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Forming Sources for a Long-run Growth: How to Understand Them?


  • Georgy Idrisov

    (Gaidar Institute for Economic Policy)

  • Sergey Sinelnikov-Murylev

    (Russian Foreign Trade Academy)


The paper analyzes the inconsequence and problems of Russian economic policy to accelerate economic growth. Authors consider three components of growth rate (potential, Russian and world business cycles) and conclude that in order to pursue an effective economic policy to accelerate growth, it has to be addressed to the potential (long-run) growth component. The main ingredients of this policy are the government spending restructuring

Suggested Citation

  • Georgy Idrisov & Sergey Sinelnikov-Murylev, 2014. "Forming Sources for a Long-run Growth: How to Understand Them?," Working Papers 0096, Gaidar Institute for Economic Policy, revised 2014.
  • Handle: RePEc:gai:wpaper:0096

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    References listed on IDEAS

    1. G. Idrisov & S. Sinelnikov-Murylev., 2013. "Budget Policy and Economic Growth," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 8.
    2. Halvor Mehlum & Karl Moene & Ragnar Torvik, 2006. "Institutions and the Resource Curse," Economic Journal, Royal Economic Society, vol. 116(508), pages 1-20, January.
    3. Vito Tanzi & Howell H. Zee, 1997. "Fiscal Policy and Long-Run Growth," IMF Staff Papers, Palgrave Macmillan, vol. 44(2), pages 179-209, June.
    4. 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.
    5. Thorvaldur Gylfason, 2007. "The International Economics of Natural Resources and Growth," CESifo Working Paper Series 1994, CESifo Group Munich.
    6. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Natural Resource Abundance and Economic Growth," NBER Working Papers 5398, National Bureau of Economic Research, Inc.
    7. Knobel, Alexander, 2013. "The risks of fiscal policy in countries rich in natural resources," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, pages 29-38, October.
    8. Vladimir Mau, 2013. "Between modernisation and stagnation: Russian economic policy and global crisis," Post-Communist Economies, Taylor & Francis Journals, vol. 25(4), pages 448-464, December.
    9. Andrew Mountford & Harald Uhlig, 2009. "What are the effects of fiscal policy shocks?," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 24(6), pages 960-992.
    10. Roberto Perotti, 2005. "Estimating the effects of fiscal policy in OECD countries," Proceedings, Federal Reserve Bank of San Francisco.
    11. Sala-i-Martin, Xavier, 1997. "I Just Ran Two Million Regressions," American Economic Review, American Economic Association, vol. 87(2), pages 178-183, May.
    12. Blankenau, William F. & Simpson, Nicole B., 2004. "Public education expenditures and growth," Journal of Development Economics, Elsevier, vol. 73(2), pages 583-605, April.
    13. Tommaso Monacelli & Roberto Perotti, 2008. "Fiscal Policy, Wealth Effects, and Markups," NBER Working Papers 14584, National Bureau of Economic Research, Inc.
    14. Maria Kazakova & Sergei Sinelnikov-Murilov, 2009. "The Global Market for Energy Sources and the Pace of Economic Growth In Russia," Working Papers 0003, Gaidar Institute for Economic Policy, revised 2011.
    15. Klyachko, Tatiana & Sinelnikov-Murylev, Sergei, 2012. "On Standards of Budget Funding and Adjusting the Fees in State Universities," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 1-28.
    16. Olivier Blanchard & Roberto Perotti, 2002. "An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output," The Quarterly Journal of Economics, Oxford University Press, vol. 117(4), pages 1329-1368.
    17. Shekhar Aiyar & Romain A Duval & Damien Puy & Yiqun Wu & Longmei Zhang, 2013. "Growth Slowdowns and the Middle-Income Trap," IMF Working Papers 13/71, International Monetary Fund.
    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. 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.
    20. Entov Revold & Radygin Alexandr, 2006. "Corporate Governance and Self-regulation in Institutional Changes System," Research Paper Series, Gaidar Institute for Economic Policy, issue 101.
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    1. repec:eee:rujoec:v:1:y:2015:i:3:p:257-272 is not listed on IDEAS
    2. repec:eee:rujoec:v:1:y:2015:i:1:p:4-29 is not listed on IDEAS
    3. repec:eee:rujoec:v:2:y:2016:i:3:p:279-301 is not listed on IDEAS

    More about this item


    long-run economic growth; TFP; government spending; restructuring.;

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor

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