European Parliament Library

Russia's Regions :, Income Volatility, Labor Mobility and Fiscal Policy, Goohoon Kwon, Antonio Spilimbergo

Abstract
Russia's regions are heavily exposed to regional income shocks because of an uneven distribution of natural resources and a Soviet legacy of heavily skewed regional specialization. Also, Russia has a limited mobility of labor and lacks fiscal instruments to deal with regional shocks. We assess how these features influence the magnitude and persistence of regional income shocks, through a panel vector autoregression, drawing on extensive and unique regional data covering last decade. We find that labor mobility associated with regional shocks is far lower than in the United States yet higher than in the EU-15, and that regional expenditures tend to expand in booms and contract in recessions. We discuss institutional factors behind these outcomes and policy implications
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. TALE OF THREE ADJUSTMENT MECHANISMS""; ""III. EMPIRICAL EVIDENCE OF FISCAL IMPACT OF REGIONAL INCOME SHOCKS""; ""IV. THE ROLE OF CENTRAL GOVERNMENTS IN ABSORBING REGIONAL SHOCKS""; ""V. CONCLUSIONS""; ""References""
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (19 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781452777405

Library Locations

  • EP Library Luxembourg

    Rue du Fort Thüngen, Luxembourg, L-1313, LU
    Borrow
  • EP Library Brussels

    60 rue Wiertz, Brussels, B-1047, BE
    Borrow
  • EP Library Strasbourg

    7 Place Adrien Zeller, Allée du Printemps, Strasbourg, F-67070, FR
    Borrow