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Budget Policy and Economic Growth

  • Georgy Idrisov

    (Gaidar Institute for Economic Policy)

  • Sergey Sinelnikov-Murylev

    (Gaidar Institute for Economic Policy)

This article examines the relationship between government budgetary policy and the pursuit of accelerated economic growth. The authors review the academic debate over long-term economic growth and associated short-term fluctuations and conclude that Russian budgetary intended to smooth fluctuations in economic activity are of limited effect and that there are no opportunities for increasing public expenditure in the medium and long-term. For these reasons, the structure of expenditures must be changed and budgetary institutions must be transformed with a view to creating the preconditions for economic growth in the long-term.

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File URL: http://www.iep.ru/files/RePEc/gai/wpaper/0076Sinelnikov.pdf
File Function: Revised version, 2013
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Paper provided by Gaidar Institute for Economic Policy in its series Working Papers with number 0076.

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Length: 41 pages
Date of creation: 2013
Date of revision: 2013
Handle: RePEc:gai:wpaper:0076
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  1. George A. Akerlof, 2009. "How Human Psychology Drives the Economy and Why It Matters," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(5), pages 1175-1175.
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  4. Sergey Drobyshevsky & Sergey Sinelnikov-Murylev, 2013. "Macroeconomic Preconditions of the Realization of a New Growth Model," CASE Network Studies and Analyses 0450, CASE-Center for Social and Economic Research.
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  9. Kneller, Richard & Bleaney, Michael F. & Gemmell, Norman, 1999. "Fiscal policy and growth: evidence from OECD countries," Journal of Public Economics, Elsevier, vol. 74(2), pages 171-190, November.
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  12. Georgy Idrisov & Sergey Sinelnikov-Murylev, 2012. "Modernization or Conservation: The Role of Export Duty on Crude Oil and Petroleum Products," Working Papers 0042, Gaidar Institute for Economic Policy, revised 2012.
  13. Robert J. Barro, 1998. "Determinants of Economic Growth: A Cross-Country Empirical Study," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262522543, June.
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  18. Giordano, Raffaela & Momigliano, Sandro & Neri, Stefano & Perotti, Roberto, 2007. "The effects of fiscal policy in Italy: Evidence from a VAR model," European Journal of Political Economy, Elsevier, vol. 23(3), pages 707-733, September.
  19. Gaidar, Yegor, 2012. "Russia: A Long View," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262017415, June.
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  22. Gupta, Sanjeev & Clements, Benedict & Baldacci, Emanuele & Mulas-Granados, Carlos, 2005. "Fiscal policy, expenditure composition, and growth in low-income countries," Journal of International Money and Finance, Elsevier, vol. 24(3), pages 441-463, April.
  23. Yuri Bobylev & Georgy Idrisov & Sergey Sinelnikov-Murylev, 2012. "Export Duties on Oil and Oil Products: Cancel Expediency and Scenario Analysis," Research Paper Series, Gaidar Institute for Economic Policy, issue 161P.
  24. S. Drobyshevsky & P. Kadochnikov & S. Sinelnikov-Murylev., 2007. "Some Issues of Monetary and Exchange Rate Policy in Russia in 2000—2006 and in the Short-term Outlook," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 2.
  25. Aschauer, David Alan, 1989. "Is public expenditure productive?," Journal of Monetary Economics, Elsevier, vol. 23(2), pages 177-200, March.
  26. S. Drobyshevsky & S. Sinelnikov-Murylev & I. Sokolov., 2011. "Transformation of Budgetary Policy in Russia during the 2000s: in Quest of National Fiscal Sustainability," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 1.
  27. V. Mau., 2011. "Economic Policy in 2010: In Search of Innovations," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 2.
  28. V. Mau., 2013. "Between Modernization and Stagnation: Economic Policy in 2012," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 2.
  29. Michael Bruno & Jeffrey Sachs, 1982. "Input Price Shocks and the Slowdown in Economic Growth: The Case of U.K. Manufacturing," Review of Economic Studies, Oxford University Press, vol. 49(5), pages 679-705.
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