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Book Cover
Author Kwon, Goohoon, author

Title Russia's regions : income volatility, labor mobility, and fiscal policy / prepared by Goohoon Kwon and Antonio Spilimbergo
Published Washington, D.C. : International Monetary Fund, European Dept. and Research Dept., [2005]
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Description 1 online resource (18 pages) : illustrations
Series IMF working paper ; WP/05/185
IMF working paper ; WP/05/185
Summary 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
Bibliography Includes bibliographical references
Notes Print version record
Subject Fiscal policy -- Russia (Federation) -- Econometric models.
Income -- Russia (Federation) -- Econometric models.
Labor mobility -- Russia (Federation) -- Econometric models.
Russia (Federation) -- Economic conditions -- Econometric models.
Form Electronic book
Author Spilimbergo, Antonio, author
International Monetary Fund. European Department, issuing body
International Monetary Fund. Research Department, issuing body
ISBN 1283512092