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Russia’s fiscal stimulus and fiscal sustainability

https://doi.org/10.32609/0042-8736-2013-10-90-108

Abstract

This study examines the impact of public expenditure on economic growth in Russia. Fiscal multipliers for various items of government spending are calculated by means of our macroeconomic model of the Russian economy. Resources for fiscal stimulus and optimization are analyzed. In this study we assess Russia’s fiscal sustainability in conditions of various levels of oil prices. We conclude that fiscal stimulus is ineffective in Russia, while fiscal sustainability in conditions of a sharp drop in oil prices is relatively low.

About the Authors

N. Akindinova
Development Center Institute, National Research University Higher School of Economics (Moscow, Russia)
Russian Federation


N. Kondrashov
Development Center Institute, National Research University Higher School of Economics (Moscow, Russia)
Russian Federation


A. Cherniavsky
Development Center Institute, National Research University Higher School of Economics (Moscow, Russia)
Russian Federation


References

1. Sokolov A. A. (2012). Insider Control and SC “Olimpstroy” Investments // Naukovedenie. No 4.

2. Baum A., Poplawski-Ribeiro M., Weber A. (2012). Fiscal Multipliers and the State of the Economy // IMF Working Paper. No 12/286.

3. Blanchard O., Cottarelli C., Spilimbergo A., Symansky S. (2008). Fiscal Policy for the Crisis // IMF Staff Position Note. No SPN/08/01.

4. Schindler M., Spilimbergo A., Symansky S. (2009). Fiscal Multipliers // IMF Staff Position Note. No SPN/09/11.


Review

For citations:


Akindinova N., Kondrashov N., Cherniavsky A. Russia’s fiscal stimulus and fiscal sustainability. Voprosy Ekonomiki. 2013;(10):90-108. (In Russ.) https://doi.org/10.32609/0042-8736-2013-10-90-108

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ISSN 0042-8736 (Print)