Russia’s Financial System Development: How to Increase Innovative Potential of Economy (Value-Based Management, Public Finance)

Abstract

This paper contains the analysis of Russian public finance system and the proposals of its improvement in order to increase innovative potential of Russian economy. The paper is based on the thorough analysis and international comparisons of Russia’s budget system key parameters – fiscal burden, tax system, government finance, government investment & debt, sovereign wealth funds, etc. There is also a complex review of Russia’s innovation sphere and the government role in its financing and development.

Note: Downloadable document is in Russian.

Keywords: public finance model, budget system, fiscal burden, tax system, government revenue, government expense, government investment, sovereign wealth fund, innovation system

JEL Classification: E60, E62, H50