EconPapers    
Economics at your fingertips  
 

Risks of Regional Tax Systems and Their Portfolio Decomposition: The Case of Modern Russia

Marina Malkina and Rodion Balakin
Additional contact information
Marina Malkina: Center of Macro and Microeconomics, Institute of Economics and Entrepreneurship, Lobachevsky State University of Nizhni Novgorod, 23 Prospekt Gagarina, 603950 Nizhni Novgorod, Russia
Rodion Balakin: Center of Macro and Microeconomics, Institute of Economics and Entrepreneurship, Lobachevsky State University of Nizhni Novgorod, 23 Prospekt Gagarina, 603950 Nizhni Novgorod, Russia

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2020, vol. 68, issue 6, 995-1009

Abstract: The purpose of this paper is an assessment of the risk of regional tax systems at different levels of the budget system (consolidated, federal, regional and local), decomposition of this risk by sources (various taxes and tax groups) and the isolation of internal (related to own tax return volatility) and external (related to the correlation of tax returns volatility) risk components. Using the portfolio approach, we measured and decomposed the risk of tax systems of 80 constituent entities of the Russian Federation in 2006-2017. As a result, we found a weak positive relationship between the risk and return of the regional tax systems at all budget levels. By comparing the structure of return and risk of regional tax systems, we identified taxes - risk dampers and taxes - risk enhancers, and estimated the overall level of imbalance in regional tax systems at the studied budget levels. It allowed us to conclude about the effectiveness of diversification of regional tax systems, the advisability of combining different taxes in a single portfolio, or transferring them to another level of the budget system.

Keywords: Russian tax system; tax return; tax risk; portfolio approach; decomposition; levels of budget system; diversification; imbalance (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://acta.mendelu.cz/doi/10.11118/actaun202068060995.html (text/html)
http://acta.mendelu.cz/doi/10.11118/actaun202068060995.pdf (application/pdf)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mup:actaun:actaun_2020068060995

DOI: 10.11118/actaun202068060995

Access Statistics for this article

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis is currently edited by Markéta Havlásková

More articles in Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis from Mendel University Press
Bibliographic data for series maintained by Ivo Andrle ().

 
Page updated 2025-05-07
Handle: RePEc:mup:actaun:actaun_2020068060995