Nizozemska bolest: Istraživanje o Rusiji

The term "Dutch disease," also known as the "Groningen effect," was coined to explain the negative repercussions that might result from a sharp growth value in a country's currency. Commonly it is connected to a new discovery and/or exploitation of a rich natural resource vein, as well as the unexpected results that such a discovery might have on a country's entire economy. The following is the mechanism: Due to growing prices and/or volumes, large revenues from natural resource trade provide a balance of payments surplus, resulting in a significant appreciation of the national currency's real effective exchange rate. This makes local non-primary commodities noncompetitive. The Dutch disease is characterized by a loss of manufacturing competitiveness. Reducing the competitiveness of the price of produced items exported, and increased imports. Both of these events are the caused by an appreciation of the domestic currency. In the long run, when manufacturing jobs shift to nations with lower-costs, these factors may play a hand in raising unemployment. Non-resource-based industries, on the other hand, suffer as a result of the greater income created by resource-based industries. In Russia's instance, the country's issues have been aggravated by the country's transition from a planned to a market economy. The presence of "Dutch disease" in the Russian economy is suspected based on the behavior of many economic indicators. The indicators include a substantial upward trend in the ruble's real effective exchange rate, as well as a consistently positive capital account. Russia continues to be a key global oil supplier, accounting for 13% of the worldwide market. Russian exports currently account for around 30% of GDP, with raw material exports accounting for 90% of the total value of goods exported. Only two items account for two-thirds of these raw materials: oil (and its derivatives) and natural gas, which gives in to the potential presence of the „Dutch Disease” in the country, given the large part the two goods have in their economy