Continuity and Novelty Features in the Economic Policy of Five Generations of the PRC Leadership

#6. Forecasts and Results
Continuity and Novelty Features in the Economic Policy of Five Generations of the PRC Leadership

After founding of the PRC in 1949 the economic policy of the country was formed by five generations of the Chinese leader. The program of “new democracy” and gradual socialist transformations, put forward initially, was interrupted by “accelerated construction of socialism”, by “the great leap forward and people’s communes”, and then — by decade of the “cultural revolution”. The new economic start initiated after putting forward the task of building “socialism with Chinese specifics”, requiring to follow the principle of “practice — criterion of truth”. “The center of gravity” in the party and state work shifted to economic construction, and in the subsequent more than 35 years of reforms social and economic course of the Chinese leadership was remaining consistent, being supplemented only by “creative discoveries” of the new generation of leaders.

Public Investments Impact on Economic Development

#9. Preserving humanness
Public Investments Impact on Economic Development

Increasing public investment in the Russian Federation to facilitate economic growth in the current situation is impossible, therefore the problem of improving their efficiency becomes increasingly important. The above issue has become the subject of many studies showing that public investments effectiveness varies considerably from country to country. It is affected by various factors: structural changes in the economy, sectoral funding distribution, applied mechanisms of planning, management and stimulation. Moreover, analyzing some countries’ experience of economic growth stimulation through public investment it is necessary to take into account their economic and historical situation, the resource base, as well as political attitudes. According to the theory, public investments do not always contribute to the economy dynamic development. At the same time, empirical studies prove that public capital invested in such sectors as transport, communication and education is effective as a whole. An important task is the analysis of mechanisms of priority investment projects state support, existing in the world practice, and their revision with regard to conditions and needs of the Russian Federation.