Home  Journals  National Interests: Priorities and Security  28(265) - 2014 July

Evaluation of the effectiveness of fiscal policy: retrospective and goal-oriented approaches

Available online: 18 July 2014

Subject Heading: Priorities of Russia

JEL Classification: 

Pages: 2-10

The paper examines the approaches to assessment of the effectiveness of fiscal policy. It summarizes the results of empirical studies on the effects of fiscal incentives on macroeconomic performance. It shows that considerable variation and even contradictory econometric estimates indicate some restrictions on methods of statistical analysis of historical data. The author grounds the goal-oriented approach to assessing the effectiveness of fiscal policy in the unity of its results, objectives and instruments. The author also refines the structure and hierarchy of objectives of fiscal policy from the perspective of a new model of socio-economic development.

Keywords: fiscal policy, efficiency, fiscal multipliers, goal-oriented approach

References:

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