Regional Economics: Theory and Practice
 

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The impact of fiscal policy on the socio-economic situation in southern regions of Russia

Vol. 17, Iss. 10, OCTOBER 2019

Received: 29 August 2016

Received in revised form: 12 September 2016

Accepted: 26 September 2016

Available online: 15 October 2019

Subject Heading: SOCIOECONOMIC POLICY

JEL Classification: H30, H71

Pages: 1862–1879

https://doi.org/10.24891/re.17.10.1862

Maslova D.V. Pyatigorsk State University (PSU), Pyatigorsk, Stavropol Krai, Russian Federation
dmaslowa@mail.ru

ORCID id: not available

Subject The economic situation and human well-being in southern regions of Russia over many years have been significantly worse than the national average. The article assesses the results of applying the fiscal tools from the perspective of boosting the social and economic development, increasing the per capita income and tax revenues in southern regions of Russia.
Objectives The aim is to identify interrelations of the structure of household incomes in regions with fiscal policy instruments, like tax pressure, grant assistance from the Federal budget and budget investments.
Methods The research draws on statistical and logic analysis of interrelations of the studied phenomena based on information database of tax and economic statistics for 2006–2014.
Results I reveal a direct correlation between tax pressure and taxable income. In some cases, a correlation between per capita income and transfers from the Federal budget is observed. Budget investments have little effect on the welfare and efficiency of the region's economy.
Conclusions In the past decade, the fiscal policy was focused on maintaining the level of consumption rather that stimulating the economic development. Broadening the tax competence of regional authorities may strengthen the fiscal tools as applied to regional specifics and overcome the socio-economic lag of the region.

Keywords: tax pressure, transfers, income, GRP, investment

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