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On some approaches of public administration to stimulating economic growth

Author

Listed:
  • Mikhail V. Ershov

    (Financial University under the Government of the Russian Federation)

  • Anna S. Tanasova

    (Financial University under the Government of the Russian Federation)

  • Elena Yu. Sokolova

    (Financial University under the Government of the Russian Federation)

Abstract

The article observes the mechanisms and levers of public administration aimed at stimulating economic growth in a fundamentally new environment, i.e. post-crisis recovery in the world and in Russia characterized by arrested economic development and constantly shrinking real income of households in the Russian Federation. The Russian economy also suffers from a decline in domestic demand. Under such conditions, the country pursues a restricting monetary and fiscal policy. The methodological framework of the study embraces the theoretical principles of strategic management and new public management. The authors apply a wide range of qualitative methods of analysis, as well as retrospective, structural-functional and system-based approaches. The paper analyses domestic demand in Russia and views it as an important object of public administration and one of the central factors in economic growth. The current level of domestic demand is insufficient and hampers economic growth. At the same time, external demand for Russian export goods may decrease due to the slowdown in global growth. In the event of severe destabilization, external risks in the financial markets may adversely affect the Russian economy. We conclude that it is highly necessary to increase the efficiency of internal factors as sources of economic growth in Russia through the active use of public management mechanisms. The paper discusses the measures of public administration employed by other countries to stimulate their economic growth amid similar conditions and finds that the Russian regulatory authorities have powerful, but yet unused, levers at their disposal. The research results may be useful for public authorities and institutions when implementing monetary and fiscal policy.

Suggested Citation

  • Mikhail V. Ershov & Anna S. Tanasova & Elena Yu. Sokolova, 2019. "On some approaches of public administration to stimulating economic growth," Upravlenets, Ural State University of Economics, vol. 10(5), pages 20-32, October.
    • Handle: RePEc:url:upravl:v:10:y:2019:i:5:p:20-32
    DOI: 10.29141/2218-5003-2019-10-5-3
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    References listed on IDEAS

    as
    1. Tom Christensen & Per Lægreid, 2001. "NEW PUBLIC MANAGEMENT: The effects of contractualism and devolution on political control," Public Management Review, Taylor & Francis Journals, vol. 3(1), pages 73-94, January.
    2. Ian Thynne, 2003. "Making sense of public management reform," Public Management Review, Taylor & Francis Journals, vol. 5(3), pages 449-459, September.
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    More about this item

    Keywords

    public administration; monetary policy; central banks; economic growth.;
    All these keywords.

    JEL classification:

    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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