IDEAS home Printed from https://ideas.repec.org/a/aiy/jnjaer/v21y2022i1p21-48.html
   My bibliography  Save this article

Inclusive economic growth through employment and income: Experience of the Russian Federation

Author

Listed:
  • Olga V. Zabelina
  • Maria V. Sergeeva

Abstract

The COVID-19 pandemic has affected all areas of society. Among the most tangible consequences of the “coronacrisis” in Russia, one can single out a decrease in the number of employed people and a drop in incomes of the population in 2020. The high speed of the spread of the coronavirus has determined the need for the introduction of prompt measures to combat COVID-19, as well as supportive measures for both the population and businesses. Despite the scale and breadth of the measures of state support implemented in 2020, the question of methods for assessing their effectiveness is acute. The purpose of the study is to assess the inclusiveness of economic growth in the Russian Federation in the context of COVID-19 in the areas of state support for employment and income of the population. The following hypotheses are being tested: 1) the inclusiveness of economic growth in terms of employment and income of the population has decreased in the context of the COVID-19 pandemic; 2) measures of state support for employment and incomes of the population made it possible to mitigate the drop in the value of the inclusiveness of economic growth. A new approach to analyze the effectiveness of public policy measures is suggested, on the basis of the author's dynamic approach to assessing the inclusiveness of economic growth. The proposed methodological approach is being tested for the case of analysis of the effect of state support measures in Russia in the context of the COVID-19 pandemic on employment and incomes of the population. The increase in state welfare funding in 2020 compared to the modeled value made it possible to reduce the level of decline in the inclusiveness of economic growth (by 0.16 points), as a result of which this indicator in the areas of employment and income of the population decreased in 2020 by only 0.11 points. The results indicate relative effectiveness of the support measures adopted by the government that showed in mitigating the pandemic-induced fall in the inclusiveness of economic growth in 2020. The hypotheses under study were confirmed. The practical significance of this study lies in the proposal of a new dynamic approach to assessing the inclusiveness of economic growth, which can be used as a tool for assessing the effectiveness of the state policy pursued both at the federal and regional levels.

Suggested Citation

  • Olga V. Zabelina & Maria V. Sergeeva, 2022. "Inclusive economic growth through employment and income: Experience of the Russian Federation," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 21(1), pages 21-48.
    • Handle: RePEc:aiy:jnjaer:v:21:y:2022:i:1:p:21-48
    DOI: http://dx.doi.org/10.15826/vestnik.2022.21.1.002
    as

    Download full text from publisher

    File URL: https://journalaer.ru//fileadmin/user_upload/site_15934/2022/02_Zabelina_Sergeeva.pdf
    Download Restriction: no
    File URL: https://libkey.io/http://dx.doi.org/10.15826/vestnik.2022.21.1.002?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Sugiawan, Yogi & Kurniawan, Robi & Managi, Shunsuke, 2019. "Are carbon dioxide emission reductions compatible with sustainable well-being?," Applied Energy, Elsevier, vol. 242(C), pages 1-11.
    2. Elias Carayannis & Evangelos Grigoroudis, 2016. "Quadruple Innovation Helix and Smart Specialization: Knowledge Production and National Competitiveness," Foresight-Russia Форсайт, CyberLeninka;Федеральное государственное автономное образовательное учреждение высшего образования «Национальный исследовательский университет «Высшая школа экономики», vol. 10(1 (eng)), pages 31-42.
    3. Collins, Ross D. & Selin, Noelle E. & de Weck, Olivier L. & Clark, William C., 2017. "Using inclusive wealth for policy evaluation: Application to electricity infrastructure planning in oil-exporting countries," Scholarly Articles 32696191, Harvard Kennedy School of Government.
    4. Arrow, Kenneth J. & Dasgupta, Partha & Goulder, Lawrence H. & Mumford, Kevin J. & Oleson, Kirsten, 2012. "Sustainability and the measurement of wealth," Environment and Development Economics, Cambridge University Press, vol. 17(3), pages 317-353, June.
    5. Raquel Almeida Ramos & Rafael Ranieri & Jan-Willem Lammes, 2013. "Mapping Inclusive Growth," Working Papers 105, International Policy Centre for Inclusive Growth.
    6. Elias Carayannis & Evangelos Grigoroudis, 2016. "Quadruple Innovation Helix and Smart Specialization: Knowledge Production and National Competitiveness," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 10(1), pages 31-42.
    7. Bhuyan, Biswabhusan & Sahoo, Bimal Kishore & Suar, Damodar, 2020. "Nutritional status, poverty, and relative deprivation among socio-economic and gender groups in India: Is the growth inclusive?," World Development Perspectives, Elsevier, vol. 18(C).
    8. Collins, Ross D. & Selin, Noelle E. & de Weck, Olivier L. & Clark, William C., 2017. "Using inclusive wealth for policy evaluation: Application to electricity infrastructure planning in oil-exporting countries," Ecological Economics, Elsevier, vol. 133(C), pages 23-34.
    9. Kevin J. Mumford, 2016. "Prosperity, Sustainability and the Measurement of Wealth," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 3(2), pages 226-234, May.
    10. Jeyacheya, Julia & Hampton, Mark P., 2020. "Wishful thinking or wise policy? Theorising tourism-led inclusive growth: Supply chains and host communities," World Development, Elsevier, vol. 131(C).
    11. Amponsah, Mary & Agbola, Frank W. & Mahmood, Amir, 2021. "The impact of informality on inclusive growth in Sub-Saharan Africa: Does financial inclusion matter?," Journal of Policy Modeling, Elsevier, vol. 43(6), pages 1259-1286.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sugiawan, Yogi & Kurniawan, Robi & Managi, Shunsuke, 2019. "Are carbon dioxide emission reductions compatible with sustainable well-being?," Applied Energy, Elsevier, vol. 242(C), pages 1-11.
    2. Koji Tokimatsu & Louis Dupuy & Nick Hanley, 2019. "Using Genuine Savings for Climate Policy Evaluation with an Integrated Assessment Model," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 72(1), pages 281-307, January.
    3. Yamaguchi, Rintaro, 2020. "Available capital, utilized capital, and shadow prices in inclusive wealth accounting," Ecological Economics, Elsevier, vol. 169(C).
    4. Yagi, Michiyuki & Managi, Shunsuke, 2018. "Shadow price of patent stock as knowledge stock: Time and country heterogeneity," Economic Analysis and Policy, Elsevier, vol. 60(C), pages 43-61.
    5. Rintaro Yamaguchi & Moinul Islam & Shunsuke Managi, 2019. "Inclusive wealth in the twenty-first century: a summary and further discussion of Inclusive Wealth Report 2018," Letters in Spatial and Resource Sciences, Springer, vol. 12(2), pages 101-111, August.
    6. Aly, Ebrahim A. & Managi, Shunsuke, 2018. "Energy infrastructure and their impacts on societies’ capital assets: A hybrid simulation approach to inclusive wealth," Energy Policy, Elsevier, vol. 121(C), pages 1-12.
    7. Yamaguchi, Rintaro & Managi, Shunsuke, 2019. "Backward- and Forward-looking Shadow Prices in Inclusive Wealth Accounting: An Example of Renewable Energy Capital," Ecological Economics, Elsevier, vol. 156(C), pages 337-349.
    8. Tatyana Tolstykh & Leyla Gamidullaeva & Nadezhda Shmeleva, 2021. "Universities as Knowledge Integrators and Cross-Industry Ecosystems: Self-Organizational Perspective," SAGE Open, , vol. 11(1), pages 21582440209, February.
    9. Alberto Bettanti & Antonella Lanati & Alessandro Missoni, 2022. "Biopharmaceutical innovation ecosystems: a stakeholder model and the case of Lombardy," The Journal of Technology Transfer, Springer, vol. 47(6), pages 1948-1973, December.
    10. Daminda Sumanapala & Isabelle D. Wolf, 2022. "Introducing Geotourism to Diversify the Visitor Experience in Protected Areas and Reduce Impacts on Overused Attractions," Land, MDPI, vol. 11(12), pages 1-15, November.
    11. Anatoliy Alabugin & Sergei Aliukov & Tatyana Khudyakova, 2022. "Models and Methods of Formation of the Foresight-Controlling Mechanism," Sustainability, MDPI, vol. 14(16), pages 1-24, August.
    12. Živilé Gedminaité-Raudoné & Dalia Vidickiené & Rita Vilké, 2019. "Unused potential for Smart Specialization development through collaboration: Lithuanian case," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 65(10), pages 463-469.
    13. Kirill V. Simonov & Natalia A. Girfanova, 2023. "Managing a high-tech startup: A case of machine vision for the poultry industry," Upravlenets, Ural State University of Economics, vol. 14(2), pages 47-61, May.
    14. Robi Kurniawan & Shunsuke Managi, 2019. "Linking Wealth and Productivity of Natural Capital for 140 Countries Between 1990 and 2014," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 141(1), pages 443-462, January.
    15. Takuya Shimamura & Takeshi Mizunoya, 2020. "Sustainability Prediction Model for Capital City Relocation in Indonesia Based on Inclusive Wealth and System Dynamics," Sustainability, MDPI, vol. 12(10), pages 1-25, May.
    16. Francesco Polese & Carmen Gallucci & Luca Carrubbo & Rosalia Santulli, 2021. "Predictive Maintenance as a Driver for Corporate Sustainability: Evidence from a Public-Private Co-Financed R&D Project," Sustainability, MDPI, vol. 13(11), pages 1-21, May.
    17. Magdalena Cyrek & Barbara Fura, 2019. "Employment for Sustainable Development: Sectoral Efficiencies in EU Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 143(1), pages 277-318, May.
    18. Sanja Franc & Deniza Karadžija, 2019. "Quintuple helix approach: The case of the European Union," Notitia - journal for economic, business and social issues, Notitia Ltd., vol. 1(5), pages 91-100, December.
    19. Bartoloni, Sara & Calò, Ernesto & Marinelli, Luca & Pascucci, Federica & Dezi, Luca & Carayannis, Elias & Revel, Gian Marco & Gregori, Gian Luca, 2022. "Towards designing society 5.0 solutions: The new Quintuple Helix - Design Thinking approach to technology," Technovation, Elsevier, vol. 113(C).
    20. Eva Panetti & Adele Parmentola & Marco Ferretti & Elisabeth Beck Reynolds, 2020. "Exploring the relational dimension in a smart innovation ecosystem: a comprehensive framework to define the network structure and the network portfolio," The Journal of Technology Transfer, Springer, vol. 45(6), pages 1775-1796, December.

    More about this item

    Keywords

    employment; household income; pandemic; COVID-19; support measures; government support; inclusiveness; inclusive economic growth.;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aiy:jnjaer:v:21:y:2022:i:1:p:21-48. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Natalia Starodubets (email available below). General contact details of provider: https://edirc.repec.org/data/seurfru.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.