This paper examines the relationship between raw materials prices and economic growth through two channels, the terms of trade (ToT) and energy efficiency (EF), in three emerging Pacific Rim economies, Russia, Indonesia and Malaysia. We demonstrate positive relationships between changes in...

We present estimations of a Cobb-Douglas production function with a steady change in TFP (total factor productivity) for the Russian economy, using quarterly data for the favorable period 1998Q3–2008Q2 and the period 1995Q1–2010Q2 as well. Compiling our baseline data on capital and labor...