By Alexei G. Makushkin, N. Y.) Eastwest Institute (New York, Jim Walker, Alexei G. Makushkin, Alexei M. Lavrov
A examine of the allocation of kingdom and public monetary assets within the Russian Federation. one of the difficulties documented are the very excessive differentiation of the areas when it comes to point of improvement, public welfare and self-sufficiency; and inefficiencies within the taxation approach.
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Extra resources for The Fiscal Structure of the Russian Federation: Financial Flows Between the Center and the Regions
In Russia, the criteria, mechanisms, and results of redistributing budgetary resources among the regions have not yet been made sufficiently clear. This destabilizes political and fiscal relations between the Center and the subjects of the Federation, leading to such extreme negative manifestations as tax separatism. The need to develop and analyze a territorial profile of the federal budget has been repeatedly emphasized by various researchers and in official documents (such as the Concept for Reforming Interbudgetary Relations in the Russian Federation in 1999–2001, and the medium-range Program of Economic Reforms).
Martinez and J. Boex, “Fiscal Decentralization in Russia: Trends, Problems, Recommendations” (Georgia State University, 1998); “Subnational Budgeting in Russia: Preempting a Potential Crisis” (World Bank Technical Paper, 1998); and O. Betin, “Budget Federalism in Russia: Issues and Perspectives” (Moscow, 1999). However, financial relations between the Center and the regions can be interpreted more broadly to include questions of the territorial distribution of revenues and, especially, expenditures from federal extrabudgetary funds, as well as the federal budget.
So the balance of financial flows reflected only the taxes that were collected (rather than accrued) and the federal budget’s expenditures that were actually funded. In the statistics on execution of the budgets of subjects of the Federation, budget loans from the federal budget to regional budgets are considered as one of the sources for covering the deficit. , it was included in the amount of funds transferred to regional budgets). The balance of financial flows for individual regions can be characterized by two indices: • the percent ratio of revenues collected in the region and credited to the federal budget and federal budgetary expenditures in the region (hereinafter, the percentage of funds returned to the region) • the difference between the revenues collected in the region and credited to the federal budget and federal budgetary expenditures in the region figured per capita (hereinafter, the balance per capita).