN | 45% | 0.06 | 37% | 59% |
SAN | 0.14 | 0.34 | 0 | 1 |
TAX | 26% | 0.06 | 20% | 35% |
LAB | 86.01 | 16.64 | 63.26 | 107.63 |
GDP | 16.33 | 14.71 |
BRE | −1.08 | −1.24 |
RER | 1.70 | 1.84 |
LAB | −0.141 | −1.110 (0.072) |
OPN | −5.55 | −6.91 (5.599) |
SAN | −1.10 | −1.26 |
TAX | 8.48 | 6.20 |
Const | −103.97 | −94.01 |
Wald | 84.79 | |
Prob > | 0.000 | |
Durbin–Watson d-statistic | 1.72 | |
R2 | 0.88 | 0.89 |