Monetary and Fiscal Policy Measures during the COVID-19 Economic Crisis in Russia

Zaytsev, Yuriy

doi:10.26794/2587-5671-2020-24-6-6-18

Cited by 10 publications

(2 citation statements)

References 14 publications

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“…In Russia, the dynamics of real GDP and real money supply show a rather rigid connection. An increase or decrease in the money supply with a certain lag usually causes an increase or decrease in GDP (Mikosch and Solanko 2019;Zaitsev 2020;Yang et al 2021). In other words, this phenomenon is long-term sustainable.…”

Section: Introductionmentioning

confidence: 99%

Monetization of the Economies as a Priority of the New Monetary Policy in the Face of Economic Sanctions

Zenchenko

Strielkowski

Smutka

et al. 2022

JRFM

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The purpose of this paper is to conduct a comparative analysis of monetization as a priority of the new monetary growth of the economies using the example of the Russian economy, identifying new trends in global practices of monetary factor management, as well as the search for ways to stimulate economic growth using the best international experience. Our paper tackles the novel research question of whether changing the priorities of monetary policy from targeting (and curbing) inflation to stimulating economic growth might yield more favorable economic results and what best world practices should be appropriately introduced in Russia to improve the effectiveness of monetary policy. The key results of the paper are focused on a comparative analysis of the economies’ development under the influence of monetary factors in comparison with the most progressive economies, the study of the best practices for increasing the monetization of national economies, and the identification of recommendations for determining the most optimal way to increase economic growth through the monetization of the economy. Monetarist views on the decisive role of fiat money in the development of the real sector of the economy, capital markets, payment and settlement systems, the standard of living of the population, and other important aspects of macro- and microeconomics have become the mainstream of government regulation. It seemed that by finding the right indicators of the relationship between interest rates, GDP, and inflation, all problems of economic growth could be solved. By increasing the amount of money faster than the achieved economic growth, it was believed that it was possible to stimulate GDP growth through monetary investments and credit, i.e., more money was issued than the value produced represented by the goods and services. Accordingly, new money that had no value had to create new value. We argue that monetization can be seen as the main factor in providing such incentives. Our results can be useful for central bankers, policymakers, and stakeholders in the banking and financial sector. The conclusions and recommendations of the authors are based on studies conducted using such research methods as content analysis, logical analysis, and statistical analysis.

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Section: Introductionmentioning

confidence: 99%

Monetization of the Economies as a Priority of the New Monetary Policy in the Face of Economic Sanctions

Zenchenko

Strielkowski

Smutka

et al. 2022

JRFM

View full text Add to dashboard Cite

show abstract

“…Measures to reduce regulation, which were aimed at maintaining liquidity in the economy, were more pronounced. This can be explained by the fact that most economic activities were frozen, with many financial institutions facing problems [1].…”

Section: Introductionmentioning

confidence: 99%

The Impact of the Coronavirus Pandemic on Small and Medium-sized Enterprises in Russian Federation

Chernova

Natalia

2022

SHS Web Conf.

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The purpose of the article is to analyse the impact of COVID-19 on small and medium-sized businesses in the Russian Federation. Data from the research company “Evotor”, the unified register of small and medium-sized businesses, as well as data from the Central Bank of Russia were used as material for the study. Based on the results, it can be stated that the pandemic has affected the economy in different ways. A number of small and medium-sized businesses and their revenue decreased in 2021 compared to 2019. But at the same time, the sector of domestic tourism has grown over the period under review. The largest increase in the average revenue of hotels in 2021 compared to 2020 was observed in the Kaliningrad region, Krasnodar Krai and Moscow.

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Testing the impact of fiscal policies for economic recovery: does monetary policy act as catalytic tool for economic Survival

Leiling

Saydaliev

et al. 2022

Econ Change Restruct

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This study seeks to evaluate the efficacy of macroeconomic revamping policies operationalized after the pandemic by fiscal and monetary regulators to fight the pandemic in China. This study aims to assess what the Chinese economic recovery implies after the pandemic regarding economic expansion and energy consumption of different economies utilizing an econometric approximation relying on data throughout the COVID-19 phase. Within the extended stage, Chinese economic development spillover impacts attain the same effect on upper-middle-income nations' economic expansion of 0.18 percent, next to the economic development, of lower-middle-income countries of 0.15 percent and high-income nations. We discover proofs of robust direct provincial spillovers, implying that provinces tend to construct a cluster of high-performing and low-performing areas, a procedure that accentuates regional earnings variances. Applying the experience of revamping previous financial crisis, we replicate the impact of the pandemic on the competence of these, and by far, other upper limit income nations to build back better from the pandemic to jobs occasioned by proofs of the pandemic. The spillover impact of China's economic revival past the pandemic phase's carries a critical effect on the expansion in energy consumption in high-income nations, subsequently middle-income nations. As total factor productivity headwinds underpin economic growth, fiscal policy is the only policy that probably sustains the pollution intensities and concurrently advances household well-being regarding consumption and jobs.

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Monetary and Fiscal Policy Measures during the COVID-19 Economic Crisis in Russia

Cited by 10 publications

References 14 publications

Monetization of the Economies as a Priority of the New Monetary Policy in the Face of Economic Sanctions

Monetization of the Economies as a Priority of the New Monetary Policy in the Face of Economic Sanctions

The Impact of the Coronavirus Pandemic on Small and Medium-sized Enterprises in Russian Federation

Testing the impact of fiscal policies for economic recovery: does monetary policy act as catalytic tool for economic Survival

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