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Regions of Russia during a pandemic: Socio-economic dynamics and budget revenues

Author

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  • Zubarevich, N.

    (Lomonosov Moscow State University, Moscow, Russia
    Institute for Social Analysis and Forecasting (INSAP), Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow, Russia)

Abstract

It is difficult to identify the most and the least affected regions in the pandemic crisis, since the dynamics of different indicators did not coincide. Industrial output decline was deeper in oil-extracting regions. Agglomerations of federal cities, recreation regions of the South and the republics of the North Caucasus had the strongest decline in the service sector. The dynamics of labor markets in the regions during the pandemic strongly depended on institutional factors - state support for employed in small businesses and assistance to the unemployed. Small business employment in most regions did not decline. The level of registered unemployment grew faster in the largest agglomerations, and the slowest emerging from the crisis were the underdeveloped republics. After a strong decline in the population incomes in the 2nd quarter of 2020 due to lockdowns, a gradual convergence of regional dynamics began, but without a noticeable improvement. In terms of population income and employment, Moscow is recovering from the crisis much faster thanks to its huge competitive advantages. The dynamics of own revenues of regional budgets during pandemic is associated with the structure of the economy and the importance of profit tax in the budget revenues. The largest losses in 2020 were experienced by the oil-extracting regions due to a sharp reduction in profit tax. Since 2021, the own revenues of the budgets of metallurgical regions grew the fastest due to a threefold increase in this tax. Lockdowns in the first wave of the pandemic turned out to be less significant because the number of regions with a decline in their own revenues in the 2nd quarter of 2020 was 1,5 times less than in 2020.

Suggested Citation

  • Zubarevich, N., 2021. "Regions of Russia during a pandemic: Socio-economic dynamics and budget revenues," Journal of the New Economic Association, New Economic Association, vol. 51(3), pages 208-218.
  • Handle: RePEc:nea:journl:y:2021:i:51:p:208-218
    DOI: 10.31737/2221-2264-2021-51-3-10
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    References listed on IDEAS

    as
    1. N. V. Zubarevich & S. G. Safronov, 2020. "Russian Regions in the Acute Phase of the Coronavirus Crisis: Differences from Previous Economic Crises of the 2000s," Regional Research of Russia, Springer, vol. 10(4), pages 443-453, October.
    2. Irina Vladimirovna Grishina & Andrey Olegovich Polynev, 2020. "Regional Features of the Response to the Global Crisis," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 10, pages 62-76, October.
    3. Pavel Aleksandrovich Minakir, 2020. "The Economy of the Pandemic: A Far Eastern Russian Aspect," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 4, pages 7-22.
    4. Mikhail V. Milchakov, 2021. "Implementation of Regional Development Priorities Under the Conditions of the COVID-19 Pandemic," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 93-113, April.
    5. Roberta Capello & Andrea Caragliu, 2021. "Regional growth and disparities in a post‐COVID Europe: A new normality scenario," Journal of Regional Science, Wiley Blackwell, vol. 61(4), pages 710-727, September.
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    Cited by:

    1. M. Yu. Malkina, 2024. "Real Income Stress in Russian Regions Amid the Pandemic and Sanctions," Regional Research of Russia, Springer, vol. 14(2), pages 109-125, June.
    2. Zubarevich, N., 2022. "Regions of Russia in the new economic realities," Journal of the New Economic Association, New Economic Association, vol. 55(3), pages 226-234.
    3. Mikhail V. Milchakov, 2024. "Fiscal and Financial Situation of the Constituent Entities of the Russian Federation: Medium-term Trends in the Regional Context," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 104-125, April.
    4. N. N. Mikheeva, 2023. "Household Income and Consumption in Regions during the Pandemic," Regional Research of Russia, Springer, vol. 13(2), pages 287-295, June.

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    More about this item

    Keywords

    pandemic crisis; regions of Russia; dynamics of industrial output and services; unemployment rate; money incomes; regional budgets;
    All these keywords.

    JEL classification:

    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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