Distribution of Economic Policy Instruments in the Russian Economy

The purpose of the research is to determine the degree of influence of a set of classical instruments of macroeconomic policy on the development of the Russian economy. It is customary to set and solve the problem of resource allocation, to look for sources of resources for the development of a large-scale system, but the way the impact of government policies and tools is distributed is usually not taken into account either in modern growth models or in economic development planning. The research methodology includes, in addition to macroeconomic analysis, the regression analysis based on the Gretl 2020b program module, which allows you to determine the distribution of the impact of macroeconomic policy instruments on the growth rate and the gross value added of Russian economy. The result of the study is that in the period 2001–2019. There is no significant impact of inflation on the rate of economic growth, with a significant impact of the level of monetization and a significant impact of the high key interest rate that hinders growth. It reduced opportunities for the development of the “high tech”, and contributed to the development of the basic industry. The level of monetization had a positive effect on the growth rate and on the development of elements of the structure of the Russian economy. This revealed circumstance leads to the need for a differentiated selection of economic policy measures with a mandatory assessment of the sensitivity of the elements of the economic structure and general dynamics parameters to them. This study shows one of the options for a possible assessment of the distribution of economic policy measures in their impact on the functioning of economy by the growth rate and the gross value added.