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Main Trends of Subfederal Fiscal Policy

Author

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  • T.V.Sumskaya (tanyushka333@yahoo.com )

Abstract

The paper defines conditions necessary for a financial base of a local government, proposes a technique to analyze the structure, fiscal sustainability and efficiency of subfederal fiscal policy examined on the basis of fiscal data on Novosibirsk Oblast for the period 2006–2012. We have assessed the structure of the local budget in Novosibirsk Oblast and calculated characteristics of inhomogeneity of fiscal indicators before and after regional budget allocation. The obtained results indicate that inhomogeneity of budget revenues reduces after municipal governments are funded from the regional budget. We identify territories influencing significantly the differentiation indices taking into account funds from a superior budget. Having assessed the how effective the stimuli increase tax revenues of local budget, we can draw a conclusion that the used stimuli work towards saving and developing tax potential of municipal institutions. In general, subfederal fiscal policy is focused on optimizing local revenue base foundation and execution

Suggested Citation

  • T.V.Sumskaya (tanyushka333@yahoo.com ), 2014. "Main Trends of Subfederal Fiscal Policy," Journal "Region: Economics and Sociology", Institute of Economics and Industrial Engineering of Siberian Branch of RAS, vol. 3.
    • Handle: RePEc:nos:regioe:2014-3_3
    Note: Regional Policy and Economic Issues of Federalism
    as

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