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Recent Russia research
|Russia: Geopolitical driver – negative turn, Christopher Granville, 15 Mar 2017|
|Russia: Jumbo tax reform, Christopher Granville, Madina Khrustaleva, 3 Mar 2017|
|Russia: More good news on the macro-policy front, Christopher Granville, Madina Khrustaleva, 8 Feb 2017|
|Russia: Pay attention to Kudrin, Christopher Granville, 31 Jan 2017|
|Russia-Saudi oil axis: Gain without pain, James Henderson, Christopher Granville, 19 Dec 2016|
See all our Russia research >>
How to understand Russia’s inventory cycle
With the Russian economy mired in recession during 2009, the inventory cycle attracted increasing attention – both as a powerful and hitherto underemphasized explanation of the slump and as a potentially strong driver of recovery. In our view, this is the wrong way to think about the present dynamic of inventories and their relation to economic growth. Instead, scrutiny of the inventory cycle highlights the probability of real growth falling short of consensus expectations in...