Role of financial resources of the economy's banking sector in Russian regions' socio-economic development

Автор: Naumov Ilya V.

Журнал: Economic and Social Changes: Facts, Trends, Forecast @volnc-esc-en

Рубрика: Regional economy

Статья в выпуске: 6 т.13, 2020 года.

Бесплатный доступ

Financial capacities of the banking sector become an important strategic resource during the deficit of financial resources for the implementation of administrative multi-level spatial strategies and solution of important issues related to the territorial systems' socio-economic development. The purpose ofthestudyistojustifythekeyroleoftheeconomy'sbankingsectorinthesolutionoftheissueconcerningthe increase of the RF entities' fiscal capacity and to assess a volume of credit institutions' necessary financial resources. To achieve this goal, the following objectives were set: to study fiscal capacity and structure of the regional systems' government debt and the banking sector's contribution to its formation, to construct spatial regression models showing the dependence of the regions' socio-economic development level and their fiscal capacity on financial resources attracted by the banking sector, to define the volume of credit institutions' financial resources, attraction of which will solve the problem of the RF entities' budget deficit. We use the methods of statistical and regression analysis in this work. As a result, it was revealed that the banking sector's investments in government and municipal debt securities and lending of the RF entities contribute to the increase of fiscal capacity, form financial foundation for the implementation of socio-economic development strategies. Attraction of investments in enterprises' shares and securities, loans to financial and non-financial business and households lead to an increase of the territories' gross regional product. The results of this study may be useful for the government authorities of the RF entities while implementing the developed spatial socio-economic development strategies.


Financial resources, banking sector, fiscal capacity, strategic planning, regression modelling

Короткий адрес:

IDR: 147225501   |   DOI: 10.15838/esc.2020.6.72.9

Список литературы Role of financial resources of the economy's banking sector in Russian regions' socio-economic development

  • Glazev S.Yu. Priorities of the Russian economy’s accelerated development during the transition to a new technological mode. Ekonomicheskoe vozrozhdenie Rossii=Economic Revival of Russia, 2019, no. 2 (Т. 60), pp. 12–16 (in Russian).
  • Aganbegyan A.G. How can we restore socioeconomic growth in Russia? Ekonomicheskoe vozrozhdenie Rossii=Economic Revival of Russia, 2017, vol. 53, no. 3, pp. 11–20 (in Russian).
  • Sukharev O.S. Changing the doctrine of monetary and fiscal policy under recession. Federalizm=Federalism, 2015, no. 1, pp. 93–110 (in Russian).
  • Igonina L.L. The role of banks in the financial support for investment in fixed capital. Finansy i kredit=Finance and Credit, 2015, vol. 21, no. 2, pp. 2–13 (in Russian).
  • Chung S., Singh H., Lee K. Complementarity, status similarity and social capital as drivers of alliance formation. Strategic management journal, 2000, vol. 1 (21), pp. 1–22.
  • Bushee B. J. Do institutional investors prefer near-term earnings over long-run value? Contemporary accounting research, 2001, vol. 2 (18), pp. 207–246.
  • Yafeh Yishay, Yosha Oved. Industrial organization of financial systems and strategic use of relationship banking. European finance review, 2001, vol. 1-2 (5), pp. 63–78.
  • Zubarevich N.V. Development of the Russian space: Barriers and opportunities for regional policy. Mir novoi ekonomiki=The World of New Economy, 2017, no. 2, pp. 46–57 (in Russian).
  • Cherniavsky A.V. Problems of regional budgets balance and ways of solution. Finansy=Finance, 2014, no. 8, pp. 21–26 (in Russian).
  • Zharii Ya.V., Krasnyanskaya Yu.V. Transformation investment banking system of Ukraine for realization of strategic projects. Problemy i perspektivy ekonomiki i upravleniya= Problems and Prospects of Economics and Management, 2017, no. 3, pp. 125–134 (in Russian).
  • Ryabinina E.N., Savderova A.F. The banking sector in development of economy of the region. Оeconomia et Jus, 2015, no. 3, pp. 24–33 (in Russian).
  • Glazev S.Yu., Ivanter V.V., Makarov V.L., Nekipelov A.D., Tatarkin A.I., Grinberg R.S., Fetisov G.G., Tsvetkov V.A., Batchikov S.A., Ershov M.V., Mityaev D.A., Petrov Yu.A. On the development strategy of the Russian economy. Ekonomicheskaya nauka sovremennoi Rossii= Economics of Contemporary Russia, 2011, no. 3 (54), pp. 7–31 (in Russian).
  • Arslanov Sh.D. Questions about development of regional system of rendering banking and financial services. Nauchnoe obozrenie. Ekonomicheskie nauki=Science Review. Economic Sciences, 2018, no. 3, pp. 5–9 (in Russian).
  • Stolyarov A.I. Trends in the development of public debt of the RF subjects and municipalities. Upravlenie korporativnymi finansami=Corporate Finance Management, 2015, no. 5-6, pp. 308–327 (in Russian).
  • Popova E.V. The current state of bank lending to the budgets of the RF subjects. Ekonomika i predprinimatel’stvo=Journal of Economy and Entrepreneurship, 2019, vol. 112, no. 11, pp. 390–393 (in Russian).
  • Belke A., Haskamp U., Setzer R. Regional bank efficiency and its effect on regional growth in ‘normal’ and ‘bad’ times. ROME Discussion Paper Series, 2015, vol.15-07, pp. 1–39.
  • Bernini C., Brighi P. Bank branches expansion, efficiency and local economic growth. Regional Studies, 2018, vol. 52, рр. 1332–1345.
  • Gjelsvik M. Economic transformations of regions: The role of banks. Managing the Banking System, 2017, vol. 26, рр. 35–51.
  • Jha S.S. Regional rural bank: An important mechanism for the financial inclusion. International Journal of Advance and Innovative Research, 2018, vol. 5, рр. 159–165.
  • Sukharev O.S. Russian development strategy issues. Federalizm=Federalism, 2016, vol. 81, no. 1, pp. 133–154 (in Russian).
  • Fedoseyeva V.A. On the question of influence of the regional banking sector on the level of economic security of Russia’s regions. Vestnik Permskogo universiteta=Perm University Herald, 2016, no. 1 (28), pp. 54–64 (in Russian).
  • Aganbegyan A.G. Reflections on financial boost. Den’gi i kredit=Russian Journal of Money and Finance, 2015, no. 8, pp. 5–10 (in Russian).
  • Tatarkin A.I. Regional targeting of the economic policy of the Russian Federation as an institution of regional spatial development. Ekonomika regiona=Economy of Region, 2016, vol. 12, no. 1, pp. 9–27 (in Russian).
  • Naumov I.V. Scenario modeling of process of movement of financial flows between institutional sectors in the regional territorial system. Finansy: teoriya i praktika=Finance: Theory and Practice, 2018, vol. 22, no. 1, pp. 32–49. DOI: 10.26794/2587-5671-2018-22-1-32-49 (in Russian).
  • Naumov I.V. Dynamic balance model of financial flows between the institutional sectors in the regional system. Izvestiya UGGU=News of the Ural State Mining University, 2018, vol. 51, no. 3, pp. 155–164. DOI: 10.21440/2307-2091-2018-3-155-164 (in Russian).
  • Zakharchuk E.A., Pasynkov A.F. Regional balance model of financial flows through sectoral approaches system of national accounts. Ekonomika regiona=Economy of Region, 2017, vol. 13, no. 1, pp. 318–330 (in Russian).
  • Tatarkin D.A., Sidorova E.N., Trynov A.V. Methodical bases of estimation multiplicative effect of the realization of socially significant investment projects. Vestnik UrFU. Seriya: Ekonomika i upravlenie=Journal of Applied Economic Research, 2015, vol. 14, no. 4, pp. 574–587 (in Russian).
  • Stone R. Functions and criteria of a system of social accounting. Review of Income and Wealth, 1951, vol. 1, рр. 1–74. DOI: 10.1111/j.1475-4991.1951.tb01036.x
  • Pyatt G., Round J.I. Accounting and fixed price multipliers in a social accounting matrix framework. The Economic Journal, 1979, vol. 89, рр. 850–873. DOI: 10.1007/BF00395871
  • Khan H., Thorbecke E. Macroeconomic effects of technology choice. Multiplier and structural path analysis within a SAM framework. Journal of Policy Modeling, 1989, vol. 11, рр. 131–156.
Статья научная