How Economic Cycles Affect State Social Policy Development

Global Business & Economics Anthology, Vol. 2, No. 2, pp. 460-469, December 2011

Posted: 29 Jan 2012

See all articles by Yuriy Timofeyev

Yuriy Timofeyev

National Research University Higher School of Economics

Galina Timofeyeva

affiliation not provided to SSRN

Date Written: July 8, 2011

Abstract

This article tests a hypothesis about the existence of a correlation between rates of economic growth and rates of public social spending in OECD countries and a range of transition economies. The paper argues that an economy does not necessarily react to fluctuations in business cycles with rises/falls in social spending in the mid term; however, significant fluctuations in the long term may occur during postsocialist transitions. Also, a long-term prognosis of state social policy development in Russia is presented based on OECD countries and developmental regularities of transition economies.

Keywords: state social policy, development regularities, public social expenditures, economic growth, post-socialistic transition economies, Russia

JEL Classification: C12, H50, I38, O57

Suggested Citation

Timofeyev, Yuriy and Timofeyeva, Galina, How Economic Cycles Affect State Social Policy Development (July 8, 2011). Global Business & Economics Anthology, Vol. 2, No. 2, pp. 460-469, December 2011, Available at SSRN: https://ssrn.com/abstract=1993190

Yuriy Timofeyev (Contact Author)

National Research University Higher School of Economics ( email )

Moscow
Russia

Galina Timofeyeva

affiliation not provided to SSRN ( email )

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