Russian budget structure efficiency: Empirical study
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 f...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Voprosy Ekonomiki
2018-10-01
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| Series: | Russian Journal of Economics |
| Online Access: | https://rujec.org/articles.php?id=30163 |
| Summary: | 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.
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| ISSN: | 2618-7213 2405-4739 |