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Budget Policy and Economic Growth

Author

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  • Georgy Idrisov

    (Gaidar Institute for Economic Policy)

  • Sergey Sinelnikov-Murylev

    (Gaidar Institute for Economic Policy)

Abstract

This article examines the relationship between government budgetary policy and the pursuit of accelerated economic growth. The authors review the academic debate over long-term economic growth and associated short-term fluctuations and conclude that Russian budgetary intended to smooth fluctuations in economic activity are of limited effect and that there are no opportunities for increasing public expenditure in the medium and long-term. For these reasons, the structure of expenditures must be changed and budgetary institutions must be transformed with a view to creating the preconditions for economic growth in the long-term.

Suggested Citation

  • Georgy Idrisov & Sergey Sinelnikov-Murylev, 2013. "Budget Policy and Economic Growth," Working Papers 0076, Gaidar Institute for Economic Policy, revised 2013.
    • Handle: RePEc:gai:wpaper:0076
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    References listed on IDEAS

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    Cited by:

    1. V. Mau, 2016. "Anti-crisis measures or structural reforms: Russia’s economic policy in 2015," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 2.
    2. Georgy Idrisov & Sergey Sinelnikov-Murylev, 2014. "Forming Sources for a Long-run Growth: How to Understand Them?," Working Papers 0096, Gaidar Institute for Economic Policy, revised 2014.
    3. I. A. Sokolov & S. G. Belev & O. V. Suchkova, 2021. "How to Ensure Fiscal Sustainability in Russia," Studies on Russian Economic Development, Springer, vol. 32(4), pages 383-390, July.
    4. Kudrin, Alexey & Sokolov, Ilya, 2017. "Fiscal maneuver and restructuring of the Russian economy," Russian Journal of Economics, Elsevier, vol. 3(3), pages 221-239.
    5. E. Goryunov & L. Kotlikoff & S. Sinelnikov-Murylev, 2015. "Fiscal Gap: an Estimate for Russia," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 7.
    6. Kirill L. Astapov & Rasul А. Musaev & Anton A. Malakhov, 2020. "Evaluating the Effectiveness of the Budget Expenditure Policy," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 9-24, December.
    7. Mau, Vladimir & Ulyukaev, Alexey, 2015. "Global crisis and challenges for Russian economic development," Russian Journal of Economics, Elsevier, vol. 1(1), pages 4-29.
    8. Kudrin, Alexey & Sokolov, Ilya, 2017. "Fiscal maneuver and restructuring of the Russian economy," Russian Journal of Economics, Elsevier, vol. 3(3), pages 221-239.

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    More about this item

    Keywords

    economic growth; budgetary policy; government expenditure.;
    All these keywords.

    JEL classification:

    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • H5 - Public Economics - - National Government Expenditures and Related Policies

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