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Regions of Russia in the new economic realities

Author

Listed:
  • Zubarevich, N.

    (Lomonosov Moscow State University, Moscow, Russia
    Institute of Social Analysis and Forecasting, Russian Presidential Academy of National Economy and Public Administration, Moscow, Russia)

Abstract

In the fi rst three months of the sanctions' crisis, regions connected with the global market were hit harder: these are the exporters of oil, gas, metals, and regions of the manufacturing industries with a high share of imported components. The infl uence of specialization has increased; in industry the decline is stronger in the regions of the automotive industry, oil and gas production, ferrous metallurgy. The decline in retail sales is stronger in the agglomerations of the largest cities due to the departure of foreign companies and in some regions with low incomes, where the population is faster reducing consumption. The decline or stagnation of personal income tax revenues in May 2022 manifested in the regions of the fuel complex, metallurgy, in some depressed regions and in underdeveloped Republics, where the share of shadow business may increase. The risks of part-time employment are higher in the industrial regions of the Center, the Volga district and part of the Urals. The employment reduction risks in the market services are higher in agglomerations and other major cities, in part of the depressed regions; in resort regions they are mitigated by increased home tourism. The risks of regional budgets tax revenues decline are strongest in more developed and export-oriented regions. The Southern agrarian regions and the Far East (with the exception of Sakhalin) are going through the crisis more mildly due to the home demand for food products and its exports, and for the Far Eastern regions - due to orientation to the Asian markets, especially China. Moscow is likely to go through a new crisis, like the two previous ones, softer than other regions, especially in terms of the dynamics of household incomes and the budget revenues.

Suggested Citation

  • Zubarevich, N., 2022. "Regions of Russia in the new economic realities," Journal of the New Economic Association, New Economic Association, vol. 55(3), pages 226-234.
    • Handle: RePEc:nea:journl:y:2022:i:55:p:226-234
    DOI: 10.31737/2221-2264-2022-55-3-15
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    References listed on IDEAS

    as
    1. Neuenkirch, Matthias & Neumeier, Florian, 2016. "The impact of US sanctions on poverty," Journal of Development Economics, Elsevier, vol. 121(C), pages 110-119.
    2. Moghaddasi Kelishomi, Ali & Nisticò, Roberto, 2022. "Employment effects of economic sanctions in Iran," World Development, Elsevier, vol. 151(C).
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    4. Zubarevich, N., 2021. "Regions of Russia during a pandemic: Socio-economic dynamics and budget revenues," Journal of the New Economic Association, New Economic Association, vol. 51(3), pages 208-218.
    5. Neuenkirch, Matthias & Neumeier, Florian, 2015. "The impact of UN and US economic sanctions on GDP growth," European Journal of Political Economy, Elsevier, vol. 40(PA), pages 110-125.
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    Citations

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    Cited by:

    1. Zemtsov, S. & Voloshinskaya, A., 2024. "Russian regional resilience under sanctions," Journal of the New Economic Association, New Economic Association, vol. 64(3), pages 54-83.
    2. M. Yu. Malkina & R. V. Balakin, 2024. "Impact of External Shocks on Tax Revenue Stress in Russian Regions," Regional Research of Russia, Springer, vol. 14(1), pages 1-13, March.
    3. M. Yu. Malkina, 2024. "Real Income Stress in Russian Regions Amid the Pandemic and Sanctions," Regional Research of Russia, Springer, vol. 14(2), pages 109-125, June.
    4. N. N. Mikheeva, 2024. "Regional Projection of Russia’s Economic Development in 2022–2023," Studies on Russian Economic Development, Springer, vol. 35(6), pages 845-853, December.
    5. M. Yu. Malkina, 2025. "Industry of Russian Regions under New Anti-Russian Sanctions," Regional Research of Russia, Springer, vol. 15(1), pages 41-56, March.
    6. N. N. Mikheeva, 2023. "Adaptation of the Spatial Structure of the Russian Economy to External Shocks," Studies on Russian Economic Development, Springer, vol. 34(6), pages 871-879, December.
    7. A. G. Druzhinin & V. A. Kolosov, 2025. "Spatial Development Strategy for Russia Up to 2030: Innovations and Tasks for Solution," Studies on Russian Economic Development, Springer, vol. 36(4), pages 466-473, August.
    8. Zemtsov, S., 2025. "Sources of business activity growth in the Russian regions during the external shocks," Journal of the New Economic Association, New Economic Association, vol. 66(1), pages 291-300.
    9. Alina Urazbaeva, 2025. "Response of micro, small, and medium-sized companies to the sanctions: Evidence from the Russian regions," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 78, pages 50-65.

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    JEL classification:

    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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