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Debt Strategies of Russian Regions
https://doi.org/10.32609/0042-8736-2015-10-78-93
Abstract
The article considers debt management practices by Russian regions and municipalities, within a framework set by federal budgetary legislation and practices of state-controlled banks. Key drivers of regional and municipal debt policy are analyzed, and Russian regions are stratified by their debt policy. Current recession is likely to produce higher level of regional debt and changes in its structure, lowering reliance on market funding and decreasing variations in pursued debt policy.
Keywords
Russian regions,
fiscal balance,
debt management,
interbudgetary loans,
municipal bonds,
credit ratings
JEL: H74, R12
About the Authors
A. Tabakh
National Research University Higher School of Economics (Moscow, Russia)
Russian Federation
Russian Federation
D. Andreeva
Lomonosov Moscow State University (Moscow, Russia)
Russian Federation
Russian Federation
References
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Review
For citations:
Tabakh A., Andreeva D. Debt Strategies of Russian Regions. Voprosy Ekonomiki. 2015;(10):78-93. (In Russ.) https://doi.org/10.32609/0042-8736-2015-10-78-93
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