Latest Articles from Russian Journal of Economics Latest 2 Articles from Russian Journal of Economics https://rujec.org/ Thu, 28 Mar 2024 23:45:02 +0200 Pensoft FeedCreator https://rujec.org/i/logo.jpg Latest Articles from Russian Journal of Economics https://rujec.org/ Russian budget structure efficiency: Empirical study https://rujec.org/article/30163/ Russian Journal of Economics 4(3): 197-214

DOI: 10.3897/j.ruje.4.30163

Authors: Alexey Kudrin, Alexander Knobel

Abstract: This paper investigates the economic efficiency of Russian public expenditures in 2002–2016 by estimation of their multiplicative impact on the GDP level and economic growth. We use the empirical methodology based on Corsetti et al. (2012). We estimate a number of fiscal multipliers: on national security, law-enforcement activity, national defense, education, health care and sport and road infrastructure. For assessing the influence of budget structure on long-term economic growth rates, we estimate the SVAR model in which GDP growth is a structural variable. The research shows a positive influence of budgetary resources redistribution from non-productive government expenditures to productive ones on economic development.

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Research Article Tue, 9 Oct 2018 08:28:18 +0300
Fiscal maneuver and restructuring of the Russian economy https://rujec.org/article/27990/ Russian Journal of Economics 3(3): 221-239

DOI: 10.1016/j.ruje.2017.09.001

Authors: Alexey Kudrin, Ilya Sokolov

Abstract: The paper discusses fiscal policy parameters through 2024. The suggested way to ensure long-term fiscal stability is stabilizing both the general government revenues and expenditures as percentages of GDP at levels differing by the public debt service payments and then applying a new version of the fiscal rule. The redistribution of fiscal spending from unproductive to productive areas (primarily investment in human and physical capital) is considered to boost economic growth. The possible use of additional spending on education, public health, and transport systems is presented, as is the optimization of expenditures in nonproductive areas.

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Research Article Thu, 31 Aug 2017 00:00:00 +0300