Analysis of money supply, exchange rate and interest rate impact on Russian economy development in the period of economical reforms

In this paper we pay main attention to the impact of money supply, exchange rate and interest rate on GDP, industry output and inflation in Russian economy in the period of 1994-2002. The results of the research showed statistically significant dependence of inflation, nominal GDP and nominal industry output from money supply, interest rate and Rub/^S exchange rate. For real GDP and real industry output the dependence from money supply, interest rate and Rub/^S exchange rate variation is much lower.