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People and Money: Incomes, Consumption, and Financial Behavior of the Population of Russian Regions in 2000–2017

Author

Listed:
  • N. V. Zubarevich

    (Moscow State University, Faculty of Geography
    National Research University Higher School of Economics, Institute for Social Policy)

  • S. G. Safronov

    (Moscow State University, Faculty of Geography)

Abstract

— Macroeconomic dynamics affects regional population incomes and the poverty level: positive changes in the regional distribution of these indicators slowed in the 2010s, and during the 2014–2017 crisis, there was a negative trend, which was more appreciable in the poverty level. Income dynamics has a stronger effect on consumption patterns and a weaker effect on the financial behavior of the population. The share of food expenditures declined in all regions until the 2014 crisis; it was minimal in the most developed regions. The structural shift in spending in favor of durable goods, including housing, is far from complete in most regions. The increase in expenditure on services is largely mandatory, due to the increase in utility rates; regional differences are small, with the exception of regions of the Far North. The spendings for reproducing human capital is low and varies slightly by region. The population of “wealthy” regions prefers to spend money on recreation and entertainment, but these expenses contract during income crises. Savings behavior is the most developed in the largest federal cities. Overdue debt on loans is higher in underdeveloped low-income republics and in resource-producing regions, where the population seeks to maintain consumption level by taking out loans. The basic factor of changes in the structure of consumption and in financial behavior are people’s incomes, but they are insufficient to explain regional differences; it is necessary to take into account demographic, settlement pattern, and institutional factors.

Suggested Citation

  • N. V. Zubarevich & S. G. Safronov, 2019. "People and Money: Incomes, Consumption, and Financial Behavior of the Population of Russian Regions in 2000–2017," Regional Research of Russia, Springer, vol. 9(4), pages 359-369, October.
    • Handle: RePEc:spr:rrorus:v:9:y:2019:i:4:d:10.1134_s2079970519040129
    DOI: 10.1134/S2079970519040129
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    References listed on IDEAS

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    1. Maleva, Tatiana (Малева, Татьяна) & Grishina, Elena (Гришина, Елена) & Tsatsura, Elena (Цацура, Елена), 2019. "Long-term social policy: multidimensional poverty and effective targeting [Социальная Политика В Долгосрочной Перспективе: Многомерная Бедность И Эффективная Адресность]," Published Papers 021903, Russian Presidential Academy of National Economy and Public Administration.
    2. Ruslan Yemtsov, 2003. "Quo Vadis? Inequality and Poverty Dynamics across Russian Regions," WIDER Working Paper Series DP2003-67, World Institute for Development Economic Research (UNU-WIDER).
    3. Maleva, Tatyana (Малева, Татьяна) & Polyakova, Aleksandra (Полякова, Александра) & Avraamova, Elena M. (Авраамова, Елена М.) & Burdyak, Alexandra (Бурдяк, Александра) & Grishina, Elena (Гришина, Елена, 2018. "2017: Social Results and Lessons for Economic Policy [2017: Социальные Итоги И Уроки Для Экономической Политики]," Published Papers 011802, Russian Presidential Academy of National Economy and Public Administration.
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    Cited by:

    1. V.V. Gamukin & O.S. Miroshnichenko, 2021. "Impact of the Gross Regional Product and Total Monetary Income of the Population on Savings Behavior in the Regions of Russia," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 20(3), pages 383-405.
    2. Klachkova, O. & Solonina, D., 2022. "The impact of financial development on income inequality in the Russian regions," Journal of the New Economic Association, New Economic Association, vol. 54(2), pages 94-110.
    3. T. G. Nefedova & A. I. Treivish & A. V. Sheludkov, 2022. "Spatially Uneven Development in Russia," Regional Research of Russia, Springer, vol. 12(1), pages 4-19, March.
    4. Venera Maratovna Timiryanova & Kasim Nazifovich Yusupov & Ruzel Faritovich Salimyanov, 2020. "Relationship Between Consumption and Personal Income Within a Hierarchically Structured Spatial System," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 4, pages 91-112.

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