Comment by jaredklewis

8 months ago

Does entrepreneurship flourish in Russia? This would surprise me just because its GDP is smaller than Italy's, and around 17% of it is oil and gas. CAGR for past 10 years in Russia is ~1.5% (compared with ~2.3% for the US).

Just seems logical to me that if entrepreneurship was flourishing, we would see more economic growth as a result.

8 comments

jaredklewis

Reply
fp64  8 months ago

You can’t take the GDP in US$ for comparison, given the sanctions and all. PPP is a better means.

I do not know about entrepreneurship, but I do know that a Russian’s average purchase power is significantly higher than what you might expect from just looking at the GDP

  • jaredklewis  8 months ago

    It might be true that we can’t compare gdp between Russia and other countries, but even if so, wouldn’t we see a growth in GDP over time (ie comparing Russia to itself)?

tonyhart7  8 months ago

"This would surprise me just because its GDP is smaller than Italy's"

GDP to US dollar is only works IF your export and import is only traded with US dollar which doesn't to be the case since Russia is trade with Brics partner that bypass all sanction and not using US dollar

fpoling  8 months ago

Russia has been spending all gains in economy on military for the last 15 years. Ability of local businessmen to quickly find new trading partners in Asia is one of the primary reasons Russian economy did not collapsed under suctions and the war.

  • flakeoil  8 months ago

    It's thanks to oil, gas and minerals exports they have managed to keep the russian economy going. Not thanks to entrepreneurship or some russian made products. They also stole a lot of western companies and their assets.