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Government Wealth Funds and Monetary Policy in Russia

Author

Listed:
  • Sergey G. Sinelnikov-Murylev

    (Russian Foreign Trade Economy)

  • Pavel V. Trunin

    (Russian Presidential Academy of National Economy and Public Administration)

Abstract

Economic theory and practice acknowledge a high degree of fiscal and monetary policy interdependence. This relationship is especially evident if the government accumulates heavily on its accounts at the central bank. The article analyzes the impact of the formation and spending of the Reserve Fund and the National Wealth Fund on the monetary policy of the Bank of Russia. This effect is considered under the current economic crisis and the need to spend resources accumulated in sovereign wealth funds.

Suggested Citation

  • Sergey G. Sinelnikov-Murylev & Pavel V. Trunin, 2015. "Government Wealth Funds and Monetary Policy in Russia," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 3, pages 26-34, June.
  • Handle: RePEc:fru:finjrn:150303:p:26-34
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