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Russian per-capita GDP rises from 19.6% to 55.2% of U.S., Hanno Lustig notes
Hanno Lustig raises the question of a Russian growth miracle by comparing Russia's recent economic performance to that of the U.S. He highlights that, using Krugman's logic, Russia is quickly catching up with the U.S. in terms of living standards.
According to Lustig, at purchasing power parity and current prices, Russian GDP per capita stands at $47,405, similar to countries like Portugal and Slovenia. He also notes that Russia's per-capita GDP has risen from 19.6% to 55.2% of the U.S. benchmark.
Lustig has previously discussed low interest rate policies and financial repression in Japan and globally. He has also raised questions about central bank independence in the Eurozone. His comments on Russia’s economic trajectory follow earlier analyses of policy challenges in other major economies.
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