2020
DOI: 10.1108/jpbafm-07-2020-0123
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Fiscal resilience of Russia's regions in the face of COVID-19

Abstract: PurposeThe purpose of the study was to analyze how COVID-19 pandemic affects regional budgets and regional fiscal resilience in Russia.Design/methodology/approachThe research article is structured as follows. Based on the official data from the Ministry of Finance, the Federal Treasure and the Accounts Chamber of the Russian Federation, first, the state of Russian regional budgets before and under COVID-19 is analyzed. Second, due to the increase of regional spending commitments under pandemic the regional deb… Show more

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Cited by 31 publications
(21 citation statements)
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References 14 publications
(12 reference statements)
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“…Rarely have any attempts been made in prior work to unfold governmental financial resilience in emerging economy contexts, except for de Aquino and Cardoso's (2017) work on Brazil and Klimanov et al's (2020) work on Russia. The former investigates the financial resilience patterns of four Brazilian municipalities in an unexpected revenue downturn, whereas the latter examines the resilience of Russia's regions facing the COVID-19 pandemic.…”
Section: Governmental Financial Resiliencementioning
confidence: 99%
“…Rarely have any attempts been made in prior work to unfold governmental financial resilience in emerging economy contexts, except for de Aquino and Cardoso's (2017) work on Brazil and Klimanov et al's (2020) work on Russia. The former investigates the financial resilience patterns of four Brazilian municipalities in an unexpected revenue downturn, whereas the latter examines the resilience of Russia's regions facing the COVID-19 pandemic.…”
Section: Governmental Financial Resiliencementioning
confidence: 99%
“…In addition, scientists explore the resilience of various regional economies to economic crises, including pandemics (Brada et al, 2021;Mikheeva, 2021), and the factors affecting resilience (Kolomak, 2020;Pietro et al, 2020). Few studies directly focus on the response of the Russian regional fiscal systems, their revenues and expenditures, and the level of debt to the 2020 pandemic (Klimanov et al, 2021). A number of researchers emphasize the importance of the sectoral structure of the economy (Kuznetsova, 2020), as well as the degree of openness and the level of economic diversification (Malkina, 2020) for a change in GRP and losses in fiscal revenues of regions in bad times.…”
Section: Literature Reviewmentioning
confidence: 99%
“…These problems have highlighted the importance of budget institutions and sound interjurisdictional governance. Countries that have effective interjurisdictional transfers and assistance programs, such as a national or regional relief system to help subnational governments in times of needs (Ahrens and Ferry, 2020; Cho and Kurpierz, 2020; Joyce and Prabowo, 2020; Klimanov et al , 2020; Nemec and Špaček, 2020), or a supranational government like the European Union or have access to assistance programs under some international organizations, such as the International Monetary Fund (IMF) and the World Bank (WB) that can pool resources from different countries to bail out struggling states and maintain regional political, economic and social stability, are better equipped to address unexpected disasters and reduce the harms of inequalities in societies and economies.…”
Section: Budgetary Responses To Covid-19 From Around the Globementioning
confidence: 99%