STRATEGY AND TACTICS OF REFORMS
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VECTORS OF THE RUSSIAN ECONOMY DEVELOPMENT
AS VIEWED BY OECD
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FISCAL FEDERALISM
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CRITIQUE AND BIBLIOGRAPHY |
- Gurkov I.B. Strategic Management of the Organization
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SCIENTIFIC LIFE |
- Russian-German Dialogue of the Economists
Abstracts
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E. YASIN.
Prospects of the Russian Economy: Problems and Factors
of Growth
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Monetary policy was and remains the main instrument of Russian structural reforms. In the article the achievements and failures of this policy are analyzed. It also contains some considerations about economic spheres where monetary policy must be made more active and, on the contrary, where quite different regulators and stimuli should be used.
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N. SHMELEV.
Monetary Policy and Structural Reforms in the Economy
of Post-Soviet Russia
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Monetary policy was and remains the main instrument of Russian structural reforms. In the article the achievements and failures of this policy are analyzed. It also contains some considerations about economic spheres where monetary policy must be made more active and, on the contrary, where quite different regulators and stimuli should be used.
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Overview of the Russian Economy
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The material offered to the readers is the first chapter of the OECD survey, where the main features of the economic development of the Russian Federation in 1998-2002 are considered. It is argued that after 1998 crisis the Russian economy has begun to recover rather quickly. The revival has been evident practically in all sectors of the Russian economy. Main tendencies in production and consumption, investments and inflation are considered. Basic features of monetary and fiscal policy, bank sector development, balance of payments are analyzed. Special attention is given to the sources of economic growth. The main conclusion of the study is that sustainable economic growth in Russia requires fast progress in institutional and structural reforms.
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Fiscal Federalist Relations: Recent Trends and Prospects
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The material offered to the readers is the fourth chapter of the OECD survey, where main tendencies of the fiscal federalism development in Russia are investigated. The reform of interbudgetary relations is considered to be one of the major directions of reforming the Russian economy. It is underlined that during recent years fiscal federalist relations in Russia have undergone strong transformation. But the changes only led to strengthening of the central control over regional finances. According to the authors, opinion, within the framework of an effective system of fiscal federalist relations at least part of existing budget autonomy at the lower levels of government should be formally recognized.
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P. KADOCHNIKOV, S. SINEL,NIKOV-MURYLEV, I. TRUNIN.
Problems of Modeling of the Impact of the System
of Intergovernmental Transfers on the Fiscal Behavior
of Subnational Governments
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Intergovernmental transfers are important instruments of fiscal policy in a state with several levels of government. Existing literature in the area of economics of fiscal federalism leaves beyond its scope the analysis of the impact of the system of intergovernmental grants' allocation on the choice of subnational governments with respect to taxation and public expenditures. The authors assume that under certain conditions it is the methodology of intergovernmental transfers' allocation that along with transfers types creates fiscal incentives for subnational governments. The main reason for the presence of fiscal incentives caused by intergovernmental transfers' allocation mechanism is assumed to depend on the fact whether transfers' allocation mechanism is based on reported subnational public revenues and expenditures or it takes into account estimates of regional fiscal capacity and expenditure needs. In order to analyze underlying mechanisms of fiscal incentives for subnational governments a simple model of their behavior is used under conditions induced by parametric formula for equalization grants' allocation set by the central government.
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M. NIKOLAEV, M. MAKHOTAEVA.
Summary of the Planning Practice in Russian Regions
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The article summarizes current planning practices in Russian regions. Regions are classified according to kinds, contents and methods of development of planning documents. Basic tendencies and problems in planning regulation of regional development are revealed. The main tendency is the transition from short-term and anti-crisis programs to long-term planning documents. The most urgent problem is low quality of developed planning documents, that in many respects determines low efficiency of planning activity in Russian regions.
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S. ARTEMYEVA.
The Improvement of Intergovernmental Relations under
Modern Conditions
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The author analyses the reform of intergovernmental relations. Measures of rationalizing the tax system as well as delimitating budgetary expenditure authorities are considered. The author studies questions of reduction of the budgetary regional asymmetry, ways of improvement of regional financial independence and offers measures of strengthening territorial budget incomes.
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O. BERG.
On the Program of Fiscal Federalism Development in the
Russian Federation till 2005
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The article analyses the Program of Fiscal Federalism Development in the Russian Federation till 2005. It points out a number of terminological and essential drawbacks as well as contradictions and structural mistakes that the program contains. Their elimination will help increase the efficiency of intergovernmental relations.
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