Analysis on Inter-Regional Financial Flow in Russia

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(1) We examined statistics by regions in Russia, including regional GDP, foreign trade, hard currency receipts, foreign investments, budget and tax revenues, and clarified various problems of these statistics.(2) We analyzed inter-regional financial flows of budget resources. Especially, we investigated inter-budgetary relations, including the system of financial transfer between federal and regional budgets. We also made a research on regional budgets and as a case study we made a close investigation on budgets of such important regions as Moscow city, St. Petersburg city and Nizhnii Novgorod Oblast.(3) We investigated inter-regional financial flows from the viewpoint of household sector. We analyzed data on living standards and employment in Russian regions and showed the maldistribution of household's financial resources among Russian regions.(4) We analyzed inter-regional financial flows from the viewpoint of foreign economic relations. We thoroughly investigated data on foreign trade, hard currency receipts, foreign investments of a region and the relationship between these data and economic and financial performance of a given region. We made a special research on the distribution of oil and gas export earnings among Russian regions and demonstrated the critical importance of this distribution for the understanding of peculiarities of inter-regional financial flows in Russia.(5) We clarified the characteristics of inter-regional financial flows in Russia. We emphasized the importance of such factors as distribution of mineral resources among Russian regions and activeness of foreign economic relations in a region. We also investigated how these characteristics of inter-regional financial flows influenced the macro economic performance of Russia as whole.