Effect of high loan interest rates on the economic growth in the Russian Federation

Pavel V. Trunin1, Elena V. Sinelnikova-Muryleva1, Alexandra V. Bozhechkova1
1 Российская академия народного хозяйства и государственной службы при Президенте Российской Федерации

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Journal paper

Russian Journal of Entrepreneurship *
Volume 17, Number 10 (May 2016)
* Этот журнал не выпускается в Первом экономическом издательстве

Citation:

Trunin, P. V., Sinelnikova-Muryleva, E. V., & Bozhechkova, A. V. (2016). Effect of high loan interest rates on the economic growth in the Russian Federation. Russian Journal of Entrepreneurship, 17(10), 1213–1218. https://doi.org/10.18334/rp.17.10.35293

Abstract:
The article is devoted to the study of mechanisms and the level of effect of interest rates to the economic growth. Main theoretical approaches that explain influence channels of the nominal and the real interest rates on dynamics of the issue and its elements as well as results of the review of empirical studies for developed and developing countries. Country cases of Brazil, India, Turkey and Chili are analyzed, key reasons for the chance of coexistence of high interest rates and high economic growth rates are detected.

Keywords: economic growth, inflation, monetary policy, real interest rate, nominal interest rate, inflation expectations

JEL-classification: E52, O40, E31

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