The Journal Acta Oeconomica Published an Article by the Gaidar Institute Experts

The article analyzes the inconsistencies and problems inherent in Russia's economic policy, which is aimed at accelerating the rate of economic growth. The authors consider three components of the growth rate (structural, Russian business cycle and world business cycle components) and come to the conclusion that economic policy measures at the present moment can be effective only with regard to the long-run growth component. The authors believe that the main ingredients of these measures should be the budget maneuver and reform of the budget institutions, improved functioning of the labor and capital markets, and productivity growth across the national economy.