Financial Solvency of Russian Regions in 2005-2011: Experience of Classification Analysis

Yu. Blagoveschensky and I. Vinukov
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Yu. Blagoveschensky: INDEM Foundation, Moscow, Russia
I. Vinukov: Financial University under the Government of the Russian Federation, Moscow, Russia

Journal of the New Economic Association, 2014, vol. 23, issue 3, 61-88

Abstract: The article is devoted to the development of classification of the territorial entities of the Russian Federation based on the data of the State statistical reporting for 2005-2011 and aimed at assessment of financial solvency of regions concerning budget support, attracting of investments, promoting export-import relationships with foreign countries and inter-government relations with the Federal center. The main achievement is a new approach to formation of integrated characteristics (indexes) which work equally well in different periods of economic development (in the period 2005-2011 we could observe uprising, crisis and an initial stage of the recovery). As a result 4 indexes reflecting different aspects of affluence on the regions' were designed, and common criteria of classification created, all the regions were divided into 6 well interpreted classes.

Keywords: classification of territorial entities of the Russia; financial indicators number; principal component; robust normalizing; abutment regions; rating (search for similar items in EconPapers)
JEL-codes: C02 C18 G39 R58 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2014:i:23:p:61-88

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