| In the section | Articles |
| Title of the article | Access to Credit and Economic Growth in Russian Regions |
| Pages | 31-46 |
| Author 1 | Olga Gennadyevna Vasilyeva Candidate Economics, Senior Researcher, Assistant Professor Economic Research Institute FEB RAS; Amur State University 153 Tikhookeanskaya Street, Khabarovsk, Russia, 680042; 21 Ignatyevskoe shosse, Blagoveshchensk, 675027 This email address is being protected from spambots. You need JavaScript enabled to view it. |
| Author 2 | Julia Anatolyevna Kovshun Candidate Economics, Assistant Professor Far East State Agricultural University 86 Politekhnicheskaya Street, Blagoveshchensk, Russia, 675005 This email address is being protected from spambots. You need JavaScript enabled to view it. |
| Abstract | Is a well developed financial system a necessary condition for economic growth at the subnational level in terms of reducing technological and institutional barriers to capital movements and growing financial markets integration? Or is it sufficient for economic agents to have access to financial services provided by residents of other regions and countries? The authors attempt to answer these questions, using the approach of R. Rajan and L. Zingales and data on manufacturing industries of the Russian regions in 2004-2012. The results suggest that the development level of local financial intermediaries had no statistically significant impact on growth of manufacturing industries in the regions of Russia. The study can be interesting for a general discussion of the relationship between the degree of financial system development and economic dynamics; the role of financial sector in transition economies and emerging markets, i.e. countries, which are characterized by high information asymmetry, weak institutions of property rights protection and high risks, including political ones. |
| Code | 330.35+336.7 |
| DOI | 10.14530/se.2015.2.031-046 |
| Keywords | financial development ♦ regional financial system ♦ external funding ♦ regions of Russia |
| Download | SE.2015.2.031-046.Vasilyeva.pdf |
| For citation | Vasilyeva O.G., Kovshun J.A. Access to Credit and Economic Growth in Russian Regions. Prostranstvennaya Ekonomika = Spatial Economics, 2015, no. 2, pp. 31-46. DOI: 10.14530/se.2015.2.031-046. (In Russian). |
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