The article addresses the issue of fiscal policy risks in countries with an abundance of natural resources, including Russia. It is demonstrated which consequences Russia’s federal budget may be faced with as a result of declining oil prices. In the context of phenomena typical of...

In 2013 the Russian economy entered a new phase of socio-economic development. The period of tempestuous development, during which the primary trends and objectives had been those of recovery and which had lasted almost twelve years (1999–2012), had come to an end. The crisis of 2009 did not...

This article examines the relationship between government budgetary policy and the pursuit of accelerated economic growth. The authors review the academic debate over long-term economic growth and associated short-term fluctuations and conclude that Russian budgetary intended to smooth...

In the paper the authors examine not cyclic fluctuations in the growth rate of Russia’s GDP but fluctuations associated with changes in world oil prices

This work gives a review of the history of how a number of institutions emerged in developed countries. The authors attempt to analyse a connection between this process and the current economic growth phenomenon. The authors believe that stremgthenning guarantees of personal immunity provided...

Institutions and economic growth

Policy goals of the Central bank of Russia

The typical feature of the present-day situation in Russia with regard to institutional development is the existence of a significant discrepancy between two groups of indices. While the changes in the values of the majority of indices that describe the quality of this country’s business...

In September 2008, the IET’s Department for Economic Situation Surveys conducted a business survey among Russian industrial enterprises aimed at identifying the existing obstacles to successful economic development. Within the business survey’s framework the directors of enterprises were...