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Author: Lev M. Freinkman
Publisher: World Bank Publications
ISBN: 9780821345931
Category : Business & Economics
Languages : en
Pages : 146
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Book Description
"Not only are Russia's regions economically diverse, but the policies that regional governments have adopted to deal with the strains of economic transition also vary widely. Some regions have generally embraced market reforms, while others have sought to preserve enclaves of socialism, with price restrictions, large subsidies, and barriers to trade." Reforms of Russia's budgetary system at the subnational level are vital to preserve macroeconomic stability, improve the efficiency and accountability of government, and enhance incentives for local and regional governments to vigorously support economic growth. Previous analytical and reform efforts have focused on possible changes at the federal level and in the system of center-region relations. An opportunity now exists to make progress by providing reform advice and conditional aid to policymakers at the regional and subregional level. This report focuses on opportunities for reform at the subnational level. It reviews recent trends in fiscal adjustment, budgeting, and government debt at the regional and local levels in Russia. It analyzes major problems and suggests a number of measures and performance indicators that could form part of a reform strategy initiated by the Government of Russia.
Author: Lev M. Freinkman
Publisher: World Bank Publications
ISBN: 9780821345931
Category : Business & Economics
Languages : en
Pages : 146
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Book Description
"Not only are Russia's regions economically diverse, but the policies that regional governments have adopted to deal with the strains of economic transition also vary widely. Some regions have generally embraced market reforms, while others have sought to preserve enclaves of socialism, with price restrictions, large subsidies, and barriers to trade." Reforms of Russia's budgetary system at the subnational level are vital to preserve macroeconomic stability, improve the efficiency and accountability of government, and enhance incentives for local and regional governments to vigorously support economic growth. Previous analytical and reform efforts have focused on possible changes at the federal level and in the system of center-region relations. An opportunity now exists to make progress by providing reform advice and conditional aid to policymakers at the regional and subregional level. This report focuses on opportunities for reform at the subnational level. It reviews recent trends in fiscal adjustment, budgeting, and government debt at the regional and local levels in Russia. It analyzes major problems and suggests a number of measures and performance indicators that could form part of a reform strategy initiated by the Government of Russia.
Author: Jorge Martinez-Vazquez
Publisher: World Bank Publications
ISBN: 0821365584
Category : Political Science
Languages : en
Pages : 222
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Book Description
The exposition is based on an analytical framework covering all ?building blocks? of fiscal federalism: size and structure of jurisdictions, expenditures, revenues, transfers, and borrowing. The application of this framework to Russian settings results in a comprehensive assessment of the state of intergovernmental fiscal relations in Russia.
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: 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.
Author: Mr.David Edwin Wynn Owen
Publisher: International Monetary Fund
ISBN: 9781589062078
Category : Business & Economics
Languages : en
Pages : 196
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Book Description
Russia Rebounds analyzes Russia’s dramatic economic recovery since the country’s 1998 financial crisis, emphasizing macroeconomic issues and fiscal and banking sector reforms. The crisis was a massive shock to the system and a considerable surprise to both Russians and foreign investors, who a year before had come to think that the worst of the transition from a centrally planned to a market economy was over. Macroeconomic performance since the crisis has been impressive. The book assesses the contribution of various factors underlying this recovery and highlights key policy challenges to ensure its sustainability.
Author: Mr.Manmohan S. Kumar
Publisher: International Monetary Fund
ISBN: 158906609X
Category : Business & Economics
Languages : en
Pages : 144
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Book Description
Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities. Discipline is especially important if countries, industrial as well as developing, are to successfully meet the challenges, and reap the benefits, of economic and financial globalization. Lack of fiscal discipline generally stems from the injudicious use of policy discretion. The benefits of discretion are seen in terms of the ability of policymakers to respond to unexpected shocks and in allowing elected political representatives to fulfill their mandates. But discretion can be misused, resulting in persistent deficits and procyclical policies, rising debt levels, and, over time, a loss in policy credibility. The authors first explore the role of discretion in fiscal policy, and the extent, consequences, and causes of procyclicality, particularly in good times. They then examine how a variety of institutional approaches—fiscal rules, fiscal responsibility laws, and fiscal agencies—can help improve fiscal discipline. While each of these approaches can play a useful role, the authors suggest that a strategy combining them is likely to be particularly beneficial. Although such a strategy requires political commitment and effective fiscal management, at the same time, the strategy itself can bolster political commitment by highlighting the restraints on government and raising the costs of failing to respect them.
Author: Anwar Shah
Publisher: World Bank Publications
ISBN: 0821369245
Category : Business & Economics
Languages : en
Pages : 300
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Book Description
This book provides rigorous and provocative understanding of the art and practice of participatory budgeting for those interested in strengthening inclusive and accountable governance.
Author: A.M. Lavrov
Publisher: Taylor & Francis
ISBN: 1040286097
Category : Political Science
Languages : en
Pages : 308
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Book Description
Rich with data available in no other source, this is the first comprehensive study of the allocation of state and public financial resources in the Russian Federation. Working with the Russian Ministry of Finance, the Ministry of Economy, the Ministry of Taxes and Duties, and the Russian Statistical Agency, the authors have compiled a dynamic analysis of financial flows between the center and the units of the federation, including both budgetary redistribution and off-budget outlays (e.g., for social insurance and pensions). Among the problems documented in the analysis are the very high differentiation of the regions in terms of levels of development, public welfare, and self-sufficiency; inefficiencies in the taxation system and the prevalence of barter; and the non-transparency of money flows and their role in corruption.
Author: Michiel S. de Vries
Publisher: Springer
ISBN: 3030020770
Category : Political Science
Languages : en
Pages : 279
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Book Description
This book provides a comparative analysis of performance budgeting and financing implementation, and examines failures and successes across both developed and developing countries. Beginning with a review of theoretical research on performance budgeting and financing, the book synthesises the numerous studies on the subject. The book describes the situation in the US, Australia, New Zealand, Germany, Austria and Switzerland, Netherlands and Italy, as well as in seven developing countries - Bulgaria, Czech Republic, Slovakia, Slovenia, Ukraine, Russia and South Africa, at the national, and at the local level. Each chapter provides historical and descriptive details of successful or failed experiments in performance budgeting and performance financing.
Author: George M. Guess
Publisher: Cambridge University Press
ISBN: 1107198291
Category : Business & Economics
Languages : en
Pages : 287
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Book Description
This analysis of budgetary systems and policies across the world examines how politics, culture, and economics influence public finance.
