Content №2 от 2002
Integration of economic policy in the context of globalisation and regionalisation
The distribution of instruments of economic policy among different levels of power in the Russian Federation is compared with that in the USA and EU. It is seen that the process of globalisation reduces national economies into "quasi-regions" when governmental monetary and trade policies are ever more dependent on the world organisations (IMF, WTO etc.) and when the role of the regional level of power increases. The main instrument of economic policy at all levels is the fiscal instrument. In Russia, regional governments cannot effectively influence the economy because of a strong asymmetry in its federal structure. The consistent policy of economic integration currently implemented in the federal districts will address this asymmetry.
