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Effectiveness of Legislative Restrictions on Debt Burden of the Russian Regions

Author

Listed:
  • Oleg V. Buklemishev

    (Faculty of Economics, Moscow State University, Moscow 119991, Russia)

  • Denis L. Mikhaylov

    (Moscow Financial Agency Public Budgetary Institution, Moscow 119454, Russia)

  • Vladimir V. Solovyev

    (Moscow Financial Agency Public Budgetary Institution, Moscow 119454, Russia)

  • Igor G. Fetisov

    (Moscow Financial Agency Public Budgetary Institution, Moscow 119454, Russia)

Abstract

Lately the debt burden of the Russian regional authorities has been increasing markedly. On the basis of analysis of the Russian regions’ budget indicators and the structure of their debt, recommendations are made to adjust and improve the system of indicators controlling the budget deficit, the level of debt and borrowings of the federal subjects. In particular, it is proposed to rule out the usage of planned budget figures and change the basis in calculation of expenditures maximum of the regional public debt.

Suggested Citation

  • Oleg V. Buklemishev & Denis L. Mikhaylov & Vladimir V. Solovyev & Igor G. Fetisov, 2018. "Effectiveness of Legislative Restrictions on Debt Burden of the Russian Regions," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 3, pages 34-48, June.
    • Handle: RePEc:fru:finjrn:180303:p:34-48
    DOI: 10.31107/2075-1990-2018-3-34-48
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    References listed on IDEAS

    as
    1. N. Zubarevich., 2015. "Regional Dimension of the New Russian Crisis," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 4.
    2. V. Tambovtsev., 2017. "Planning and opportunism," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 1.
    3. Alexander D. Andryakov, 2017. "Balance and Sustainability of Regional Budgets in 2008–2016," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 25-39, December.
    4. Kudrin, Alexey L. (Кудрин, Алексей) & Deryugin, Alexander N. (Дерюгин, Александр), 2018. "Subnational Budget Rules: Foreign and Russian Experience [Субнациональные Бюджетные Правила: Зарубежный И Российский Опыт]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 8-35, February.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    subfederal finance; regional public debt; debt burden; debt sustainability;
    All these keywords.

    JEL classification:

    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
    • H74 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Borrowing
    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism

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