The Risks of Russia’s Debt Policy against the Background of the Global Debt Crisis
AbstractThe paper discusses the debt component of the current global crisis, which becomes stronger in 2011—2012. The Russian economy is analyzed in terms of its debt stability: a thorough analysis shows that it is not quite adequate. This paper presents the main problems that could be exacerbated by the global debt crisis (strong dependence of the budget on the volatility of oil prices, deterioration of conditions for external borrowing and overheat of the domestic debt market, too high public pension liabilities, substantial corporate debt and high level of state paternalism in regard to big business). Some measures to address Russian debt policy problems are proposed.
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Bibliographic InfoArticle provided by N.P. Redaktsiya zhurnala "Voprosy Economiki" in its journal Voprosy Economiki.
Volume (Year): 3 (2012)
Issue (Month): ()
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Web page: http://www.vopreco.ru/eng/year.html
financial economy; debt crisis; government and corporate debt; Russia’s debt stability; budget deficit; external and internal borrowings; contingent debts.;
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- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
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