The sustainability of Russian fiscal policy

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Title: The sustainability of Russian fiscal policy
Author: Korhonen, Iikka
Organization: Bank of Finland
Suomen Pankki
Department / Unit: Institute for Economies in Transition (BOFIT)
Siirtymätalouksien tutkimuslaitos (BOFIT)
Series: IDÄNTALOUKSIEN KATSAUKSIA. REVIEW OF ECONOMIES IN TRANSITION
Series number: 1/1998
Year of publication: 1998
Publication date: 23.1.1998
Pages: 5-12
Keywords: finanssipolitiikka; julkinen talous; velkaantuminen; Venäjä; Bofit-kokoelma
Abstract: This paper briefly examines the sustainability of the Russian fiscal policy.Russia has run quite large general government deficits during the transition years.Some simple simulations show that the present policies are not sustainable in the medium-term, unless economic growth accelerates significantly and real interest rate declines.If these positive developments do not materialize, Russia must tighten her fiscal policy. Keywords: Fiscal policy, public debt, Russia
Note: Uudelleenjulkaistu pdf-muodossa 2002 (Idäntalouksien yksikön sarja)Reprint in PDF format 2002 (Unit for Eastern European Economies series)


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