Regional Disparities and Fiscal Federalism in Russia PDF Download
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Author: Oksana Dynnikova
Publisher: International Monetary Fund
ISBN: 1513573640
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
This paper examines how regional disparities have evolved in Russia and how Russia’s system of intergovernmental fiscal relations is managing these disparities. Regional disparities have fallen over the past two decades but remain relatively high. Socioeconomic outcomes remain worse in lagging regions despite faster growth and convergence in income levels. The twin shocks of COVID-19 and lower oil prices appear to have impacted richer regions disproportionately. Compared to other large countries with federal systems of government, Russia stands out with its high reliance on direct taxes as a revenue source for its regions. Transfers from the federal budget to the regions provide some redistribution by reducing the dispersion in real per capita fiscal spending, but also tend to be associated with lower growth. The Russian fiscal system offers degrees of redistribution and risk sharing of around 26 and 18 percent, respectively—with in-kind social transfers contributing the most. Finally, federal transfers in the aggregate tend to be procyclical and are also fairly unresponsive to shocks to regions’ own revenues.
Author: Oksana Dynnikova
Publisher: International Monetary Fund
ISBN: 1513573640
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
This paper examines how regional disparities have evolved in Russia and how Russia’s system of intergovernmental fiscal relations is managing these disparities. Regional disparities have fallen over the past two decades but remain relatively high. Socioeconomic outcomes remain worse in lagging regions despite faster growth and convergence in income levels. The twin shocks of COVID-19 and lower oil prices appear to have impacted richer regions disproportionately. Compared to other large countries with federal systems of government, Russia stands out with its high reliance on direct taxes as a revenue source for its regions. Transfers from the federal budget to the regions provide some redistribution by reducing the dispersion in real per capita fiscal spending, but also tend to be associated with lower growth. The Russian fiscal system offers degrees of redistribution and risk sharing of around 26 and 18 percent, respectively—with in-kind social transfers contributing the most. Finally, federal transfers in the aggregate tend to be procyclical and are also fairly unresponsive to shocks to regions’ own revenues.
Author: Jorge Martinez-Vazquez
Publisher: World Bank Publications
ISBN: 9780821348406
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
WBI Learning Resources discuss issues in economic development policy and lessons from experience in a way that can be understood by non-specialists. This is the first in a series that will look at governance and decentralisation and looks at the implications of federalism on the growth of Russia's economy. In particular it looks at the impact of fiscal decentralisation as the way intergovernmental finances are resolved influences the transition and macroeconomic stability.
Author: Gabriel Di Bella
Publisher: International Monetary Fund
ISBN: 1484330668
Category : Business & Economics
Languages : en
Pages : 23
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Book Description
Sound regional policies are essential for balanced and sustained economic growth. The interaction of federal and regional policies with cross-regional structural differences affect human and physical capital formation, the business climate, private investment, market depth, and competition. This paper summarizes the main elements of Russia's fiscal federalism, describes the channels through which it operates, and assesses the effectiveness of regional transfers in reducing regional disparities. The results suggest that federal transfers to regions contributed to reducing disparities arising from heterogeneous regional tax bases and fiscal revenues. This allowed regions with initially lower per capita income to increase human and physical capital at higher rates. There is little evidence for transfers contributing to increased cross-regional growth synchronization. The results also suggest that federal transfers did not significantly improve regional fiscal sustainability, a conclusion that is supported by the lack of convergence in per capita real income across Russian regions in the last 15 years.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264912959
Category :
Languages : en
Pages : 290
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Book Description
Fiscal Federalism 2022 surveys recent trends and policies in intergovernmental fiscal relations and subnational government. Accessible and easy-to-read chapters provide insight into: good practices in fiscal federalism; the design of fiscal equalisation systems; measuring subnational tax and spending autonomy; promoting public sector performance across levels of government; digitalisation challenges and opportunities; the role of subnational accounting and insolvency frameworks; funding and financing of local government public investment; and early lessons from the COVID-19 crisis for intergovernmental fiscal relations.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264897909
Category :
Languages : en
Pages : 238
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Book Description
This report looks at the challenges faced by Asian countries in addressing inclusive growth and fiscal decentralisation. A series of studies examines how policies in the region have evolved in accordance with changes in demography and the economic environment, reflecting country characteristics, history and political economy forces.
Author: Kitty Stewart
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
An examination of the combined impact of decentralization and diversity on regional equality of service provision in Russia, and in particular on the provision of education. It begins with an analysis of the system of intergovernmental transfers and goes on to explore the nature and extent of disparities in education spending, paying particular attention to regions where spending has fallen furthest.
Author: Era Dabla-Norris
Publisher: International Monetary Fund
ISBN:
Category : Regional disparities
Languages : en
Pages : 30
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Book Description
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1484308212
Category : Business & Economics
Languages : en
Pages : 94
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Book Description
This paper focuses on the task that may be more complicated when the adjustment in relative prices is driven by a negative terms of trade (ToT) shock. Two sets of factors are explored: disruptiveness of sudden terms-of-trade driven devaluations and issues related to external demand and access to external markets. The argument that a reduction in commodity prices will unwind the Dutch disease assumes symmetry: since increasing commodity prices drove resources out of the non-commodity tradable sector, decreasing commodity prices and ensuing real depreciation should bring resources back into the nontradable sector. Effectively, this implies that the magnitude of the elasticity of non-commodity exports to the real effective exchange rate (REER) is equal regardless of the direction of the REER movement, and is not affected by the phase of the commodity cycle. Deep linkages between the commodity and non-commodity sectors can prevent the non-commodity tradable sector from taking advance of the depreciation caused by a commodity price shock because such depreciation puts under stress the entire economy.
Author: Michael Alexeev
Publisher: Oxford University Press
ISBN: 0199759928
Category : Business & Economics
Languages : en
Pages : 864
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Book Description
This Handbook is the most comprehensive up-to-date study of the Russian economy available. Russian and western authors analyze the current economic situation, trace the impact of Soviet legacies and of post-Soviet transition policies, examine the main social challenges, and propose directions for reforms.
Author: Organisation for Economic Co-operation and Development
Publisher:
ISBN: 9789264626980
Category :
Languages : en
Pages : 188
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Book Description
This report offers a comprehensive overview of decentralisation policies and reforms in OECD countries and beyond. Sometimes called a "silent" or "quiet" revolution, decentralisation is among the most important reforms of the past 50 years. The report argues that decentralisation outcomes - in terms of democracy, efficiency, accountability, regional and local development - depend greatly on the way it is designed and implemented. Making the most of decentralisation systems is particularly crucial in the context of a "geography of discontent" and growing divides between places that feel left behind by globalisation and technological change and those that may benefit from the opportunities offered by megatrends. The report identifies 10 guidelines for making decentralisation work and allowing it to be conducive to regional development. Beyond the guidelines, the report proposes concrete tools for policy-makers, including detailed sets of recommendations, checklists, pitfalls to avoid and examples of good practices, both in unitary and federal countries.
