Russian Journal of Economics and Law (Dec 2019)
Mechanism of making legislative decisions in the Russian Federation as a method of economic regulation: based on the analysis of quantitative data of LAWSTREAM.RU database
Abstract
Objective: to consider the use of legislative decision-making mechanisms in the Russian Federation as a tool of economic regulation on the basis of quantitative data of LAWSTREAM.RU database and to confirm or refute the hypothesis that the failures in the GDP growth dynamics encourage the state regulator to intensify rulemaking.Methods: abstract-logical method, comparison, correlation analysis.Results: the mechanism of legislative decision-making can and should be considered as a tool for the economic regulation policy implementation. The effectiveness of reforms is determined by the way in which the government, as the regulatory body of the economic system, uses the existing mechanisms of legislative decision-making in the field of economic regulation. The paper analyzes the institutional aspects of economic reforms. The authors compare the quantitative dynamics of the law drafts in the sphere of economic relations submitted to the State Duma and adopted by it, and the dynamics of the Russian GDP growth in 1994-2018. The correlation is shown between the macroeconomic situation and the legislative activity of the President and government in economic sphere; the hypothesis is confirmed about the influence of the GDP growth on the President and government’s legislative activity in the sphere of economy and finance regulation in case of sharply negative GDP values. It is established that the peak of the state regulator’s activity in the regulatory sphere is the system reaction to shock, expressed in a sharp drop in GDP growth.Scientific novelty: the article is the first attempt to compare the quantitative indicators of the adopted law drafts in the sphere of economy regulation and the GDP dynamics.Practical significance: the results obtained by the authors are useful for describing the model of legislative influence of the Russian executive authorities on the economic environment, taking into account the current macroeconomic indicators.
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