This paper reviews and summarizes the literature that has concentrated on budget consolidations and their fiscal and economic effects. The issue of fiscal adjustments has again gained importance due to the recent economic crisis and the resulting fiscal imbalances. The existing literature shows...

The model of the Russian economy that was formed in the 2000s does not match a new stable growth path, though it helped to calmly overcome the crisis of 2008 and 2009. The state needs to provide stability in the fields under its direct control, i.e. the budgetary and monetary policies. In the...