Forming Sources for a Long-run Growth: How to Understand?

Idrisov, Georgy; Sinelnikov-Murylev, Sergei Germanovich

doi:10.2139/ssrn.2436998

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Forming Sources for a Long-run Growth: How to Understand?

22 Pages Posted: 16 May 2014 Last revised: 23 Jul 2014

See all articles by Georgy Idrisov

Georgy Idrisov

Gaidar Institute for Economic Policy

Sergei Germanovich Sinelnikov-Murylev

Russian Foreign Trade Academy; Gaidar Institute for Economic Policy; Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA) - Department of Economics

Date Written: June 2014

Abstract

The paper analyzes the inconsequence and problems of Russian economic policy to accelerate economic growth. Authors consider three components of growth rate (potential, Russian and world business cycles) and conclude that in order to pursue an effective economic policy to accelerate growth, it has to be addressed to the potential (long-run) growth component. The main ingredients of this policy are the government spending restructuring and budget institutions reform, labor and capital markets reform, productivity growth.

Keywords: long-run economic growth, TFP, government spending, restructuring

JEL Classification: O1, O4, H5, J2

Suggested Citation: Suggested Citation

Idrisov, Georgy and Sinelnikov-Murylev, Sergei Germanovich, Forming Sources for a Long-run Growth: How to Understand? (June 2014). Available at SSRN: https://ssrn.com/abstract=2436998 or http://dx.doi.org/10.2139/ssrn.2436998