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Macroeconomic Preconditions of Realizationof a New Growth Model

Author

Listed:
  • S. Drobyshevsky
  • S. Sinelnikov-Murylev

Abstract

The model of the Russian economy that was formed in 2000s does not match a new stable growth path, though it helped to calmly overcome the crisis of 2008 and 2009. The state needs to provide stability in the fields being under its direct control: in the budget and monetary policy. In the budget policy we consider advantages and drawbacks of a New Budget Rule, which is based on long-term average price of oil. In the monetary sphere we vote for the policy of transition to inflation targeting and priority of low inflation against other goals of monetary authorities.

Suggested Citation

  • S. Drobyshevsky & S. Sinelnikov-Murylev, 2012. "Macroeconomic Preconditions of Realizationof a New Growth Model," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 9.
    • Handle: RePEc:nos:voprec:y:2012:id:745
    DOI: 10.32609/0042-8736-2012-9-4-24
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    Cited by:

    1. B. M. Mukhamediyev & L. S. Spankulova, 2022. "Mutual Influence of Innovation and Human Capital on Regional Growth in Neighboring Countries: The Case of Russia and Kazakhstan," Regional Research of Russia, Springer, vol. 12(3), pages 350-364, September.
    2. Georgy Idrisov & Sergey Sinelnikov-Murylev, 2013. "Budget Policy and Economic Growth," Working Papers 0076, Gaidar Institute for Economic Policy, revised 2013.

    More about this item

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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