Indices of Regional Economic Activity for Russia
Sergey Smirnov and
Nikolay V. Kondrashov
Additional contact information
Nikolay V. Kondrashov: National Research University Higher School of Economics
A chapter in Business Cycles in BRICS, 2019, pp 363-375 from Springer
Abstract:
Abstract In large countries, the development of national macroeconomic business cycles clearly involves regional nuances that, as a rule, fall outside scholars’ fields of vision, especially when monitoring the current economic situation. Regional statistics published by the Russian Federal State Statistics Service (Rosstat) are reviewed in terms of quality, and radical disagreement between “month-on-month” and “year-on-year” monthly statistics is identified. In view of this, an original method is proposed for estimating the level of regional economic activity (REA), based on monthly official regional statistics in five key sectors of the Russian economy: industry, construction, retail trade, wholesale trade, and paid services for the population. This method transforms current “year-on-year” growth rates into specially constructed dichotomous variables, which eliminate the excessive volatility and inaccuracy of the initial time series. On these grounds, REA indices are estimated for all Russian constituent entities for the period from January 2005 to November 2017. Composite REA indices for all five economic sectors, eight federal districts, and Russia as a whole are then calculated. Methods for visualising multidimensional regional data are also proposed. They allow us to track the regional peculiarities of the Russian economy and to discern the current phase of the business cycle more accurately and without any additional lag. Several illustrative examples for the possible application of these indices in real-time monitoring and analyses are provided.
Keywords: E32; R11; Business cycles; Economic activity; Regions; Federal districts of Russia (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Related works:
Working Paper: Indices of Regional Economic Activity for Russia (2017) 
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:spr:socchp:978-3-319-90017-9_22
Ordering information: This item can be ordered from
http://www.springer.com/9783319900179
DOI: 10.1007/978-3-319-90017-9_22
Access Statistics for this chapter
More chapters in Societies and Political Orders in Transition from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().