Russian Fiscal Framework Past, Present and Future.Do we Need a Change?
AbstractThis study examines the Russian public finance system. It provides a description of the main fiscal reforms introduced by the Government from the moment of the USSR dissolution, which enabled a reduction in the economy’s dependency on nonrenewable resources. The study presents the fiscal stabilization analysis. It conducts a fiscal impulse factor analysis as well as the estimation of the degree of the fiscal policy cyclicality in the period 2000-2014. The estimates show fiscal policy was procyclical in 2006-2008 and is expected to be so in 2012 while stabilizing during the rest of the period. The study also discusses fiscal sustainability issues for the period up to 2050 under two socio-economic scenarios. The size of the necessary fiscal consolidation under the current fiscal strategy is calculated and an alternative strategy is investigated.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Central Bank of Argentina, Economic Research Department in its journal Ensayos Económicos.
Volume (Year): 1 (2011)
Issue (Month): 64 (October - December)
fiscal policy; fiscal stabilization; fiscal sustainability; Russia;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H6 - Public Economics - - National Budget, Deficit, and Debt
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Martin Keene & Peter Thomson, 2007. "An Analysis of Tax Revenue Forecast Errors," Treasury Working Paper Series 07/02, New Zealand Treasury.
- Enrique Alberola & José M. Montero, 2006.
"Debt sustainability and procyclical fical policies in Latin America,"
Banco de Espaï¿½a Working Papers
0611, Banco de Espa�a.
- Enrique Alberola & Manuel Montero, 2006. "Debt Sustainability and Procyclical Fiscal Policies in Latin America," JOURNAL OF LACEA ECONOMIA, LACEA - LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION.
- Ponomarenko, Alexey A. & Vlasov, Sergey A., 2010. "Russian fiscal policy during the financial crisis," BOFIT Discussion Papers 12/2010, Bank of Finland, Institute for Economies in Transition.
- Nathalie Girouard & Christophe André, 2005. "Measuring Cyclically-adjusted Budget Balances for OECD Countries," OECD Economics Department Working Papers 434, OECD Publishing.
- Ales Krejdl, 2006. "Fiscal Sustainability - Definition, Indicators and Assessment of Czech Public Finance Sustainability," Working Papers 2006/3, Czech National Bank, Research Department.
- International Monetary Fund, 2010. "The Cyclicality of Fiscal Policy in the Middle East and Central Asia:Is the Current Crisis Different?," IMF Working Papers 10/68, International Monetary Fund.
- Jeromin Zettelmeyer & Ivanna Vladkova Hollar, 2008. "Fiscal Positions in Latin America," IMF Working Papers 08/137, International Monetary Fund.
- Petia Topalova & Dan Nyberg, 2010. "What Level of Public Debt Could India Target?," IMF Working Papers 10/7, International Monetary Fund.
- Olivier Jean Blanchard, 1990. "Suggestions for a New Set of Fiscal Indicators," OECD Economics Department Working Papers 79, OECD Publishing.
- A. Kudrin, 2007. "Stabilization Funds: International and Russian Experience," Problems of Economic Transition, M.E. Sharpe, Inc., vol. 50(1), pages 6-26, May.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Federico Grillo).
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.