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Fiscal policy as a source of economic growth

Author

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  • A. Kudrin
  • A. Knobel

Abstract

We investigate mechanisms of budget expenditures structure influence on economic development. General government fiscal multiplier in various functional directions is estimated. We show that productive expenses in general have bigger multiplicative effect on GDP, than unproductive ones. By means of multiplicative effects models estimation for various functional items we calculate potential effect on economic growth of the budget maneuver in favor of productive expenses and the implemented effect of the recent years budget expenditures structure change. We show that resources redistribution from non-productive expenses to productive ones could increase long-term rates of economic growth approximately by 0,8 p. p. per year. On the contrary, the budget expenditures structure change observed during 2011-2017 has a negative impact on average annual rates of economic growth about 0,3 p. p. per year.

Suggested Citation

  • A. Kudrin & A. Knobel, 2017. "Fiscal policy as a source of economic growth," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 10.
    • Handle: RePEc:nos:voprec:y:2017:id:347
    DOI: 10.32609/0042-8736-2017-10-5-26
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    Cited by:

    1. Olesya V. Polyakova, 2023. "Эффективность Фискальной Политики В Разных Условиях Функционирования Экономики," Russian Economic Development (in Russian), Gaidar Institute for Economic Policy, issue 10, pages 45-52, October.
    2. Skrypnik, D., 2024. "Infrastructure and economic growth in the context of the evolutionary theory of economic policy," Journal of the New Economic Association, New Economic Association, vol. 62(1), pages 117-142.
    3. Olesya V. Polyakova, 2023. "Effectiveness of Fiscal Policy in Different Economic Conditions [Эффективность Фискальной Политики В Разных Условиях Функционирования Экономики]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 10, pages 45-52, October.
    4. Sergei G. Belev & Evgenii O. Matveev, 2024. "The Consequences of Tax Changes: The Evidence on Tax Multiplier in Russia," Journal of Tax Reform, Graduate School of Economics and Management, Ural Federal University, vol. 10(1), pages 51-62.

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