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Dirigist Traps in Implementation of the Federal Target Programs and Development Institutes

Author

Listed:
  • Alexander I. Borodin

    (State University of the Ministry of Finance of the Russia, Moscow, Russia)

  • Nataliya N. Kiselyova

    (North Caucasus Institute — Branch of the Russian Presidential Academy of National Economy and Public Administration, Pyatigorsk, Russia)

  • Nataliya N. Shash

    (State University of the Ministry of Finance of the Russia, Moscow, Russia)

Abstract

The article presents the experience of implementation of the Federal Target Programs within the territory of the North Caucuses Federal District and concludes that implementation of the dirigist model only does not ensure the desired result. It is proposed to focus the regional economic policy on development of the direct investment funds. Meanwhile, to take a region to the catching-up development curve requires a combination of the dirigist and institutional economic growth models.

Suggested Citation

  • Alexander I. Borodin & Nataliya N. Kiselyova & Nataliya N. Shash, 2012. "Dirigist Traps in Implementation of the Federal Target Programs and Development Institutes," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 5-16, April.
    • Handle: RePEc:fru:finjrn:120201:p:5-16
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    More about this item

    Keywords

    federal target programs; efficiency assessment; regional economic policy; dirigist growth model; institutional growth models; establishment of the development institutes; direct investment funds;
    All these keywords.

    JEL classification:

    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt

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