This paper deals with Russia’s market for municipal and sub-federal borrowings.

The article deals with the evolution of approaches in modern economic theory to the problem of “failures of the state”. This approach, which has developed in opposition to concepts of “market failure”, can be seen as a search for a new strategy of political and economic analysis of...

Present work contains municipal reform implmentation results for 2007. The authors analyzed modifications in the federal legislation regarding local selfgovernance, regional legislation which regulates issues relatyed to newly created settlements in transition period. The authors analyzed...

The objective of the work is the analysis of the impact of grants, allocated from the central government budget for the expenditures of regional budgets, and the “sticker” effect, which means a traditional disproportion between the federal transfers and the amount of regional expenditure. In...

The paper considers territorial models of local selfgovernance that had emerged in Russian regions prior to the reform and their impact on various aspects of municipal establishments' activities. The authors evaluate the regional law in the area of local selfgovernance and interbudgetary...

It is for nearly half a century that the problem of measuring efficiency of provision of assistance by more developed countries to less developed ones has been in the center of attention of economists. Notably, in the period after World War II the world has witnessed several stages (models) of...

Within the framework of this study, we have been monitoring the development of municipal reform from the moment of the enactment of Federal Law No. 131-FZ, “On general principles of the organization of local selfgovernment in the Russian Federation”, until mid-year 2006. This paper describes...

This article deals with the problems on the North Caucasus Federal districtþ

The study has reviewed the experience of foreign countries in the sphere of implementation of respective measures designed to prevent the emergence of soft budget constraints imposed on subnational authorities in a situation of fiscal decentralization. Also, a number of theoretic simulation...

This paper deals with interbudgetary relations and subnational finances in the Russian Federation. The authors focus on the issue of subnational budgets during the financial crisis of 2008. They analyze financial aid from the federal budget to regional authorities.