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Russian budget structure efficiency: Empirical study
[journal article]
Abstract This paper investigates the economic efficiency of Russian public expenditures in 2002-2016 by estimation of their multiplicative impact on the GDP level and economic growth. We use the empirical methodology based on Corsetti et al. (2012). We estimate a number of fiscal multipliers: on national sec... view more
This paper investigates the economic efficiency of Russian public expenditures in 2002-2016 by estimation of their multiplicative impact on the GDP level and economic growth. We use the empirical methodology based on Corsetti et al. (2012). We estimate a number of fiscal multipliers: on national security, law-enforcement activity, national defense, education, health care and sport and road infrastructure. For assessing the influence of budget structure on long-term economic growth rates, we estimate the SVAR model in which GDP growth is a structural variable. The research shows a positive influence of budgetary resources redistribution from non-productive government expenditures to productive ones on economic development.... view less
Keywords
fiscal policy; economic growth
Classification
Economic Policy
Free Keywords
VAR; time series; budget maneuver; national budget; structure of government
Document language
English
Publication Year
2018
Page/Pages
p. 197-214
Journal
Russian Journal of Economics, 4 (2018) 3
ISSN
2618-7213
Status
Published Version; reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0