Assessing the Effectiveness of Public Financial Institutions for Spatial Development: The Experience of Russia

Elizabeth Alekseevna Selyavina ()
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Elizabeth Alekseevna Selyavina: Financial University under the Government of the Russian Federation

Spatial Economics=Prostranstvennaya Ekonomika, 2015, issue 1, 91-108

Abstract: The study attempts to evaluate the presence effects of the development bank (Vnesheconombank) which co-finances projects in the Russian regions. The author tests the hypothesis of a statistically significant correlation between the presence of development projects in the regions and regional economic growth. For this purpose the researcher uses the «difference of differences» method (DD-method). Due to the fact that the author applies DD-method at the regional level, the model includes fixed effects of regional scale that can eliminate spatial (first difference) and time (second difference) heterogeneity which doesn’t associate with the presence of the Bank in the region. The model’s sample includes 78 regions of the Russian Federation for the period 2003-2011. On the basis of the performed calculations the author refuted the tested hypothesis.

Keywords: ?; public; financial; institutions; ?; development; bank; ?; projects; ?; spatial; development; ?; economic; growth; ?; effects; ?; the; Russian; Federation; subjects; ?; Russia (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:far:spaeco:y:2015:i:1:p:91-108

DOI: 10.14530/se.2015.1.091-108

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