Strategic View: why Forecasters were Wrong on Russian Growth for 2022 and 2023, and why they pr obably will be for 2024-Reference-Cited by-同舟云学术

Strategic View: why Forecasters were Wrong on Russian Growth for 2022 and 2023, and why they pr obably will be for 2024

Published:2024-02-09 Issue: Volume: Page:27-46
ISSN:2782-2435
Container-title:Strategizing: Theory and Practice
language:en
Short-container-title:

Author:

Sapir Jacques¹

Affiliation:

1. Center for the Study of Industrialization Modes

Abstract

With the start of Western sanctions against Russia at the end of February 2022, numerous catastrophic forecasts have been made about the Russian economy by both Western and some Russian economic institutions. However, neither for 2022 nor for 2023 were these predictions vindicated. Multiple errors can be traced to both technical difficulties associated with making serious forecasts in a rapidly changing situation, the nature of model used, and ideological or political bias. Even some Russian institutions demonstrated forecasting errors. The massive economic growth that started in Russia in the second quarter of 2023 obviously surprises economists. One wonders if such a situation will repeat it 2024.

Publisher

Kemerovo State University

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