Pragmatism behind the Din
Fiscal, Monetary, and Exchange Rate Policy in Russia
Deutsche Fassung
Abstract
Russia for the last 15 years has pursued a stability-oriented fiscal, monetary, and currency policy. The goal has been budget surpluses, or at most a minimum of new debt, as well as the fight against inflation. On the other hand, left-wing, nationalist academics and publicists, as well as lobbyists from sectors outside the oil and gas industry, are vehemently demanding a “major breakthrough” in the direction of growth-oriented, interventionist economic management. Throughout his tenures as president and prime minister, Vladimir Putin has so far supported the course of the government and the central bank. Change is not in sight.
(Osteuropa 11-12/2015, pp. 51–69)