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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.
Electronic books. -- local. --- Fiscal policy -- Russia (Federation) -- Econometric models. --- Income -- Russia (Federation) -- Econometric models. --- Labor mobility -- Russia (Federation) -- Econometric models. --- Russia (Federation) -- Economic conditions -- Econometric models. --- Investments: Energy --- Labor --- Macroeconomics --- Public Finance --- Multiple or Simultaneous Equation Models: Models with Panel Data --- Fiscal Policy --- Intergovernmental Relations --- Federalism --- Secession --- Geographic Labor Mobility --- Immigrant Workers --- Comparative Studies of Particular Economies --- Personal Income, Wealth, and Their Distributions --- Aggregate Factor Income Distribution --- Energy: General --- Investment & securities --- Labour --- income economics --- Personal income --- Income shocks --- Fiscal policy --- Oil --- Labor mobility --- National accounts --- Commodities --- Income --- Petroleum industry and trade --- Russian Federation --- Econometric models. --- Russia (Federation) --- Economic conditions --- Income economics
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"This book investigates the relationship between the character of political regimes in Russia's subnational regions and the structure of earnings and income. Based on extensive data from Russian official sources and surveys conducted by the World Bank, the book shows that income inequality is higher in more pluralistic regions. It argues that the relationship between firms and government differs between more democratic and more authoritarian regional regimes. In more democratic regions, business firms and government have more cooperative relations, restraining the power of government over business and encouraging business to invest more, pay more, and report more of their wages. Average wages are higher in more democratic regions and poverty is lower, but wage and income inequality are also higher. The book argues that the rising inequality in postcommunist Russia reflects the inability of a weak state to carry out a redistributive social policy"--
Income --- Income distribution --- Poverty --- Wealth --- Equality --- Democracy --- RU / Russia - Rusland - Russie --- 202 --- 313 --- 339.21 --- Sociale organisatie. --- Levenswijze en levensstandaard. Levensminimum. sociale indicatoren (Studiën). --- Ongelijkheid en herverdeling van vermogens en inkomens. Inkomensbeleid. --- Affluence --- Distribution of wealth --- Fortunes --- Riches --- Business --- Economics --- Finance --- Capital --- Money --- Property --- Well-being --- Family income --- Household income --- Personal income --- Gross national product --- Profit --- Purchasing power --- Distribution of income --- Income inequality --- Inequality of income --- Distribution (Economic theory) --- Disposable income --- Egalitarianism --- Inequality --- Social equality --- Social inequality --- Political science --- Sociology --- Liberty --- Self-government --- Representative government and representation --- Republics --- Sociale organisatie --- Levenswijze en levensstandaard. Levensminimum. sociale indicatoren (Studiën) --- Ongelijkheid en herverdeling van vermogens en inkomens. Inkomensbeleid --- Income - Russia (Federation) --- Income distribution - Russia (Federation) --- Poverty - Russia (Federation) --- Wealth - Russia (Federation) --- Equality - Russia (Federation) --- Democracy - Russia (Federation)
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