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The Effect of Oil on Regional Growth in Russia and the United States: A Comparative Analysis

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  • Michael Alexeev

    (Department of Economics, Indiana University, Bloomington, IN 47405, USA)

  • Andrey Chernyavskiy

    (Research University-Higher School of Economics, Institute Development Center, 109074, Moscow, Russia)

Abstract

Using comparable 2002–2011 data, we examine the effect of oil on growth of Russia’s regions and American states. Although Russia’s oil regions are richer than other regions, they did not grow faster, while US oil producers grew faster than other states. We attribute these differences to different taxation systems in Russia and the United States, with the Russian central government taxing away a larger share of incremental oil rents in the 2000s than did its US counterpart. Moreover, although oil rents attracted labor to oil-producing regions both in Russia and the United States, only in the US oil rents led to higher investment growth.

Suggested Citation

  • Michael Alexeev & Andrey Chernyavskiy, 2014. "The Effect of Oil on Regional Growth in Russia and the United States: A Comparative Analysis," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 56(4), pages 517-535, December.
    • Handle: RePEc:pal:compes:v:56:y:2014:i:4:p:517-535
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    Cited by:

    1. Fleming, David A. & Measham, Thomas G. & Paredes, Dusan, 2015. "Understanding the resource curse (or blessing) across national and regional scales: Theory, empirical challenges and an application," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 59(4), October.
    2. Alexeev, Michael & Chih, Yao-Yu, 2021. "Energy price shocks and economic growth in the US: A state-level analysis," Energy Economics, Elsevier, vol. 98(C).
    3. Michael Alexeev & Yao-Yu Chih, 2017. "Oil Price Shocks and Economic Growth in the Us," CAEPR Working Papers 2017-011, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    4. Judith Thornton & Krisztina Nagy & Pasita Chaijaroen, 2019. "Changing Tax Effort in Russia’s Regions; the Impact of Re-Centralization," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 7(1), pages 62-79.
    5. Zakharov, Nikita, 2020. "Asymmetric oil price shocks, tax revenues, and the resource curse," Economics Letters, Elsevier, vol. 186(C).

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