Factors of military Keynesianism in modern economic policy in Russia

O. V. Buklemishev ()

Voprosy Ekonomiki, 2024, issue 11

Abstract: Historical aspects, general economic logic and theoretical discussions around military Keynesianism as a policy of stimulating the economy through increased government allocations for defense items are considered. A brief overview of empirical studies on the economic results of military spending is presented. In relation to the period 2022—2024 in the Russian economy, the size of the fiscal impulse due to defense budget items, its positive and negative effects are analyzed. The secondary nature and low controllability of economic effects of defense policy are emphasized. Among the factors hindering the success of military Keynesianism in modern Russia, limited spare capacity and labor are noted, which generate inflationary consequences, as well as the contradiction between tightening monetary conditions and continued fiscal stimulus. The conclusion is made about the predominance and possible aggravation of negative consequences of the expansion of financing through military spending

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2024:id:5104

DOI: 10.32609/0042-8736-2024-11-5-17

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