The Impact Of Energy Resources On Social
Development In Russia
Author(s)
N. Didenko & D. Skripnuk
Abstract
Various countries are endowed with energy resources differently. It is supposed
that the availability of energy resources is a sign of a nation's wealth. However,
countries that are richly endowed with energy resources can actually differ
significantly from each other in living standards. It is interesting to know how
the production and export of energy resources impact on the social sphere of
developing countries. There is an existing interest in investigating this problem
because of the importance of the production and export of energy resources, for
maintaining the standard of living of a population.
This article analyzes the impact of the production and export of energy
resource, namely of oil on the social sphere in Russia. The Russian fuel and
energy sector accounts for about 30% of industrial output, for 32% of
consolidated revenues, for 54% of the federal budget, for 54% of exports and for
45% of foreign exchange earnings in Russia. Social services are estimated by
the following indicators: the index of Gini, the average wage in the country and
the population's savings. The main advantage of using the Gini coefficient is that
it measures inequality. Wage also performs important functions; the motivation
of employees and providing a living wage. The savings of the population are at
the crossroads of interests for citizens and the state. Based on data from 1990 to
2012 on the dynamics of oil production in Russia, the dynamics of oil exports
from Russia and the dynamics of the social sphere in Russia are analyzed using
the production model. Estimation of the coefficients and their significance has
been assessed using statistical methods. By taking the logarithm of the
production function; three multiple regression equations that represent the
models of the economic processes for the Gini coefficient, average wage and
savings were obtained. According to the results of econometric analysis,
Energy Production and Management in the 21st Century, Vol. 1 151
www.witpress.com, ISSN 1743-3541 (on-line)
WIT Transactions on Ecology and The Environment, Vol 190, © 2014 WIT Press
doi:10.2495/EQ140161
conclusions about the significance of production, exports and the prices of oil for
the development of the social sphere are made.
Keywords: the Gini coefficient, the average wage, the population's savings, oil
production in Russia, oil exports from Russia, oil price.
Keywords
the Gini coefficient, the average wage, the population's savings, oilproduction in Russia, oil exports from Russia, oil price.
Related Book
Other papers in this volume
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