In the section Articles
Title of the article Assessing the Effectiveness of Public Financial Institutions for Spatial Development: The Experience of Russia
Pages 91-108
Author 1 Elizabeth Alekseevna Selyavina
Master of Science «Local Economic Development» Program. London School of Economics and Political Science, Graduate Student.
Financial University under the Government of the Russian Federation
49 Leningradskiy prospect, Moscow GSP-3, 125993, Russia
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Abstract The study attempts to evaluate the presence effects of the development bank (Vnesheconombank) which co-finances projects in the Russian regions. The author tests the hypothesis of a statistically significant correlation between the presence of development projects in the regions and regional economic growth. For this purpose the researcher uses the «difference of differences» method (DD-method). Due to the fact that the author applies DD-method at the regional level, the model includes fixed effects of regional scale that can eliminate spatial (first difference) and time (second difference) heterogeneity which doesn’t associate with the presence of the Bank in the region. The model’s sample includes 78 regions of the Russian Federation for the period 2003-2011. On the basis of the performed calculations the author refuted the tested hypothesis.
Code 332.1
DOI 10.14530/se.2015.1.091-108
Keywords ♦ public financial institutions ♦ development bank ♦ projects ♦ spatial development ♦ economic growth ♦ effects ♦ the Russian Federation subjects ♦ Russia
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For citation Selyavina E.A. Assessing the Effectiveness of Public Financial Institutions for Spatial Development: The Experience of Russia. Prostranstvennaya Ekonomika = Spatial Economics, 2015, no. 1, pp. 91-108. DOI: 10.14530/se.2015.1.091-108. (In Russian).
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