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Economic policy priorities for sustainable economic growth

Vol. 25, Iss. 8, AUGUST 2019

Received: 16 July 2019

Received in revised form: 30 July 2019

Accepted: 13 August 2019

Available online: 30 August 2019

Subject Heading: MONETARY ACCOMMODATION

JEL Classification: E52, E58, E62, G21, F43

Pages: 1821–1834

https://doi.org/10.24891/fc.25.8.1821

Altunyan A.G. Saint-Petersburg State University (SPbSU), St. Petersburg, Russian Federation
dioskuriya-box@mail.ru

https://orcid.org/0000-0002-0438-7658

Kotsofana T.V. Saint-Petersburg State University (SPbSU), St. Petersburg, Russian Federation
tankotsofan@mail.ru

https://orcid.org/0000-0003-0219-7508

Subject This article discusses the issues of stimulating the economic growth in Russia using economic policy instruments.
Objectives The article aims to identify the most effective mechanism of interaction between fiscal and monetary regulations to ensure the conditions for sustainable economic growth in Russia.
Methods For the study, we used the methods of logical and statistical analyses.
Results The article shows that reaching the inflation target at the expense of the interests of the population and real sector of economy can lead to the opposite effects, namely, an investment activity decline instead of its increase.
Conclusions The article concludes about a necessity to prioritize economic policies that ensure better conditions for the country's sustainable economic growth.

Keywords: fiscal policy, monetary policy, economic growth, inflation targeting, interest rate

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