Record Details

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Global Markets and Financial Engineering

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Field Value
 
Title .
Contradictions between the budget and monetary policies in the modern Russia as the main cause of crises
 
Creator Korishchenko K...; Russian Presidential Academy of National Economy and Public Administration
 
Subject .
budget; payment balance; economic crisis; real effective rate; controlled price index
 
Description .
The article is dedicated to the empirical study of the causes of periodical crises in the Russian economy. It is the continuation of the author’s article "On the Effect of the Russian Ruble Exchange Rate on the Economic Growth Dynamics". The Central Bank of the Russian Federation’s data "Guidelines for the Single State Monetary Policy" over a period 2000-2015 were used for calculations and diagrams. Based upon the Russian macroeconomic statistical data for the period of 1995-2015, the main factors are defined (real effective rate of rouble, oil price, capital account of payment balance, growth rate of controlled prices) that allow to build a crisis development model. The idea of constant contradictions between the money-and-credit and budget policies of the government is suggested as the main cause of crises of 1998, 2008 and 2014. This discrepancy is exemplified by each stage of the Russian economic development (1995-1999, 2000-2008, 2009-2014). A self-sustained crisis model and methods for resolving this issue are suggested.
 
Publisher Creative Economy Publishers LLC
 
Contributor —
—
 
Date 2015-10-08
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Отрецензированная статья
 
Identifier http://journals.creativeconomy.ru/index.php/gmfe/article/view/1906
10.18334/gmfe.2.2.1906
 
Source Global Markets and Financial Engineering; Том 2, № 2 (2015)
Global Markets and Financial Engineering; Том 2, № 2 (2015)
2412-978X
10.18334/gmfe.2.2
 
Rights © авторы / Creative Economy Publishers, 2015
http://creativecommons.org/licenses/by-nc-nd/4.0