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Influence of the Industrial Structure of Economy on the Risk Level of Russian Regions' Tax Systems

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  • Marina Malkina

    (Center of Macro and Microeconomics, Institute of Economics and Entrepreneurship, Lobachevsky State University of Nizhni Novgorod, 23 Prospekt Gagarina, 603950 Nizhni Novgorod, Russia)

Abstract

The paper is aimed at study of the influence of industrial structure of regional economy on its tax system risk level. The tax systems risk level of Russian regions in 2006-2014 was assessed applying the H. Markowitz portfolio approach under the assumption that regional "portfolio" consists of main economic activities. It allowed us to evaluate contribution of various economic activities to total tax system risk, to decompose it into internal and external by origin and to identify the critical zones of instability in Russian regions. The coefficients of variation of tax yield rate revealed different relative impact of the economic activities on instability of regional tax systems. Besides, we found mainly positive albeit changing in strength correlation between internal and total tax system risk level and tax yield rate in economic activities. The diversification level of regional economies was evaluated by means of standard deviation of regional industrial structure from country structure considered as a benchmark. Inclusion of this level along with the tax yield rate and a set of control variables into two developed regressions estimated with GRP-weighted least-square method allowed us to confirm positive influence of diversification on the tax systems stability. Our results may be applicable to management of tax system risks at the regional level.

Suggested Citation

  • Marina Malkina, 2017. "Influence of the Industrial Structure of Economy on the Risk Level of Russian Regions' Tax Systems," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 65(6), pages 2025-2035.
    • Handle: RePEc:mup:actaun:actaun_2017065062025
    DOI: 10.11118/actaun201765062025
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    References listed on IDEAS

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    Cited by:

    1. Marina Malkina, 2019. "How Change in Industry Mix Can Improve the Financial Performance of Regional Economies: Evidence from the Portfolio Approach," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 67(6), pages 1561-1575.
    2. Marina Yurievna Malkina, 2018. "Instability of Financial Return of Regional Economies and Its Determinants," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 3, pages 88-114.
    3. Aleksandra L. Osmolovskaya-Suslina & Sofiia R. Borisova, 2023. "Non-resource Revenues to the Consolidated Budget: Analysis by Types of Economic Activity," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 8-26, December.
    4. Malkina, M. Yu., 2018. "The determinants of budget revenues of Russian regions," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 4(3), pages 95-104.
    5. Marina Yu. Malkina, 2021. "How the 2020 pandemic affected tax revenues in Russian regions?," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 16(2), pages 239-260, June.
    6. Marina Malkina & Rodion Balakin, 2020. "Risks of Regional Tax Systems and Their Portfolio Decomposition: The Case of Modern Russia," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 68(6), pages 995-1009.

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