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Financial Systems and economic Development in the Russian Regions: A Comparative Analysis
https://doi.org/10.32609/0042-8736-2015-10-94-108
Abstract
The paper identifies and assesses the closeness of the connection between incremental indicators of the financial development in the regions of Russia with the incremental regional GDP and the investment in fixed capital. It is shown that the positioning of the region as an independent participant of public debt market matters: the regional GDP and investment in fixed capital grow more rapidly in the regions which are regularly borrowing on the sub-federal bonds market. The paper also demonstrates that the poorly developed financial system in some regions have caused the imperfection of the growth mechanisms since the economy is not able to use the financial system’s functions.
About the Author
K. Krinichansky
South Ural State University (National Research University). (Chelyabinsk, Russia)
Russian Federation
Russian Federation
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Review
For citations:
Krinichansky K. Financial Systems and economic Development in the Russian Regions: A Comparative Analysis. Voprosy Ekonomiki. 2015;(10):94-108. (In Russ.) https://doi.org/10.32609/0042-8736-2015-10-94-108
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