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Assessing the Effectiveness of Public Financial Institutions for Spatial Development: The Experience of Russia

Author

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  • Elizabeth Alekseevna Selyavina

    (Financial University under the Government of the Russian Federation)

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.

Suggested Citation

  • Elizabeth Alekseevna Selyavina, 2015. "Assessing the Effectiveness of Public Financial Institutions for Spatial Development: The Experience of Russia," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 1, pages 91-108.
    • Handle: RePEc:far:spaeco:y:2015:i:1:p:91-108
    DOI: 10.14530/se.2015.1.091-108
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