Edward Molendowski, Anna Gapys, The role of the gas sector in the economy of the Russian Federation before and after the 2008 crisis

The article presents the results of an analysis of the impact of the gas sector, including of profits from gas exports, on the economic performance of the Russian Federation in 2000-2016. The period covers the so-called ‘golden years’ 2000-2007 of staggering gas prices; the 2008 crisis and the following years of slow recovery. The analysis was based on the hypothesis that the manner of income redistribution in Russia did not translate into sustainable social growth. In the conclusion part, the Authors attempted to verify the effectiveness of the export-led growth (ELG) strategy as exemplified by the Russian Federation.