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This paper examines the development of economic relations between Russia and China in recent years, focusing on how the slowdown in China's growth and changes in its economic structures might impact Russia's economic outlook and the future of China-Russia economic relations. Economic relations between the countries have progressed favorably over the past decade with increased trade and Russian oil exports to China buoying Russian economic growth. While this trade cooperation has served both countries' interests, it has also reinforced Russia's dependence on commodity exports. Like the rest of the world, Russia has to deal with China's slowing economic growth. Those repercussions, however, are particularly challenging in Russia's case. [ABSTRACT FROM AUTHOR]

In this paper we estimate whether monetary policy rules of Bank of Russia have changed during the recent past. Russia has moved towards inflation targeting throughout past years, and this is reflected in our empirical estimations. We start by estimating various monetary policy rules for Russia, concluding that a variant of Taylor rule depicts Bank of Russia's monetary policy quite well during the past decade or so. Moreover, there clearly have been two breaks in the coefficients of the estimated monetary policy rule, possibly signifying shift towards traditional inflation targeting, but also the current recent economic turbulence. [ABSTRACT FROM AUTHOR]

We estimate several monetary policy rules for Russia for the period 2003-2015. We find that the traditional Taylor rule describes the conduct of monetary policy in Russia reasonably well, whether coefficients are restricted to being the same or allowed to change over the sample period. We find that the Bank of Russia often overshot its inflation target and that extensive overshooting is associated with large depreciations of the ruble, testifying to the importance of the exchange rate in the conduct of monetary policy in Russia. [ABSTRACT FROM AUTHOR]