Research Article
BibTex RIS Cite
Year 2016, , 98 - 107, 30.03.2016
https://doi.org/10.17261/Pressacademia.2016116557

Abstract

References

  • Acosta Ormaechea, S. L., & Yoo, J. (2012). “Tax Composition and Growth: A Broad Cross-Country Perspective.”
  • Acosta-Ormaechea, M. S. , & Morozumi, A. (2013). “Can a government enhance long-run growth by changing the composition of public expenditure?” (No. 13-162). International Monetary Fund.
  • Afonso, A., Jalles, J. (2014). “Causality for the government budget and economic growth”, Applied Economics Letters, 21 (17), 1198-1201.
  • Arellano, M., & Bond, S. (1991). “Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations”, The review of economic studies, 58(2), 277-297.
  • Baum, A., Checherita-Westphal, C., & Rother, P. (2013). “Debt and growth: New evidence for the euro area”, Journal of International Money and Finance, 32, 809-821.
  • Baltagi,B., (1996). Econometric Analysis of Panel Data, John Wiley.
  • Barro, R. (1990). “Government Spending in a Simple Model of Endogenous Growth”, Journal of Political Economy. 98 (5), 103–S125.
  • Benos,N., (2009). “Fiscal Policy and Economic Growth: EmpricalEvidende From EU Countries”, MPRA Paper.
  • Bergh, A., Henkerson, M., (2011).” Government Size and Growth: A Survey and Interpretation of the Evidence”, Journal of Economic Surveys. 25 (5), 872–897.
  • Cottarelli,C., Jaramillo, L.,(2012).”Walking Hand in Hand: Fiscal Policy and Economic Growth in Advanced Economies, IMF Working Paper, WP/12/137.
  • Dalić, M. (2013). “Fiscal policy and growth in new member states of the EU: a panel data analysis”. Financial theory and practice, 37(4), 335-360.
  • Durevall, D., and Henrekson, M.,(2011). “The Futile Quest for a Grand Explanation of Long-Run Government Expenditure”. Journal of Public Economics, Vol.95, Issues 7-8, 708-722.
  • Easterly, W., & Rebelo, S. (1993). “Fiscal policy and economic growth”. Journal of monetary economics, 32(3), 417-458.
  • Engen, E. M., & Skinner, J. (1992). “Fiscal policy and economic growth” (No. w4223). National Bureau of Economic Research.
  • Glaz'ev, S., & Fetisov, G. (2014). “On a Strategy for Steady Development of the Russian Economy”. Problems of Economic Transition, 56(12), 63-76.
  • Kumar, M. S. , Woo, J., (2010). Public debt and Growth. IMF working paper, wP/10/174, Washington.
  • Mickiewicz, T.M. (2005). “Post-Communist Recessions Re-examined”. School Of Slavonic&East European Studies Working Paper (55) Mohammadi, H., Ram, R.,(2015). “Economic Development and Government Spending: An Exploration of Wagner’s Hypothesis During Fifty Years of Growth In East Asia”,Economies, Vol 3, Issue 4, 150-160.
  • Panizza, U., & Presbitero, A. F. (2012).” Is high public debt harmful for economic growth?.” VoxEU. org, 22.
  • Rautava, J. (2004). “The role of oil prices and the real exchange rate in Russia's economy—a cointegration approach”. Journal of comparative economics, 32(2), 315-327.
  • Popov, V., (2008). “Resurgent Russian Economy: Putin’s Policy without Putin”, International Journal, Spring, 247-261.
  • Ram, R. (1986). “Government Size and Economic Growth: A New Framework and some Evidence from Cross-section and Time-series Data”, American Economic Review. 76 (1), 191–203.
  • Reinhart, C. M., & Rogoff, K. S. (2010). “Growth in a Time of Debt (Digest Summary)”. American Economic Review, 100(2), 573-578.
  • Sancak, E., Karaman, S.C., (2014). “Developments In The Russian Economy In The Post-Soviet Era”. Süleyman Demirel Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 19(4).
  • Sinelnikov, S., & Batkibekov, S. (2006). “Fiscal Policy and International Cooperation in the Russian Federation”. Problems of Economic Transition, 49(2), 34-70.
  • Heston, A., and Summers, R., (1988). "What We Have Learned about Prices and Quantities from International Comparisons: 1987," American Economic Review, American Economic Association, vol. 78(2), 467-73.
  • Wu, S. Y., Tang, J. H., & Lin, E. S. (2010). “The impact of government expenditure on economic growth: How sensitive to the level of development?”. Journal of Policy Modeling, 32(6), 804-817.
  • Zamaraev, B., Kiiutsevskaia, A., Nazarova, A., & Sukhanov, E. (2014). “The Slowdown of Russian Economic Growth”. Problems of Economic Transition, 57(3), 13-56.

FISCAL POLICY AND GROWTH: COMPERATIVE ANALYSIS OF RUSSIA AND THE OTHER POST SOVIET UNION COUNTRIES

Year 2016, , 98 - 107, 30.03.2016
https://doi.org/10.17261/Pressacademia.2016116557

Abstract

After the
seperation of the Soviet Union and  the
transformation of the economic systems from socialism to capitalism, public
policies of old Soviet Nations have also changed. Among these countries, Russia
has a special importance due to its economic and fiscal potential and in terms
of its inheritance of a strict centralist system.  On the other hand,  aftermath of the scatter of Soviet Union in
1991, Russia met two important economic crises. This study aims to investigate
Russian economic and fiscal performance in 1992-2014 after the disintegration
and also to compare Old Soviet Nations including 12 countries by using dynamic
panel data analysis with the variables of GDP growth, inflation, unemployment,
current account balance, public revenues, public expenditures, primary balance,
budget balance and public debt. Finally, the study examines the effect of
public policies during the transition period on economic growth. 

References

  • Acosta Ormaechea, S. L., & Yoo, J. (2012). “Tax Composition and Growth: A Broad Cross-Country Perspective.”
  • Acosta-Ormaechea, M. S. , & Morozumi, A. (2013). “Can a government enhance long-run growth by changing the composition of public expenditure?” (No. 13-162). International Monetary Fund.
  • Afonso, A., Jalles, J. (2014). “Causality for the government budget and economic growth”, Applied Economics Letters, 21 (17), 1198-1201.
  • Arellano, M., & Bond, S. (1991). “Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations”, The review of economic studies, 58(2), 277-297.
  • Baum, A., Checherita-Westphal, C., & Rother, P. (2013). “Debt and growth: New evidence for the euro area”, Journal of International Money and Finance, 32, 809-821.
  • Baltagi,B., (1996). Econometric Analysis of Panel Data, John Wiley.
  • Barro, R. (1990). “Government Spending in a Simple Model of Endogenous Growth”, Journal of Political Economy. 98 (5), 103–S125.
  • Benos,N., (2009). “Fiscal Policy and Economic Growth: EmpricalEvidende From EU Countries”, MPRA Paper.
  • Bergh, A., Henkerson, M., (2011).” Government Size and Growth: A Survey and Interpretation of the Evidence”, Journal of Economic Surveys. 25 (5), 872–897.
  • Cottarelli,C., Jaramillo, L.,(2012).”Walking Hand in Hand: Fiscal Policy and Economic Growth in Advanced Economies, IMF Working Paper, WP/12/137.
  • Dalić, M. (2013). “Fiscal policy and growth in new member states of the EU: a panel data analysis”. Financial theory and practice, 37(4), 335-360.
  • Durevall, D., and Henrekson, M.,(2011). “The Futile Quest for a Grand Explanation of Long-Run Government Expenditure”. Journal of Public Economics, Vol.95, Issues 7-8, 708-722.
  • Easterly, W., & Rebelo, S. (1993). “Fiscal policy and economic growth”. Journal of monetary economics, 32(3), 417-458.
  • Engen, E. M., & Skinner, J. (1992). “Fiscal policy and economic growth” (No. w4223). National Bureau of Economic Research.
  • Glaz'ev, S., & Fetisov, G. (2014). “On a Strategy for Steady Development of the Russian Economy”. Problems of Economic Transition, 56(12), 63-76.
  • Kumar, M. S. , Woo, J., (2010). Public debt and Growth. IMF working paper, wP/10/174, Washington.
  • Mickiewicz, T.M. (2005). “Post-Communist Recessions Re-examined”. School Of Slavonic&East European Studies Working Paper (55) Mohammadi, H., Ram, R.,(2015). “Economic Development and Government Spending: An Exploration of Wagner’s Hypothesis During Fifty Years of Growth In East Asia”,Economies, Vol 3, Issue 4, 150-160.
  • Panizza, U., & Presbitero, A. F. (2012).” Is high public debt harmful for economic growth?.” VoxEU. org, 22.
  • Rautava, J. (2004). “The role of oil prices and the real exchange rate in Russia's economy—a cointegration approach”. Journal of comparative economics, 32(2), 315-327.
  • Popov, V., (2008). “Resurgent Russian Economy: Putin’s Policy without Putin”, International Journal, Spring, 247-261.
  • Ram, R. (1986). “Government Size and Economic Growth: A New Framework and some Evidence from Cross-section and Time-series Data”, American Economic Review. 76 (1), 191–203.
  • Reinhart, C. M., & Rogoff, K. S. (2010). “Growth in a Time of Debt (Digest Summary)”. American Economic Review, 100(2), 573-578.
  • Sancak, E., Karaman, S.C., (2014). “Developments In The Russian Economy In The Post-Soviet Era”. Süleyman Demirel Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 19(4).
  • Sinelnikov, S., & Batkibekov, S. (2006). “Fiscal Policy and International Cooperation in the Russian Federation”. Problems of Economic Transition, 49(2), 34-70.
  • Heston, A., and Summers, R., (1988). "What We Have Learned about Prices and Quantities from International Comparisons: 1987," American Economic Review, American Economic Association, vol. 78(2), 467-73.
  • Wu, S. Y., Tang, J. H., & Lin, E. S. (2010). “The impact of government expenditure on economic growth: How sensitive to the level of development?”. Journal of Policy Modeling, 32(6), 804-817.
  • Zamaraev, B., Kiiutsevskaia, A., Nazarova, A., & Sukhanov, E. (2014). “The Slowdown of Russian Economic Growth”. Problems of Economic Transition, 57(3), 13-56.
There are 27 citations in total.

Details

Journal Section Articles
Authors

Eda Balikcioglu

Publication Date March 30, 2016
Published in Issue Year 2016

Cite

APA Balikcioglu, E. (2016). FISCAL POLICY AND GROWTH: COMPERATIVE ANALYSIS OF RUSSIA AND THE OTHER POST SOVIET UNION COUNTRIES. Journal of Business Economics and Finance, 5(1), 98-107. https://doi.org/10.17261/Pressacademia.2016116557

Journal of Business, Economics and Finance (JBEF) is a scientific, academic, double blind peer-reviewed, quarterly and open-access journal. The publication language is English. The journal publishes four issues a year. The issuing months are March, June, September and December. The journal aims to provide a research source for all practitioners, policy makers and researchers working in the areas of business, economics and finance. The Editor of JBEF invites all manuscripts that that cover theoretical and/or applied researches on topics related to the interest areas of the Journal. JBEF charges no submission or publication fee.



Ethics Policy - JBEF applies the standards of Committee on Publication Ethics (COPE). JBEF is committed to the academic community ensuring ethics and quality of manuscripts in publications. Plagiarism is strictly forbidden and the manuscripts found to be plagiarized will not be accepted or if published will be removed from the publication. Authors must certify that their manuscripts are their original work. Plagiarism, duplicate, data fabrication and redundant publications are forbidden. The manuscripts are subject to plagiarism check by iThenticate or similar. All manuscript submissions must provide a similarity report (up to 15% excluding quotes, bibliography, abstract, method).


Open Access - All research articles published in PressAcademia Journals are fully open access; immediately freely available to read, download and share. Articles are published under the terms of a Creative Commons license which permits use, distribution and reproduction in any medium, provided the original work is properly cited. Open access is a property of individual works, not necessarily journals or publishers. Community standards, rather than copyright law, will continue to provide the mechanism for enforcement of proper attribution and responsible use of the published work, as they do now.