Andrei Kaukin Took Part in the Meeting of the FBK Economic Club

On March 19, 2019, Andrei Kaukin, Head of the Sectorial Markets and Infrastructure Department, the Gaidar Institute took part in the meeting of the FBK Economic Club.  
Experts discussed the issues related to the dynamics of investments in capital assets in Russia, as well as the prospects of investments gaining the share of 25% to GDP; this goal was set by the head of the state in his address to the Federal Assembly.

Igor Nikolayev, Director of the FBK Institute for Strategic Analysis opened the debates by delivering the “Investments as a Source of Economic Growth” analytical report, in which the dynamics of capital investments starting from 1990 were presented. At present, the volume of investments is 26% lower than in 1990.  

In his speech, Andrei Kaukin pointed out that apart from the numerical estimate of the correlation between investments and economic growth, it is important to understand the mechanisms of the effect of the former on the latter. Apart from the direct contribution of investments into growth in capital assets and, consequently, the economy as a whole, they may have an effect on the dynamics of the total factor productivity. According to the expert, there are three channels of such influence:  making of investments (particularly direct investments) into the transfer of technologies, boosting of the human capital required for adaptation of such technologies on the domestic market, as well as promotion of the efficiency of allocation of resources (private investments are more effective than the state ones).