FISCAL STIMULUS AND RUSSIAN SOVEREIGN FUNDS-Reference-Cited by-同舟云学术

FISCAL STIMULUS AND RUSSIAN SOVEREIGN FUNDS

Published:2013-12-20 Issue:12 Volume: Page:74-85
ISSN:0042-8736
Container-title:Voprosy Ekonomiki
language:
Short-container-title:Vopr. èkon.

Author:

Buklemishev O.¹

Affiliation:

1. Lomonosov Moscow State University (Moscow, Russia)

Abstract

The paper analyzes the current options of fiscal stimulus in the Russian economy. It is asserted that due to economic and institutional factors the increase in public expenditures will not be efficient and the appropriate resource base is limited. The contradictions of the budget policy based on channeling extra oil and gas revenues into the sovereign funds to be invested abroad, are considered. It is concluded that this policy which has been carried out in Russia during the last ten years is experiencing a crisis and needs a revision.

Publisher

NP Voprosy Ekonomiki

Subject

Economics and Econometrics,Finance

Reference14 articles.

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4. Kudrin A. (2006). The Mechanisms of Forming of Russia’s Non-Oil-and-Gas Budget Balance // Voprosy Ekonomiki. No 8. P. 4—16.

5. Aizenman J., Glick R. (2008). Sovereign Wealth Funds: Stylized Facts about their Determinants and Governance // NBER Working Paper. No 14562.

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