Fiscal Management In Russia
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Fiscal Management In Russia
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Author : Philippe Le Houerou
language : en
Publisher: World Bank Publications
Release Date : 1996-01-01
Fiscal Management In Russia written by Philippe Le Houerou and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-01-01 with Business & Economics categories.
Presents contributions from more than 200 World Bank staff members and consultants on their experiences with participatory approaches to development activities. The Sourcebook serves as a reference guide to participatory development, featuring country case studies, pointers for participatory planning and decisionmaking, and ways of enabling the poor to participate. It also discusses the role of nongovernmental organizations in this area. Annexes include descriptions of methods and summaries of background papers.
Russian Federation
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Author :
language : en
Publisher:
Release Date : 1995
Russian Federation written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Fiscal policy categories.
Measuring The Performance Of Fiscal Policy In Russia
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Author : Antonio Spilimbergo
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2005-12-01
Measuring The Performance Of Fiscal Policy In Russia written by Antonio Spilimbergo and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-12-01 with categories.
This paper evaluates the performance of fiscal policy in Russia since the 1998 crisis along several dimensions, using a variety of indicators. Russia has progressed tremendously in recent years on public debt sustainability, largely thanks to the fact that the real interest rates on public debt have been negative and growth has been high. However, the constant oil-price balance shows a progressive worsening starting in 2001, with a modest reversal in 2004. The analysis of the non-oil fiscal balance shows that Russian fiscal policy has had a mixed record. Part of the windfalls were spent before the introduction of the oil stabilization fund, but most of the oil revenues have been saved during the last two year. This poses an important challenge for future years when the automatic saving mechanism provided by the oil stabilization fund will be weakened by the approved increase in the reference oil price. The standard fiscal impulse shows that budget policy has not contributed to the increase in aggregate demand since 2003. However, the fiscal position was not tight enough to contain the inflationary effects of the exceptional oil windfalls on the economy as a whole.
Investment Policy In Russia
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Author : Philippe Le Houerou
language : en
Publisher: World Bank Publications
Release Date : 1995-01-01
Investment Policy In Russia written by Philippe Le Houerou and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-01-01 with Business & Economics categories.
Studies of Economies in Transformation No. 17.Redefines the role of government during the transition of Russia from a command economy to a market based economy.The role of government in investment financing is one of the major issues dominating public debate on economic policy in the former Soviet Union.This study describes and analyses recent investment trends, changes in structural patterns, and policies in Russia. The author examines five key aspects of economic policy and investment: price distortions; uncertainty; inflation; the legal, regulatory, and security framework; and the tax regime.The study also outlines the principles and major building blocks of a new market-based investment policy in the former Soviet Union, the scope of government-financed investment, and the management and instruments of that investment.Also available in Russian: (ISBN 0-8213-3564-2) Stock No. 13564.
Russian Federation
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2014-05-28
Russian Federation written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-28 with Business & Economics categories.
This paper discusses key findings of the pilot Fiscal Transparency Evaluation for the Russian Federation. Most aspects of Russia’s fiscal reporting and budgeting practices are in line with good or advanced practice under the July 2013 draft of the Fiscal Transparency Code. The disclosure and management of fiscal risks has significantly improved in recent years. The evaluation highlights a number of important areas where fiscal transparency practices could be further improved. Addressing these gaps in fiscal transparency practices would enable the government to provide a more complete picture of its fiscal position, prospects, and risks.
Decentralization In Regional Fiscal Systems In Russia
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Author : Lev M. Freinkman
language : en
Publisher: World Bank Publications
Release Date : 1999
Decentralization In Regional Fiscal Systems In Russia written by Lev M. Freinkman and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Accounting categories.
Abstract: April 1999 - Considering the positive impact decentralization has had on regional economic performance and expenditure structure, Russia's federal government should: Decisively protect local self-governance and budget autonomy; Make intergovernmental fiscal relations more transparent; Develop universal models of interactions between regional and municipal governments; Impose stricter limits on total debt and budget deficits of subnational governments. To shed light on decentralization in Russia, Freinkman and Yossifov examine intergovernmental fiscal relations within regions. To analyze trends, they review channels of fiscal allocation within regions-tax sharing and local transfer schemes. To evaluate the potential impact of various fiscal decentralization patterns on regional economic performance (including growth and the budget deficit), they study data on the structure of 89 Russian consolidated regional budgets for 1992-96. They find that local governments' relative share of Russia's consolidated budget, although substantive (roughly a quarter of the total budget), did not expand after 1994. The federal government's relative role in financing public goods and services declined as the relative role of local governments increased substantially. Local governments collected more revenues in 1996 (6.4 percent of GDP) and spent more than regional governments. They also substantially increased social financing (including health, education, and social protection). Russia made no progress toward a more transparent system for tax assignments. The average level of expenditure decentralization is similar for ethnically Russian regions and national republics and okrugs but revenue arrangements differ greatly. True decentralization has taken place in oblasts and krais, where local authorities are provided with a bigger share of subnational tax revenues. A redistribution model applies in republics and autonomous okrugs, where greater local outlays have been financed through larger transfers from regional governments. Regions near each other tend to have similar budget arrangements-the result of intensive interactions between neighbors and probably supported by the activities of regional associations. The size of a region's territory does not influence decentralization outcomes. Fiscal decentralization seems positively related to the share of education spending in regional budgets. And regions with more decentralized finances tend to experience less economic decline. But budget control is weaker in more decentralized regions. Instability and lack of transparency in intergovernmental fiscal relations provide subnational governments little incentive for responsible fiscal policy. Further decentralization without greater transparency could bring greater debt and deficits. This paper-a product of the Poverty Reduction and Economic Management Sector Unit, Europe and Central Asia Region - is part of a larger effort in the unit to study fiscal decentralization in transition economies. Lev Freinkman may be contacted at [email protected].
Strengthening Russia S Fiscal Framework
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Author : Ms.Charleen Gust
language : en
Publisher: International Monetary Fund
Release Date : 2012-03-01
Strengthening Russia S Fiscal Framework written by Ms.Charleen Gust and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-01 with Business & Economics categories.
Though many aspects of Russia's fiscal policy framework are close to best practice on paper, actual practice in recent years has been moving away from best practice. In particular, the continued focus on the overall rather than the nonoil balance, and the regular use of supplemental budgets to spend windfall oil revenues contribute to procylicality of fiscal policy, risking costly boom-bust cycles. Against this background, this paper suggests several improvements to the framework for fiscal policy.
Fiscal Policy Issues During The Transition In Russia
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Author : Augusto López-Claros
language : en
Publisher:
Release Date : 1998
Fiscal Policy Issues During The Transition In Russia written by Augusto López-Claros and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Expenditures, Public categories.
Modernization, tax system, public expenditure.
Subnational Budgeting In Russia
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Author : Lev M. Freinkman
language : en
Publisher: World Bank Publications
Release Date : 1999-01-01
Subnational Budgeting In Russia written by Lev M. Freinkman and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-01 with Business & Economics categories.
"Not only are Russia's regions economically diverse, but the policies that regional governments have adopted to deal with the strains of economic transition also vary widely. Some regions have generally embraced market reforms, while others have sought to preserve enclaves of socialism, with price restrictions, large subsidies, and barriers to trade." Reforms of Russia's budgetary system at the subnational level are vital to preserve macroeconomic stability, improve the efficiency and accountability of government, and enhance incentives for local and regional governments to vigorously support economic growth. Previous analytical and reform efforts have focused on possible changes at the federal level and in the system of center-region relations. An opportunity now exists to make progress by providing reform advice and conditional aid to policymakers at the regional and subregional level. This report focuses on opportunities for reform at the subnational level. It reviews recent trends in fiscal adjustment, budgeting, and government debt at the regional and local levels in Russia. It analyzes major problems and suggests a number of measures and performance indicators that could form part of a reform strategy initiated by the Government of Russia.
Russian Federation
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-09-22
Russian Federation written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-22 with Business & Economics categories.
This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for the Russian Federation in the area of macroprudential policy. Financial stability oversight responsibilities are currently shared between the Central Bank of Russia (CBR) and the high-level interagency National Council on Ensuring Financial Stability. In recent years, the CBR has used a number of macroprudential tools to deal with risks, mainly those stemming from retail lending. The CBR has tightened provisioning requirements and increased capital risk weights to curb excessive growth of unsecured consumer lending, which has helped banks better handle credit risk that materialized. However, the CBR law should be amended to provide for a more comprehensive set of macroprudential tools.